Like gold, silver is holding just above an important level (blue line). When somethings holds just above support without bouncing, it is usually a sign that the support will fail. If silver fails, it will trade down to $19.
WE ARE now touching the 21 week vwma,, I expect 21.80 to hold for, long term still a bit short 89 week ema is about to cross the 200 weekly sma, caution on long calls... may use a nadex bull spread to straddle
Not a Long or Short Pattern. Half Moon Marked Dead High or Low Going In To Next Full Moon. System = Wait for Half Moon Daily Bar To Close, Wait for Next Days Bar To Close, Trade Silver In That Direction with Stop 1 Tick Above the High Or Low of The Half Moon Bar. NO Need for Smart A** Remarks. It's not my Primary System...It works until it Doesn't for a...
Silver showing self affinity with 1971, many previously looked at the 1976 bottoming process. But i think the narrative for the longer term fits better with 1971. Silver and Gold will not bottom so close to the interring peak, atleast... According to historical price action it wouldn't.
For now however seasonality and many factors favor a sharp upside bounce.
Silver is still in correction, but has already dropped more than 61.8% Fibonacci Level and in addition we are at the lower BB(20,2). This should be a typical buy zone (see circle in pink), but there is no guarantee for higher prices. For me it is time to buy. A break out is possible every day. Be aware it is a risky trade!
Silver is in decline. Friday price action suggests a possible correction to the upside. I expect the price to reach 30 - 30.5 area in the 2nd half of march. Then the selling pressure could restart (sliding parallel and significant Fib area) and it is where I'm planning to short it. Gold has a similar pattern.
