SLV
Gold coiling for move higher#Gold still looks strong to me. Price remains in early stages of 5th wave higher. Rising channel from the Aug '18 low remains in tact. Key levels I'm watching are 1540 to downside, which would test rising support & 1590 to upside. Break should kickstart next leg higher $GLD $GDX
How do we rise silver prices?Silver's got to get back in the game soon.
Looks like we're holding in a decent area of support within the triangle consolidation from the last run up.
I'm slightly bullish, but I would like to see silver reclaim that $18 zone to get feeling even more bullish.
Bullish LongtermSilver is having a hard time with all the decent earnings reports and greed overwhelming wall street.
Longterm however, silver is posed to outperform, and continue performing.
Gotta find me some miners with good dividends.
Suggestions appreciated. :)
I'm BullishSilver held important levels back in November-December of last year.
Since then I count a pretty solid 5 wave move up into the new year and believe we are setting up for the next upwave.
As always let me know what you all think, but I'm looking for silver to go above $20 by the summer.
SILVER - Bullish Patterns Abound on Weekly ChartSilver's weekly candle charts have now thrown 3 bullish candlestick patterns in a row with a triple pin bar setup, and the final pin bar also acting as a bullish engulfing bar. This setup is offering an attractive risk:reward for a bullish upside breakout.
Silver coming into support zoneThe 17.45 area in #Silver has been a key area of support/resistance since early 2018. Price is now approaching falling support of the bull flag that started in early Jan. Price should find support here. If this area doesn't hold it could be a quick drop to ~16.90. $SLV $SIL $SI_F
Silver looking like a downside move incoming SHORT SILVERIt looks like Silver has switched to a sell a few days ago and we really haven't seen much downside action since. However, the price support line looks like it's going to be violate with the RSI losing 50 and turning into resistance. GL
SLV - Progress ReportSLV has completed a five wave up move. As my overall price objective for the main move is at least 19.58, it's my assumption that this was just a larger wave 1. A wave 2 may have already completed with a .382% retracement. There do appear to be 3 waves signifying a corrective wave. Or a larger A-B-C correction might take price down to the 50% fib level of 16.33.
I had previously bought Jan 2020 15-17 call spreads and on the rally, sold off the 15 calls, leaving me short the 17s. One more week is left until January expiration. These short calls closed at 0.13 indicating that the market expects SLV to rise to 17.13 next week.
Strong relationships have been noted with stocks rallying and silver and bonds falling, and vice versa. Could be that stocks have completed a major five wave move up and may begin a corrective wave. IF the correlations continue to hold, one can expect strength in precious metals and bonds.
Gold Getting OverboughtRe: moves in #gold & #silver. Faded both & closed my futures positions overnight. Prices need to cool off. Gold way overbought (good LT, not ST) & daily candle forming shooting star. RR here not good. Looking for a reentry ~50% retracement from breakout @ ~1530. $GLD $SLV $GDX
Very bullish price action on this uranium stockThis stock is testing a 3 year trend line on the weekly time frame while building a strong 12 month base at the .15 cent level. That is bullish. Some may argue it has already broken out, but from my vantage point, it will sometime in the next week or two.
What a bottom looks like: PlatinumThe analysis above builds a case for justifying a developing bottom in platinum prices. Based on its price history, platinum prices are likely to breakout in 2020.
Silver Elliot Wave Trend AnalysisBy this count, it appears we may be in wave 1 of an impulse count. There's a good deal of overhead resistance at previous highs. My expectation would be to eventually break through this, possibly after a wave 2 down, which would initiate a wave 3 on the way to higher highs.
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XAG/USD Price Action Analysis | The Next Leg DownSilver is consolidating in the main Trading Range after creating the Distribution Schematic. A visit to the Range High in order to gather the enough fuel for the next pullback to the below of the Range, is the trigger for the short position.
Entry: 17.49
SL: 18.01
TP-1: 16.51
TP-2: 15.66
R/R: 3.52
Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.
The ideas published here are not financial advices.
SLV - Weekly Chart BreakoutThe weekly chart for the iShares Silver ETF shows how it has been pulling back from its recent highs back in early September. The stock broke down in early November but was able to find support along the 50-day EMA line. It has managed to break out again this week as it nears volume levels that will not be able to hold much resistance against the price. Continued strength in price should help a Golden Cross occur to confirm the bullish strength behind this commodity.
I would like to see this ETF clear $17.10 just so it gets above and holds that last volume level but definitely looking promising. My potential price targets are noted.
Silver Breakout Pushing Towards Key LevelsPowerful move in #silver this morning. Look for some consolidation/pullback here as it works through supply. Get above $18.30 and the targets are $18.90 and $19.70 $SLV $SIL $SILJ
Gold, Bitcoin, and Silver are all primed to break upwardInflation is going to rear its head.
5x growth of global money supply is inflating asset prices.
Meanwhile, Gold, Bitcoin, and Silver are all primed to break upward in unison, after remarkably similar structures: $GLD $BTC $SLV
