Dates in the future with the highest probability for price direction reversals
A bit concerned. I dismissed claims that silver would not be available when the time came but tonight, I've just noticed apmex.com (a top online retailer for precious metals) has now listed many of the top selling 1 OZ SILVER BARS as PRE-SALE ONLY. AKA SOLD-OUT. Then I checked the smaller sub ounce gold coins. Same story. Wonder what happens...
After analyzing the price action on the short term , I want to bring to your attention an interesting analogy: Bitcoin's Cycle on the 1W chart since the December 2017 top versus Silver's Cycle on the 1D chart since the September 2019 top. As you see the similarities between the two fractals are striking. I know the time frames are different but serve well enough...
Hi traders, Keep your eyes on lower time frame for buy setups. Do not sell without having a correction.
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.
Pattern: 1D Bullish Channel supported on Higher Lows. Signal: Bullish once the price breaks the 1D MA50 and reverses. This is a standard sequence on every Silver uptrend (see the chart below). The ideal long term Buy Zone is within 16.625 - 17.365. Target: Initial target 19.500. Extension much higher, updates will follow.
Pattern: 1D Channel Up. Signal: Bullish as the price is on the way to the next Higher High on the 1W Resistance. Target: 18.200 and 18.800 in extension for the next Higher High if the pattern (-2.50% Support) holds.
Pattern: Channel Up on 1D. Signal: Bullish as the price broke the 1D Resistance. Target: 17.250 (just below the 1W Resistance).
Pattern: Ascending Triangle on 4H. Signal: Bearish after the 1D Resistance is being tested for the 3rd time (possibility for a Triple Top). Target: The 4H Support levels (14.900, 14.760, 14.630).
Pattern: Channel Down on 1D. Signal: Bearish as long as the Lower High sequence holds. Target: 14.400 and if the price bounces back to the resistance then aim at 14.250.
Since it's Crypto/ Commodity comparison week and I saw the great interest the community had on my Bitcoin/ Gold comparison, I thought I would try another one. As I was crossing charts I stumbled upon this one: Litecoin and Silver. As with BTC and Gold, the time frames are different (1W for LTC, 1M for Silver) as Silver is a traditional commodity used commonly for...
Pattern: Channel Down on 1D. Signal: Bullish as the inner Lower Low trend line has been touched. Target: 14.900 (estimated Lower High).
GOLD, soon next 2-3 weeks gold will start its seasonal bullish movement for longer term. while usd suspect down mid of May.
Pattern: Falling Wedge on 1D. Signal: Bearish if the pattern breaks downwards, bullish if the pattern breaks upwards. Target: 14.500 is it breaks downwards, 15.350 if it breaks upwards.
Pattern: Ascending Triangle on 4H. Signal: Bullish after a Low was made. Target: 15.5000 (the 1D Resistance).
Pattern: Channel Up on 1D. Signal: Bullish as last week the 1D Channel Up made its Higher Low. Target: 16.500 which is the technical Higher High based on the basis difference between HHs.
Intraday target: $1270 Long-term target: $1183
Intraday target: $1270 Long-term target: $1183