I DON'T MAKE THAT MANY SILVER CHARTS BC OF THE RANDOM VOL SOMETIMES.
1. silver hit "curve confirmation" weeks ago, it's just waiting for the right time
2. that seems to be the June FOMC
3. note higher targets here EVEN THO IT AN HIT 40+, OVER 37.50 IS VERY TRICKY, WATCH CLOSELY
(note: if the trade analysis brings you some jingle, consider tossing a Hamilton or Andrew Jackson in the collection pail . i'll take it as an offering: im looking to crankup a DOOMSDAY PARTY i got planned down in Texas, and your offering will not go unnoticed spiritually)
Greetings investors, traders, speculators, technicians.
im looking to throw out another...
SIlver (USD)- Monthly chart. Must break out of down-slopping channel (pink).
Sadly, hasn't even retraced past the 23.6% Fib Retracement from the 2011 highs.
Silver (USD)- clearly has a lot of work to do to recover from the blow off top of 2011.
Silver (AUD)- Monthly chart. Potentially forming a Double bottom.
Note over head resistance (yellow line)- 4 failed previous attempts.
Yellow line also coincides with 38.2% Fib retracement from the 2011 highs. So a very important line to break to complete Double bottom.
Silver has risen since my last posting (see link below). We may get a short term consolidation here if this is .3 then another rise to .5 then a correction. Or we if this is .01 of .3 we get a rapid extended rise from here. We'll see. If price drops below .1 this concept is wrong.
As precious metals have slowly gained momentum late this year again, USLV is part of my two step post of updating people on what JNUG and USLV will look like in the coming months.
On JNUG, I believe 130 is possible by Q2 2020. Consequently, I see big gains in 2020 for Silver as well and I believe it is very possible to see USLV in the $165-175 range by March or...
We got another reversal confrimation today. Like gold, we are heading for a lower low on this pullback. I'd expect to see 15.8-16.3. Invalidate this position if the recent high from yesterday is taken out.