My prediction for silver is a rally which will last until Spring 2020 where it will hit the early $20's/oz. This is based on the pretty perfect technical breakout we saw a month back, which has now back tested and is preparing for the next leg higher. This is all happened while the gold/silver ratio is weakening quite dramatically relative to gold.
It appears that we are still in a massive bear channel and this was a bear market rally. Both TVC:GOLD and TVC:SILVER appear to be overbought. Silver is showing a massive weekly shooting star. Might see another leg up (within the channel)but then a decline to find another bottom. Looks like it got all the FOMOs out there. Unless we break out of this bear channel...
I'm playing silver in a bullish macro trend, so I'm still long. However we could see a significant pullback, shaking out weak hands and traders before a higher high. Short traders could be right depending on the degree of retracement.
However I'm not looking to short. I'm looking to long the pullback.
As shown in the chart, i believe silver is on its C leg, could extend further into the blue area or just go up from here. My TP & Sell zones are only a rough idea of where i think market will touch before it goes back down again.
Please note that this chart is an opinion based chart only. Please trade at your own risk
While gold has been rallying, silver has been silently consolidating getting ready for lift off....
Last daily candle close was a bullish engulfing, which makes me confident to long any retrace down to 14.650 region, stop loss below bullish engulfing candles low....
Having a good idea, beforehand, where the buy and sell stops are located can give an active trader a better idea regarding at what price level buying or selling pressure will become intensified in that market.
Buy Stops -15.050(buying pressure)
Sell Stops- 14.450(selling pressure)
Our Active position
Sell Limit Price: 14.700
This month's observations and discussion points are as follows:
+ Looking at the RSI, 200 MA and candles, it would not be unreasonable to believe there is more down time ahead.
+ Buying when the RSI is oversold on the monthly chart is not a bad good idea (not financial advice) as after the ONLY two previous times, bull runs have followed.
No long explanation here, just thought i'd do a quick share on markets I am watching to get in on for the long haul. If you read most of my charts in the past 3 weeks, you should know how I trade. Feel free to use this as your guideline.
This is long-term trade so atleast a year upwards before you look into collecting your winnings. I don't really suggest where...
While the gold miners are looking to finish the ABCDE triangle consolidation shortly, they still have not decided whether they will go lower to touch the E at the bottom of the triangle or break out early and leave E behind. Hi Ho Silver however, already gave us a fake breakout first, and has now
gone down and touched the lower triangle point E. This is a buy...
Freshly trading its prices right in-between the 8, 21 EMA and 200 SMA, the XAGUSD (Silver) decidedly formed a bullish fakey pin bar suggesting for the continuation of prices higher. This is a strong signal I'm willing to enter on. despite my ongoing trade.
We are currently in a strong bull channel for silver, leading towards $20.
I still believe silver will be the stronger performing PM by % over the next few months.
Although we ended in the red today, the fact that there was such strong support at the $18 level is a very good sign for bulls. MACD is looking to cross here on the 1D.
I made the poor choice (captain hindsight), to long silver miners (point A) instead adding to some of my fav gold miners (AEM/BTO).
My rational behind this was I truly believed that silver had bottomed at the $17 level (which has proved to have been correct so far), and that it would bounce back over $18 in the next few months (which it is still on track for). I...
Aurcana Corporation is a Vancouver-based company whose shares are listed for trading on the TSX Venture Exchange (AUN.V). Aurcana owns the Shafter Project, a silver deposit located in Presidio County, southwest Texas. The Shafter Project was advanced and substantially built prior to being placed on care and maintenance in December,...
I am expecting a Drop on H4 Due to Following Reasons
Symetrical Triangle Breakout
H4 Short Does not Gonna Affect Monthly Silver Gains
Consolidating at this area for a long time
Let us see how this trade goes