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Hi guys. This idea is a long term analysis of the Silver bullish trend (probably bullish).
My tactic for silver is to wait until the point (C) is reached and to expect for candle confirmation of bullish trend continuation.
If you are looking for a short-term trade on Elliott corrective...
Price could hold support off the 55 MA
if it does I would expect it to come up
to complete a H&S Pattern this comes
in line with the 50% - 61.8% fib Level
form a rejection candle and drop
Price could turn around
at the trend line if the buyer
fades here and gives up
look for a rejection candle
and for price to fail the
If I am staying bullish on Silver in the medium to long-term, price consolidation continues in the short-term. Hence, a return of the price to the support area at $ 16,650/17,100 is likely in the coming days.
XAGUSD has been in an uptrend as we said before and this uptrend is in a bit of pause. So we spot a short possibility and we get in. Risk/Reward isn't as good as before but the possibility is high.
Have a nice day!
Silver is a strange one, the chart looks like a volatility chart, ie sudden spikes up, which then slowly fade (unlike stocks which do the reverse).
The last cycle from Jun 16 to Jun 18 was a classic bearish descending triangle. Price action from summer 2019 looks remarkably similar to May 2016 onwards, we are now at Nov 2016, which means this is just the place to...
In this long term chart of silver, a ascending broadening wedge is present, which led to a bearish breakdown. A falling wedge which led to a bullish breakout. A bearish descending triangle, and a recently formed bull flag that may lead to further upsides. Rising MACD supports this idea.
The Silver price is currently trading below the 21-day and 50-day SMAs. The Stochastic Oscillator period 14 is bellow 20 levels on the daily chart with the signal lines pointing down to indicate a sell signal. Also the bullish trend line has been broken and that in and of itself is not a good sign for the bulls.
The next week or two should be crucial and tell us...
Ladies and gentlemen,
Today my bear-radar is on FOREX.
Supply estimation :
About 1.5 million tons of silver have been mined from the earth over the course of human history.
Is Silver a store value in case of economic crash ?
During 10 years, Silver was in a massive bullrun. The 5th wave, in EW theory, shows an over-extension of the 3rd. The over-extension...
Price has just confirmed completion of the WXY zigazag with a bear impulsive move. This is just confirmation that we'll push towards $15.00, we don't yet have an entry to go short. A safe way to take short entries is to allow price to correct below the structure. Trade well and always apply risk management to protect you capital.
Gold and silver prices are modestly lower in midday U.S. trading Wednesday. The global trader and investor environment at present are one of the scant geopolitical concerns amid a booming U.S. stock market. That’s a bearish scenario for the safe-haven metals. However, such cannot continue indefinitely and veteran metals market bulls are biding their time. December...
Commodities are feeling the downside pressure due to the strong US dollar, there is money flowing out safe-haven assets into the equity market since it's been climbing to all-time highs.
Silver forms a very interesting pattern and has been doing so since the start of September when it fell drastically from the strong rally. The pattern involves a strong 1-2-day...
Like Gold, Silver is still in the midst of a down trend. We've had a 3 wave pullback in the past couple of sessions and price seems to have setup for a short trade. There's always the possibility that this corrective structure may form into a double correction. Wait for clear confirmation before looking for any sell opportunities.