Silver has formed a bearish pin bar setup. There is a bit to be desired in this setup, but I think it does set up an opportunity for price to break lower and retest the 14.80 region. In regards to the pin bar, the real body is sitting a little bit high with a little too much bottom wick. I think it weakens the pattern a bit, but it is a fake out none the less...
I think it is time to publish my LONG TERM view on Silver. I believe within next couple of years we will witness a complete sentiment change on Silver as we getting out of depression phase of a market cycle. This change will manifest itself in a great rally to at least peak price of 2016 year which is $21. Later it will gain much more after possible retrace.
As...
Silver broke below March 7 low ($14.96) and shows a sequence of lower low from Feb 21 high ($16.2), suggesting further downside is likely in the shorter cycle. The decline from Feb 21 looks is unfolding as a zigzag Elliott Wave structure. Down from $16.2, wave (A) ended at $14.96 and wave (B) bounce ended at $15.64. Internal of wave (B) subdivided as a double...
Given how much physical silver JPMorgan has been acquiring (over 700 million ounces through COMEX), I don't think they will allow prices to fall below recent low accumulation levels of $14. That's less than 10% lower price from here! Start accumulating on the dips!!!
As illustrated via the solid blue RSI trendline, monthly futures have been accumulating pressure for about 7.5yrs. In our view, a monthly close above $16.15 would result in large capital inflows not seen since 2003. Risk associated with entering at present levels may be partially mitigated with a timely exit if weekly values close below $14.75. From a purely...
Silver has broken out of a diamond correction which is extremely bullish. This is an excellent long term entry point for silver and undervalued silver mining shares.
Right now, I see strong support @ $14, and strong resistance somewhere in $20's area. however, downtrend might be the problem here. On daily chart it looks like uptrend and small range between $15-16.2. I will try to go long from $15.2-15.4, SL below $15, TP $16 first half and will try to hold the rest if it goes even higher. Also, keep an eye for gold.
Silver make a Nice Move up after breaking the 4H Wedge and now Facing Resistance at DAY 20MA (120 Period MA in 4H Chart).
Anticipate a Quick short trade for target at the lower 4H Bollinger Band.
The Larger Silver Up Trend View Remain.
Technical View :
Bottom Confirmation With Bottom Break and Flip (Highly Reliable Pattern)
Silver Should Hold the Weekly 20MA Posted Earlier + 50% Retracement with Today Price Action.
Fundamental:
Pro : Market Sell down would Bring money back to precious metal.
Con : Strengthen USD may put pressure which make the recent low.
Trade Idea :
Silver to hold Weekly 20MA as posted previously
Set Tight Stop in Counter Trend Trade.
Fundamental :
Sliver under pressure with Strengthen of USD, However today breakout signalling a possible shifting of safe heaven investment to precious mental again with Stock Market Sentiment turning bearish.
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.
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COMEX:SI1!
