TVC:SILVER OANDA:XAGUSD
Hello traders! Monthly supply range(blueish) held perfectly well and now we are due for a retest lower. *16.60$ - was never re-tested after a breakout and now should be a point of interest for investors. We should see it being re-tested very soon. MACD suggest that there's plenty of momentum left & $16.40 in November - very likely. Next target is $23...
This is a real possibility now that the downtrend for the last month or so is about to break. We are also seeing great weakness in the gold/silver ratio which means we should see silver outperform gold in the coming months. Therefore $21/oz is possible should the gold/silver ratio drop to around 70-77 depending on the price of gold. Watch the breakout.
We see a typical downtrend-move formed by lower highs and lower lows. For confirmation we have 2 trendlines + fibonacci levels (pervious at 61.8 reversed and now at 38.2) + Doji forming at the current level which indicates weakness by the short-term uptrend so therefore we should see weakness => to the downside. What do you think? Comments are welcome! :)
First a perfect reaction of the .382 swing high to swing low and now a rejection of the 618. Levels to watch are a possible triangle trendline but buying that trendline would be to risky. Better buy would breakout of the downtrend triangle with a retest. If we get back to the 382 at 17.4 we could either have a V-shape reaction or we could smash through, that would...
Silver in comparison with gold still has it's final word, even if gold will go up, it will not compare with silvers future gains. The structure of silver's pattern since 2011 permits for such a breakout. This will probably be last chance to make significant profit from gold and silver before final consolidation. Also the wave B in depicted ABC structure might last...
This is a screenshot of silver using my custom indicator. As you see the indicator paints bull (buy) and sell (bear) signals. Catching the majority of the uptrend and the downtrend to maximize profits.
The price of Silver (in USD) has left the ascending channel, tested the next fib retracements (one coming from dec 2015 in blue, the other recent from may 2019 in violet). This level has been and is still a strong resistance and we´ll see if the bulls will have enough strength to break through. After Silver has re-entered the parallel channel and touched the...
Here are the key factors to keep in mind today for Silver trades: New Zealand Performance of Services Index: The New Zealand Performance of Services Index for August was reported at 54.6. Forex traders can compare this to the New Zealand Performance of Services Index for July which was reported at 54.8. UK Rightmove House Prices: UK Rightmove House Prices for...
Price below 21 EMA is considered to be the beginning of a downtrend , also as per the charts price has been rejected after hitting the Resistance Note:- Do analyze the chart before opening a short position!!!
XAGUSD has made contact this week with its 1D Higher Low trend line (bold) where it has so far rebounded, as it made a Higher Low (1D Highs/Lows = 0.0000). With 1D holding marginally onto bullish levels (RSI = 56.268, MACD = 0.403, ADX = 44.272) it is likely to sustain this rise all the way to the 19.650 Resistance, as long as 17.780 holds. On a different occasion...
An update to a chart from 12 months ago on Silver > It could be that a long term correction completed at 13.891$ and now in the early stages of an impulsive move. Could be in wave 4 now but if price drops below 16.213$ then it would invalidate this theory and could potentially just be another corrective move, meaning a move towards or below recent lows.
Another massive bear channel on a longer term. We are not in a bull market yet. still looking for another leg down. Too much hype and positive sentiment on Silver and 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...