Silver has broken out of a multiyear descending triangle pattern to the upside. Typically a descending triangle is a bearish pattern so for it to be foiled and having gone to the upside is extra bullish. Moreover, silver entered a bullish falling wedge pattern right after, back-tested the initial triangle's resistance-turned-support and continued upwards. There is...
Completed the bullish 5-0 from last post. Silver is closing it's resistances. Potential drop!
EARNINGS No options highly liquid underlyings announcing earnings this week. BROAD MARKET EEM (15/18) QQQ (19/19) IWM (19/18) SPY (19/15) EFA (10/12) One word ... . Well, maybe two: "Weak sauce," with ranks in the low quarter of their 52-week ranges and background implied at sub-20 across the board. SECTOR EXCHANGE-TRADED FUNDS Top 5 By Rank: GLD...
USLV in at $61 Worth 34 Month SMA or $100
XAUUSD GOLD Pull back Area for Jun 14 - 17 full moon Follow the 618 retrace
massive bull flag set up. See daily chart for set up. $SLV $AG $SILJ
good set up here. See Monthly chart to confirm $SILJ $SLV $USLV
Have a great day all and don't forget to check out the updates!
The chart speaks for itself. I'm glad I went long when I did. The rise of Gold, Silver, and yes Bitcoin, is a sign of a failing fiat currency system. Think about it. (My Previous SLV post)
Silver at the end of correction period Next major move : post 2021 Minimal chance to go over $15.60 from now till December 2020 Minimal chance to go lower than $13.50 from now till December 2020
Is anybody into precious metals? I am. I have been for years. I just put on some SLV today. The double bottom on the weekly and the falling wedge looks like it's time to go long. Normally I may not even bother because it has been such a slow mover for quite some time but as the stock markets continue to deteriorate and crypto continues to climb I think it is...
Looking at the daily chart for Silver, we can see a solid push from the $13.11 range in November to over $15 in February. However, since hitting strong overhead resistance this run appears to be losing steam. The ADX which measures the strength of the trend appears to have double topped. The MACD is showing bearish divergence as well. There is still a chance for...
Conservative play is wait for a bounce or aggressive is to buy here at this strong level of support.
consolidating well. watching for price break out of the wedge. two entry options with 16 target $SILJ $SHNY $GLD
Two important trend lines intersecting, expecting some large volatility in coming weeks
Silver in bullish falling wedge formation. Sitting at support as well.