After the aggressive break out of the descending trend line, our target of the 1.618 fib level was hit.
Expecting some sort of re-tracement to the red ascending trend line
Commercial is the most short silver since october 2009 and at levels similar to silver´s 2008 highs.
The COT INDEX is giving a strong sell signal for silver. When commercial is selling heavily, large and retail are buying heavily. Commercial is currently at 0, large is at 98.92, with retail at 100 When Commercial is selling with large and retail buying, silver...
Alongside Gold, Silver is breaking out. The downtrend seems to be over. I explained my reasoning on the chart, this is a clear breakout that I am going to trade. Every daily retracement should prove a good buying opportunity.
Silver is trading at it s Make or Break-Level @ 16.0$.
This Level is the key resistance level wehre a decisicion can be made:
1. Trying to catch the Breakout through the big resistance level with a Long Position entry 16,05 sl 15,4$ TP 17.20
2. You don`t believe the resistance will break? Then a short Position at the actual level could be interesting. Entry @...
A nice little Inverse S/H/S bottom has been completed, with the break above 14.36. The calculated target for this formation only call for a rally to 15.30, but we have to remember that this calculated targets only are the minimum expectation.
From an Elliott Wave perspective a firm bottom could be in place for a rally back to 18.50 and possibly even above for a...
The lines show us the long-term bear market has broken technically - repeatedly verified by reaction at lines.
PA needs to follow, so does NOT mean silver cannot still head south by a large % (c40%). OR hold here at 13.8.
Otherwise short if it breaks all the way back to the dominant line.
Long if holds.
Either way, big opportunity.
Updates to follow
