Silver ETF (SLV) is exhibiting bearish momentum on its daily chart.
Price has been rejected twice under the yellow resistance trendline.
Oscillators are also starting to lean bearish.
Potential downside targets (short-term) could be -5% to -10% down.
Bearish Target(s): $22.33, $20.86.
However, if price breaks out and holds above $24, this idea would be negated.
I've not been doing a lot of technical analysis, but I really don't even need to keep up with it! I just come back every few months or years and check out my pitchforks. They're always giving me such an interesting perspective into the market.
If my pitchforks align with my love for Wyckoff Cycles (forextraininggroup.com), I trade those.
Today, for no reason, I...
Looking for SLV to give back some of its gains as it does some backing and filling. Think the dollar bounces here offering a challenging environment for precious metals.
Just a look at where it's been, and where it can go based on where it's been.
Entering one of the oldest seasons we have; realization and dependence on basic things like service and what we use the most. Typically, materials like rocks bring value, cause governments and government made cash doesn't. This season will be different than all others.
What has held...
Silver is looking like a high probable short opportunity.
its already very extended and overbought, but it may want to tag or pierce the orange trendline.
It seems like the US Dollar Index has peaked (as of now) at 108 which pushed gold and silver down drastically. But we could be on the verge of a massive breakout in silver, back up above $25 an ounce as well as gold back above $1900.
You could start a position now incase silver continues upward or wait for DXY to fall below 100, but by then, you may miss a...
Silver may outperform gold for the short term as SLV is screaming for attention. It just had a recent golden cross along with a by-signal measured by Aroon up. So don't miss out on this one at all! I'm also testing the same theory with other highly liquid ETFs as well for tomorrow's trading day.
SLV Breaking out, With Volume. See ON Balance volume to See relative volume on balance (already purchased) than in the past volume spikes. Consider supply vs demand if inflation continues.
Educational Resource:
www.youtube.com
Background:
Gold is Nearing All Time highs.
Silver is at about 1/2 of its pervious ATH.
COMEX:SI1!
www.tradingview.com
Silver is...
iShares Silver Trust (SLV) is developing a strong bullish bias based on this long-term, monthly, chart.
First, Silver peaked in April 2011 (left side of the chart).
This is followed by a strong bear market that hit a low in December 2015.
This low is tested again March 2020 thanks to Covid.
The whole period from late 2015 to early 2020 can be considered a...
SLV had a strong breakout, but is getting extended but is still very strong, supply on the left is rather scattered and not definite zone. Metals can have impulsive emotional moves, and can reverse reverse quickly
iShares Silver Trust forms bullish "Head and Shoulders Bottom" chart pattern
"Head and Shoulders Bottom" chart pattern formed on iShares Silver Trust (SLV:NYSE). This bullish signal indicates that the stock price may rise from the close of $21.94 to the range of $24.10 - $24.60. The pattern formed over 35 days which is roughly the period of time in which the...
Shopping Call Options for the next Silver Bull Run to 50
Looking at how to select the optimal months and strikes for potential silver upside.
Buying options is paying upfront for leverage, and the premiums evaporates just like interest payments on a loan.
Silver is very volatile, and in the past has swung wildly, in both directions, even when in a bull...
I think SLV retraces from here down to the $20.18 fib. Trend looks bullish but pullback is needed before continuing the trend. Also, this range has been a major resistance twice before
The dollar is in a secular downtrend and after a brief bounce back which we played on the long side, the DXY is looking toppy and should continue to rollover in the intermediate term. Besides stocks, a beneficiary of a weaker dollar are the precious metals. I like long SLV as a high beta trade and expect SLV to continue to bounce higher in the coming weeks.
