Is silver’s seasonality about to monkey hammer prices lower? As market complacency is regained through a positive non-farm payroll headline, precious metals have been retreating on a stronger dollar and the assumption that the Greece v. European Union tension will end up honky-dory. However, are silver prices about to get pounded lower? Looking at a chart of...
Silver frequencies on the chart - bear forces are prevailing
My previous analysis indicated that Silver could fall to 15, 12 and bottom at 9. This was based on looking at Yearly, Monthly, Daily charts. All indications were that silver was not moving away from its downtrend. Now if you observe all the charts - yes silver is still in a downward spiral until you check the daily and it is clear that silver is forming some...
Technical view, no QE speculations. SLV has reached: 200 DMA; resistance at 18.685; 61.8 retracement of last downleg. Downtrend is still intact, 200 dma still falling. Enough to enter short for pullback to 16 level, where could be decided if trend will proceed or reverse, but under yearly pivot the odds favor downtrend.
M botttom - silver and the precious metals are gaining strength. Targeting 19.19.
It has been quite some time since i see a wild range in a month and yet price between open and close is very tight. Yes, Dec 2014 is that candle that is what i considered a classical high spin wave DOJI And monthly long was triggered. Lets see if it can break back into uptrendline and test the resistance at 18.505 where it broke down last.
***Please note that this chart is of the Silver/Gold ratio, not the Gold/Silver ratio as is indicated on the chart. Apologies for any confusion. The Silver/Gold ratio hit a very familiar zone that is worth taking a note of before the start of 2015. While gold is still above this year's opening price (it did briefly fall below in November), silver has gotten...
Chart of Silver Spot/Gold Spot Ratio showing bullish declining wedge w/bullish RSI divergence plus bullish wick on 12/1/14. If ratio is rising, is supposedly bullish for metals in general. TBD.
Since April 2011, Silver went down in wave of 50% followed by periods of 1-year consolidation. The final target may be 30% lower. Not guaranteed it goes to target but bottom fishers have to factor 10.80ish as potential target. I am not sure if the Swiss referendum on gold will have an impact on Gold but the trading Friday is not telling a good story
This chart is easier to see the channel, have not been able to figure out how to delete older posts yet. This chart includes the Armstrong pi cycle date line of early Oct. 2015 which according to my other work Platinum and probably gold should see their final lows. As for silver I am not sure when its final low will come, it could come earlier than than the other...
Saw "Technician"'s silver chart and inspired me to take a look. What I am interested in was the bottoming and rebound in 1982, and if history can repeat, how we can ride it and reap it in the near future. Interesting time.
Just a simple observation, the price of silver is hitting 15.00 major level, which was the ceiling for a secular 25-years sideways range. We might find some support here. Breaking 15 might extend the reversal to prices we never expected. twitter.com Also at my Facebook page www.thefxchannel.com My best regards, Technician
Silver has some extreme bearishness built up behind it. I am bullish long-term, but we are very likely to see a $14-hand on the metal. The nearest support is found at $14.62, while resistance can be seen at $15.60 (broken support). There are some growth worries out of China, which could give short-term support. However, there is endless central bank intervention...
The Similarity of the moves is uncanny. Silver just made new lows, will BTC follow. Also notice how the moves in BTC are happening 3x faster so going into next year BTC might predict the direction of Silver.
I am just curious how P&F Silver chart looks like. This P&F chart tells me silver futures wish to have ACCELERATED downtrend! If the selling continue, the "O" in the chart will just continue vertically until it hits 13.88!
Ever since silver hit the channel top in 2011, price of silver has been engaging in this long term downtrend channel. To aggravate the bleakness, a descending triangle (larger one) was formed inside this downtrend channel-(liken to putting salts on a wound/adding fuel into a fire). Consequently, the price broke down of the long term uptrend channel bottom and...
Silver, like gold, is forming a significant bottom as its weekly and daily RSI, Stochastics and MACD have all either turned higher or are completing their bottoming stage. Significantly, silver has been trading within a price range that previously saw consolidation activity in the summer months of 2010 before silver skyrocketed to near 50. I`m not suggesting...