If you are wondering why #Silver is freezing up...
All you need to do is look at its quarterly chart.
I can't over emphasize the importance of the wall at 27$.
11 times it was denied, making it a critical level.
Bullish momentum is putting upwards pressure on it.
These levels offer guidance for traders interested in trading Silver MCX Futures in May, providing specific entry points, target prices, and stop-loss levels to manage risk.
Range Point: 80,680
Day Range: 958 points
Buy Above: 81,034
Average At: 80,921
Buy Target 1: 81,272
Buy Target 2: 81,638
Buyer Stoploss: 80,715
Sale Below: 80,808
Sale Target 1: 80,088
Sale...
In the next two options, with expiration dates on May 28 and June 25, bullish sentiment appeared on silver. Starting on April 19, the participant collected bullish spreads with construction sites 31/31.5 and 32.5/35 in his portfolio.
Based on the delta values of these strikes, these spreads can be classified as aggressive. The following is noteworthy: The position...
Today's silver futures are experiencing some pressure, reflecting a challenging day for the precious metal.
Yesterday, there were outflows in the portfolio on June 25 from strikes of 32.5/35. Outflows of funds from the portfolio are partial and did not lead to the liquidation of the portfolio, which indicates the management of the portfolio in a negative...
Gold (June) / Silver (May)
Gold, yesterday's close: Settled at 2346.4, down 67.4
Silver, yesterday's close: Settled at 27.245, down 1.599
Gold and Silver futures have been bludgeoned. If yesterday was not enough, seconds were served last night. Gold is testing into a critical area of support at 2300-2308.5 in which the market must not only hold and respond...
Early forecast for 2024, SILVER will be MUCH HIGHER.
In recent weeks I have started to accumulate SILVER and a number of precious metals mining stocks. I believe both will be going much higher over the net year+.
Currently $23+ I believe we shall see $26+ by early 2024 followed by $30+ over coming quarters.
The move from March 2020 to August 2020
Was a measured move that played out to the Tee.
We have a similar structure building that projects to the High 30's
Suggesting #Gold move beyond ATH's and #Silver the beta play to move faster in an attempt to catch up, and move towards it's high's again.
This is not to be taken as a trade. You may use it as part of your collection of 'research' before making your own decision, however.
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These are explicitly the "best-case scenarios" near term.
You can think of the red line as an increasing 'stop loss,' or better put, validation line. So long as the price is above the line, paths such as these are...
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Stay tuned for regular...
Silver hitting HARD opposition at 28$.
Silver Important Breakout Line is Also Resistance...
not a good look if the upper wick continues to grow on monthly candle
Yes, I gotta put this out there...
If #Silver is to reach much higher price targets, it won't do it in an absolute straight line!
Unless you zoom out to higher time frames, where shorter term corrections can't be seen.
If you are seeking for higher price points for #silver, you should hope it doesn't SUPER HEAT now on smaller time frames.
That type of FOMO...
🎯The chart is pretty self-explanatory as always!
🎯If I were you, I would keep an eye on this shiny metal.
🎯 With increasing turmoil over the globe, Precious metals are becoming lucrative.
🎯 Beautiful consolidation structures
Share your thoughts below!
⚠️Disclaimer: We are not registered advisors. The views expressed here are merely personal opinions....
Channels are an incredible tool for technical analysis. Today we're going to put them to the test with the recent moves up in silver, as it looks like the precious metal is currently sitting at a decision point that can (still) go either way.
MEASURING IMPLICATIONS OF CHANNELS
The real power of channeling is greater than just working with a supportive/resistive...
