Few technicals all seem to indicate move up in silver when the coil pops.
(1) RSI divergence seen back to 2013.
(2) Lower trendline remains intact in the weekly RSI reading.
(3) What appears as capitulation in August 2017 that temporarily fell below long term support trendline dating back to early-mid 2000s.
(4) No retest of the lower RSI weekly trendline...
Today was easy fade job, but support is holding and moving up. Seems to me that news is coming soon, estimating 2 weeks from today, market is starting to price in good news. Volatility coming one way or another I expect around May 18 or May 21
Weekly showing range bound short term with a little room to downside. Miners haven't shown gains yet with decreasing volatility in silver/gold and moving to positive FCF. Think we'll see miners catch up in the next 1-2 months with prices of precious metals which may stagnate and then it remains to be seen where this goes.
Short term bullish but don't know which way by July/August. Long term trendline holding support, but 50 mma acting as strong resistance past several months, stuck in trading range until it is not. I think we'll see miners move up a bit to July, then not certain of movement. Too many factors
Target price is $7.20 by July, then we'll see whether long or short. Think we may see a reversal to new lows at that point based on expected precious metals movements. Expected SPY to decrease intermediate, but not reverse until 2019/2020 and USD will see stronger inflationary pressures in late 2019 and 2020 is my guess.
Need to continue past 26. Could backtest 25. Once past 26, little resistance until 27.5-28. Volume should begin to pick-up in the next week. I expect at a minimum RSI on the daily to reach it's last high point at 54. It should really reach to 58+ and at that point, very likely to get to 70+. People who are shorting the stock down at this price level are crazy. The...