30 min time frame.
After Earnings Drop, Broke Support at $9.
Fell to support at around $8.15 and hopefully will be moving up slow and steady from there.
With substantial weakness in the dollar, precious metals and the USD currency index have a strong inverse correlation.
Silver has broken out from a bullish falling wedge pattern, which it has back tested and then broken out of the back test. We can also see bullish divergence for the MACd technical indicator on the 8H for Silver spot too.
The attached chart...
Wyckoff defined three market laws:
1. the market is determined by supply and demand.
2. prices are the result of the considerations of market participants (bulls as well as bears) and therefore never random.
3. changes in volume and price, allow for predictions of shifts in supply and demand.
Wyckoff's trading method:
1. determine the current market...
CDE analysis (in USD)
We've recently had a breakout of horizontal resistance at $9.22 and it looks like we'll be heading towards $14.50 soon. We're already above the 52 week highs so I think this should happen in short order.
Coeur Mining looking to back test important trend shift line. Looking at an important higher up descending trend line, I see where my monthly defined magnets reside. So, again in a weight of evidence precious metals bull era, looking at upwards targets, even amidst fear. A monthly close above 8$ starts the waterfall up! #patience #gold #silver $slv $gld #fintwit...
Great pull-back, looking to take a position at 6.78. Don't think we'll touch that bottom again at the fib retrace line @ $6.50 unless gold breaks support at 1848.49, which puts the next stop closer to 1798, and then we'll have to take another look here. I'm guessing this slide touches down nearer 1855 which should be a great long entry point for the next run...
