The following developments for the silver price should be characterized by further increases until the green wave 3 is completed and forces the bulls to rest a little bit. However, a more prominent 3rd-degree-wave, namely the blue wave (iii), should be completed between $26.95 and $29.06, before pushing the course back down South. In any case, movements below...
The falling wedge pattern found on silver chart it means that the end of the consolidation phase that facilitated a pull back lower. Book Your Target according to your own risk level.
Silver has increase from $18.50 (Oct 20) to $23.33.
That is a 26% gain a month.
Silver will continue to rise over 2023
First Take profit will be - 24.50
Second take profit is - 25.75
@ 26 watch for a pivot point back down to 22.50 or it will break out to 30.
Silver double topped at the resistance.
Price action shows a divergence in the daily and 4H timeframes.
If the market fails to break through the resistance level , we can sell from the confluence level.
We anticipate a short-term pullback.
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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...
During the Asian trading session, the price of silver solidified support at the $23.20 level and launched a new bullish impulse to the $23.50 level. We now see a downside pullback and could revisit this morning's support level. If the pressure on the lower support level increases, a breakout of the price below is inevitable. The price would then drop down to the...
Gold/Silver bugs - are you ready for what a lot of us have been saying for the past 5+ years. The base/bottom in metals back in 2015 was the critical base for the next big move. This upward price swing should be the next accumulation phase which will drive a speculative phase in about 3~4+ years.
That speculative phase will be MASSIVE (should happen near...
Purple lines represent an ABCD move.
Point A is 23.69. This is near our entry of 23.39
Yellow lines are a descending channel.
The fall can be rapid.
I expect a bounce where the beige channel meets the lower mustard colored channel. The bounce could be to the red line.
This could be followed by further downside for several weeks.
12. 4. 22 It looks like gold and silver are going to trade higher, but there's a chance is that they could correct the little lower first, and I believe a lot of this Might be related to how the dollar moves. I think the relationshipOf the two index markets did I talked about today versus the metals markets I talked About today...Has some irony to it because 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...
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...
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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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 $
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...
