I think so. This is the gold to silver ratio. When silver outperforms gold this ration goes down. SLV has taken it on the chin this year and over the next few months I expect the pattern to resolve itself to the downside similar to the 2010-2012 period (look left). Indicators look ripe for a roll. Typically silver makes a new all time high within a year or less of...
SLV appears to be holding support at the .328 Fib retracement line. One theory says that after a .328 retracement, prices can be expected to rally to the .236 Fib line, @32. Another rally, similar to the last, could catapult prices to 38 or better. One long term spread I've been accumulating is the Jan 23 30-50 spread. Bought some more this morning for under...
too early to tell if silver is done declining, but there are optimistic signs. Volume and indicators are turning positive. DXY dollar saw some selling. Gold and Oil have been strong this week.
1. R1 $21.90, R2 $22.50
2. S1 $20.85, S2 $19.50
SLV has accelerated its fall from $23.00 and the price is trying to break back above $22.00. Given the current overall market condition with SLV on a correction trend, for warriors wanting to catch the bounce, can enter at $20.90 with a take-profit target of $21.90, stop loss at $19.95 (a must have to DT). For...
1. R1 $21.90, R2 $22.50
2. S1 $20.85, S2 $19.50
SLV has accelerated its fall from $23.00 and the price is trying to break back above $22.00. Given the current overall market condition with SLV on a correction trend, for warriors wanting to catch the bounce, can enter at $20.90 with a take-profit target of $21.90, stop loss at $19.95 (a must have to DT). For...
AMEX:SLV
Possible Scenario: LONG
Evidence: Price Action, Inverted hammer candlestick, money-flow
TP1: 22.5$
TP1: 23$
when Silver going to spike, it's a strong signal of bearish market, so I expect downtrend on SPY and QQQ
Call options 17th Sep, Strike 24$
*This is my idea and could be wrong 100%.
Wow, did this thing crash!
Anyway, I'm getting to buy the 21.65ish level and look for a quick turnaround. Futures tagged the 1.618 target to the downside. I'm not sure if this will be a snapback rally and will reverse back down, but it should be a pretty ez trade on the long side and I will just scale out.
This is based on my dowsing and intuitive methods, FYI.
SLV chart has been concentrating in the Diamond top on a weekly chart. Today it looks like it broke down. could go to 16-17 range. This is not a trading advise.
My count has a bullish ABCDE Triangle Corrective Wave unfolding for SLV., and if confirmed it will likely continue "sideways" for a bit longer.
See chart for general price and wave predictions. Waiting for confirmation that Wave C is done.
Indicators looking like a turn up is in the cards but volume isn't confirming IMO. However I wonder how/if retail...
I've been watching silver futures and not impressed with what it's been doing until I saw it nail the big 786 retracement this morning. I've observed the 786's as a critical level that's often respected. At least on the first test. It's lifting from there and I like it for a good bounce with a suggestion this may be a longer move up.
I love this pattern and I think its just a matter of time for SLV. Looking cheap right now sitting at support, I'm getting some farther out calls to be safe (like December), but I'm thinking it should have a run in the next couple months.
Similar situation as with GLD, silver is still accumulating and might go a little deeper. Good for holding long-term.
90% BUY / 100% HOLD
Estimated PO $45
Arca
