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...
Silver looks ready for another impulse very soon.
We also have some records positions in the COT right now, check cotbase.com on silver.
Trade at your own risk!
Last few years has been tough on silver bullion investors, but thankfully I only started my investing at 2013 bottom. Silver continues to consolidate, and underperform. I expect momentum on the downside, but I advise long term investors to take it as opportunity to buy. In 2019 - 2020, consolidation ought to be coming to an end and the momentum on the upside...
Hello Traders,
Long observed for XAGCAD, R:R approx 1 to 1+
I will be glad and honored for your relections on the WXY and Harmonics - Adv Cypher
Thank you.
Silver priced in the royal currency of Canada is about to test the downward trend line from the April high which so happens to be near the key 38.2% fib retrace of the descent from that high. Breaching this level would open the doors for an upside attempt at the $22.10 - $22.21 resistance (blue dashed line). After that, the price action can play out in several...
Silver priced in the royal currency of Canada is about to test the key 38.2% fib retrace of the descent from the April high. Breaching this level would open the doors for an upside attempt at the $22.10 - $22.21 resistance (blue dashed line). After that, the price action can play out in several ways. For now, if those trend lines stand true ... silver will be just...
Here's why it's a potentially good buying opportunity:
- the up trend,
- likely support at: 1) the potential demand level, 2) 100% size of the prior correction and 3) the median line's lower parallel (MLH),
- a perfect match of the strong SILVER and the weak CAD, currently the former oversold and the latter overbought.
