Silver is in the bullish trend .
Price action made a complex pullback and rejected the support level .
The market is trading ascending channel and we expect further bullish move.
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Yes, #silver still has more work to do before getting my confirmed breakout call.
Because I use risk & money management, I do not feel #FOMO.
I can make equal or bigger gains, trading from a higher price point, with less risk.
Few understand this.
#fintwit #patience
COMEX:SI1!
Deficit in Supply
Inflation Hedge
Weaker Dollar is plus
Huge performance divergence to Gold. Possible catch up ?
Silver demand is forecasted to double
Historically cheap
Industrial use increases
Long term buying opportunity with a first price target of ~30 $
Today's silver price high is at the $21.40 level. We can say that we see the formation of a new lower high, and if we fail to move above the $21.40 level, we could see a bigger pullback in the price of silver. For a bearish option, we need a negative consolidation and a price drop to the $21.00 level. Increased pressure at that level could lead to a breakout...
1. Large bull flag on the weekly
2. Support tested and held
3. Global macro lends itself to store of value thesis, in addition to green transition requiring silver.
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The price of silver additionally fell today from yesterday's $19.20 level to $18.80. A strong bearish impulse in the previous four hours could cause the price of silver to continue to weaken and revisit last week's $18.00-$18.20 support zone. For a bullish option, we need a positive consolidation and a return above the $19.00 level. After that, we could expect the...
Have you been following my research, weekly videos, and Custom Metals Indexes?
If so, you already know why I've been telling traders/investors Gold/Silver are setting up just like 2003-04: building a momentum base over the past 24+ months.
The next move higher (over the next 5+ years) should be incredible.
Silver is up 32% over the past 90 days. Can you imagine...
Silver commands value both as a precious metal and an industrial metal. Silver is often considered as a poor man's gold. According to the Silver Institute, Silver is used in solar cells (also known as photovoltaic cells which convert sunlight into electricity), electrical switches, and chemical-producing catalysts. Its unique properties make it nearly impossible...
On Friday, the price of silver tried to start a new bullish trend, but it only managed to reach the $21.30 level. After that, we see a new bearish consolidation forming a new lower low at the $20.60 level. Now we are trying to hold on there to stop further decline in the price of silver. For a bearish option, we need passive consolidation and a breakout below...
Silver has formed a Triple Bottom and is above the 200MA.
These are all bullish signals for a trend reversal and is likely to shoot up.
First target is around $24.02
Silver chart analysis
The price of silver formed a new higher high at the $22.20 level. Today, the price broke above the $22.00 level, but the price did not stay there for long, and a pullback to the $21.90 level followed. We are back below $22.00, which could put some pressure on the price. We need a negative consolidation and a drop below the $21.80 level for...
Weekly Update, Silver Futures .
The pattern that I expect to see in the upcoming weeks now is also important to know that if any weekly close is above the fork this might be a catalyst for the prices to make new highs.
I can't see it yet playing out but worth bearing in mind.
Textbook ascending broadening wedge for the $gsr (#gold to #silver ratio) has a measured-move of 48.6, meaning 48 ounces of silver to buy one ounce of gold.
At TODAYS gold price, it implies $36/oz silver. But it will be more, because gold price will be more.
Silver had a huge move up in 2020, but that was all it managed to do back then. Since its first significant peak in August 2020, it went sideways and started declining. Silver was in a big bear market since 2011, then entered an accumulation range, and then had its capitulation move in March 2020. Then with all the fiscal stimulus, it skyrocketed, but most capital...
Silver Prices have been followed for centuries. Silver is a precious metal used in jewelry, silverware, electronics, and currency. Silver prices are widely followed in financial markets around the world. Silver has been traded for thousands of years and was once used for currency backing. Silver continues to be one of the most commonly traded commodities today. Silver prices are highly volatile due to speculation and supply and demand.
COMEX