SLV consolidating at this level and waiting for GLD for the next move. SLV did a cool price by consolidating just below 2 trend lines which could be very bullish if break them. However, the issue could be as GLD is way overbought and likely will drop. With a drop-in GLD, it would be hard for SLV not to drop too but in the stock market, everything is possible.
SLV...
SLV weekly is at major major trendline which was formed and act as resistance in 2011. The possibility of breaking above that line at the moment is not big.
Volume in this whole leg is dropping and dropping which is an indication of a fake up move.
RSI is way overbought.
MACD histogram ticking lower while the MACD line starts to turn and it could soon start to...
SLV is at top of the huge symmetrical triangle. A few days ago it break down from a rising wedge which is a bearish pattern. On 23 and 24 it restest trending of that rising wedge, but support became resistance, and SLV got rejected hard. At the moment SLV is making a bear pullback will nice opportunity for a further drop.
Volume is confirming price fall as the...
Metals have been performing pretty good, AMEX:DBB is up +21% in the last 6 months and above its 200-day MA
The copper ETF, AMEX:CPER is up +12% in the last month and breaking out from resistance.
Could AMEX:SLV follow up? and after silver could AMEX:IAU ?
I'll wait for the breakout above $22.50 with target at $26.
Silver coming up against downward resistance. Looks like a good spot to short here. This goes incorporates well with my tactical bounce in the dollar too.
Price is pausing in the presence of this inside Bear Butterfly's PRZ. Expect a roll over to or near to target1 as a minimum Type1 reaction. If price has natural harmonic reaction to the .236 retrace and virtually immediately rebounds, expect at very least a retest of the high, but a test up to the HOP would be more likely; setting up a potential divergent top...
I havent been trading for awhile since I started a new business. Now that my new business acheved ROI I'm back in the markets and looking at some of my old charts. This one played out perfectly....
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This thing wants to bust out like a pimple! TV wants me to write a bunch of crap here in order to post but isnt it true what they say? A picture is worth 1000 words so why do I need to type it out?
It is important to remember that trading in any financial market carries inherent risks, and it is essential to develop a sound trading strategy and properly manage your risk in order to minimize potential losses.
$SLV backfilled that beautiful gap. But strength like that doesn’t disappear completely. Take profits and check for new entry. 2023 will be a commodity boom I expect. I don’t want it at all as it will screw over everyone in America which is what RC wants. Going to be rough. Make this money now. Future is not looking good. Wonder if this is partly to get trump back...
big bullish impulse to 25-28-30+ is expecting if we can get monthly candle close over this trend resistance!
lovely bounce from SMA's/RSI recently as well, drop boost and follow if you enjoyed <3 thanks
This is one to watch. As the US Dollar Index (DXY) falls, gold and silver will go up. Take a look at the 1M MACD, we could see a long bull run in metals, especially silver.
SLV has shot up again in the past couple of weeks. After taking a look its a bid extended from the 20,50,100 day MAs on the daily chart. Volume hasn't been anything significant and its facing a long standing trendline. Dollar has also been melting down which is a nice catalyst for SLV but eventually the dollar should find some support near term imo. I expect SLV...
