Silver looking to break Q4 2021 high.
Moving toward higher end of past 3 quarter range.
Inflecting around 200 week average.
Low risk breakout play and looking for smaller time frames to add positions for free trades.
Ideally this breakout area gets validated over next 2 to 3 weeks.
We can see on the weekly charts that silver has been in consolidation for months and weakening heading near a weakly low zone. As the Fed continues to print more and more money inflating the American monetary supply and deflating the dollar this could potentially be a great opportunity for investors to accumulate a real tangible asset that you can hedge against the dollar.
I have been looking at XAGUSD vs XAGCAD, with the theory that the relative performance of the pairs could be a signal. In this scenario, CAD should be thought of as a proxy for commodities, of which Silver is just one. The USD is acting as a measure of the wider economy, and the role Silver plays in it.
Starting with the long term then, some general notes. The...
I have been stacking silver for about a year now. I believe the Canadian dollar will fall to new lows as the debt climbs and our gdp shrinks. Silver is now the rarest metal in the world due to the costs to mine it are greater than to mine it. Central banks may try to print their way out of this and that is what I expect. I have 1000 dollar price target on silver...
I just love charts and price action. Am i making money. Hell nah. In fact, I lost 10 racks.
good luck to yall this is analysis just for my studying and collecting data. peace ma people
Manage thy risk and let ur percentages compound or gamble away.
Looks like XAGCAD is retracting from 0.5 Fib and now might go up again. I personally will enter trade above 22.85 which is monthly pivot point. Also, looks like CAD is going to experience significant devaluation soon according to one of the respected Canadian traders @TheMacroTourist who has amazing article about only G7 country with inverted yield curve.
Easy one silver long. High demand and lack of silver exploration. Silver is used is almost every electronic including electric cars. Love silver here. Made a nice low with a huge bull rally. Only bought 100oz But hedged my position with a 2x bull etf.
From what I can tell, this upward movement has been a retrace and not a trend revesral (in the bigger picture). This is a quick analysis of the recent market movements and should NOT be used as financial advice. I am likely to be wrong and so this is mostly for just tracking purposes.
Yesterday morning, I noticed this candle on the 1h chart of XAG/CAD , we see the latest offers to be filled (arrow), which gave me a good signal for a possible turnaround, which is produced this morning, the market has even been higher.
On the 1D chart, we notice that the market is likely to change trend, today it is "testing" its resistance, but I believe...