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I've been watching Silver for a while now and finally got into a heavy long position when we saw it close in a inverted bull hammer at yearly lows earlier in the week. The following days painted what i'm interpreting as the metals market version of 3 white soldiers. These three things combined (multi year lows/support, ibull hammer, soldiers) form what to me ...
Silver could turn out to be the true superstar within the precious metals complex. There are no new inventions around silver that lead to this conclusion. It is based on technical analysis. Silver behaved like gold on steroids. The swings in both metals went into the same direction but had a far bigger magnitude in silver. There is no obvious reason why this ...
The industrial proxy peaked in early 2018 along with silver prices. It has ebbed and flowed, but the trend is obvious. Much of this has to due with China's economy rapidly slowing down. Even the state-run manufacturing PMI is about to dip below 50 into contraction while data from SpaceKnow suggests China's manufacturing sector is already below that 50 ...
As the waves develop in the Silver market some other possibilities present themselves. Seeing the possibility of a flat developing in the middle of this sell-off with price likely to rise up to around the 15.2 area. Then followed by a sell off into the seasonal low in December. Although the sell off looks like it is a little steep. A more gradual, time ...
*Very strong support in 14
*Price is less likely to go to 13.50
Watch the price action at the reversal point then buy
RR Ratio 1.5:1
(Note: Never trade with the money you can't afford to lose)
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Naked eye chart, really not much to say there.
- Silver looks like it may be attempting to break out of a "descending triangle looking" pattern
- Look for a solid close above the descending trend line resistance to confirm
- US Powell speech later on this evening could provide a lot of volatility to this pair so be careful
- Could easily snap back and break support
THIS IS NOT TRADE ADVICE NOR A TRADE CALL
Silver is a very important commodity, in fact it is even more useful that Gold. As only about 10% of produced Gold is used in various manufacturing, rest 90% goes for jewelry and just as safe haven, where Silver's 50% goes for manufacturing as an example your touch-screens, solar energy and medical sectors... But I'm not here to predict future of humanity :)
Patterns and targets TA classical
retest and down upload photo with zoom
We recently fell back to a long time low on Silver. Using pure technical analysis, I can see 3 major points where we could find a reversal, not including the current double bottom that may result in a reversal right now. Looking more a logical reasons why silver will go up, my recent research on mining prices are a big signal towards a bull market. Estimates on ...
1. Long- term trend on D1/W1 bearish
2. Price came to Key level $14.39, bounced from it so many times and made a fake broke.
3. Potential profit in 4 times bigger than risk.
4. The price is moving to key buy level $13.66. Near that level we can look for a Long only.
Sell at: $14.30
C.C.L. — Candle created level
C.A.P. — Candle Approved ...
It's interesting to me.
Just a chart for reference.
Ratio Down = Risk-On
Ratio Up = Risk-Off
Per FxStreet definition:
A contracting economy usually decreases the industrial demand for silver while gold tends to keep its value as a monetary asset. The reason is that silver functions mainly as an industrial metal while gold serves as a hedge against economic and political uncertainty. ...
Like gold, silver surged the last two weeks amid a global stock market correction. Now price is testing final resistance level of the trend. Follow the performance of the stock market & bonds closely, as a recovery in these assets will be very bearish for gold.
Bearish Reversal: Price rejects a breakout from the current trend. Profit levels to ...
The confluence of the long term trend line with the support (blue line) has given me an 'ah-ha' moment on this monthly chart! If this is indeed the bottom in silver, we may never see it at these prices again. The start of an exciting bull market could be already begun! Wishing you all the success that profitable trading can bring! :)
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please make sure if i posted the new chart for the same pair, it could be a possible wave count or update. Make sure that old one was invalid or possible or ...