the_sunship

the_sunship

No daily bearish divergences, earnings are now past with a good shakeout. Positive MJ news coming daily so that may be the "reason". NY state still no announcement of legalization but NJ has voted for it. NY won't be made fools of by NJ folks, believe me. Short squeezes on the Ray are usually pretty fast. Cup and handle, head and shoulders, whatever you want...

the_sunship

Perhaps one more high but the trendline should hold the price back. Seems to be a clear ABC structure. 3460 area seems logical for a target. Then I think we probably rally higher past 3700 for the final push. That should be the most frustrating play for bears and the most convincing trap for bulls. Good luck!

the_sunship

lots of confusing corrections on the DXY in the past weeks, but today I think we finally start toward the target of 95.80 more or less. Afterwards we could have a much larger drop on the DXY, but we'll have to see how things look when (and if) the target is reached.

the_sunship

Bottoming pattern for the last 5 + years. This may breakout very strong before the end of this year. Long term inflation play. Good luck!

the_sunship

Objective short here with a tight stop - It could get saved overnight. For me it's bullish over 3333, otherwise the 200 ma looks likely sooner rather than later. If this plays out, maybe we get a more significant bounce from the 200ma back to the trendline again - or we just waterfall.

the_sunship

Looks like am objective buy at the channel. Hidden bull divergence also on the 4 hr chart. Daily RSI no bear divergence yet. I like

the_sunship

We have strong daily bullish divergence on the daily chart getting ready to play out. The higher the number, the more silver it takes to buy gold. In a downtrend, Silver would lose more (percentage wise) than Gold. I still expect 134 to get hit at some point (perhaps early next year). This is based on the mammoth head and shoulders formation on the monthly chart...

the_sunship

I know I've been early on this too many times. I'm also aware than many think "What bad news could possibly bring this thing down?" Well, it won't take much news at all if the institutions want out quick. We have triple weekly bear divergence on the RSI (quadruple if you want to go back to January of 2018). I think sooner rather than later we are set for an...

the_sunship

Measured target goes right to support at 16.60. Needs to break the trendline first. Silver's moves are not to be underestimated in either direction.

the_sunship

Held over strong support today - bullish. We may have a double correction now to 95+. Markets and Gold/Silver may continue to sell.

the_sunship

Wave 3 of 5 started this morning IMO. 1761 still the target, might be higher depending on length of waves. Good Luck

the_sunship

This last move still looks corrective. The larger pitchfork geometry says to be cautious here. If we drop, it will be very soon. I still think we go to the median line at some point.

the_sunship

200ma and trendline intersection is the logical target. Mid 1700s entirely possible. DXY rally will probably take everything down again.

the_sunship

With more upside probable on the dollar, this kick back rally may be close to being over. 18ma (purple) is the test. If it can't get over the 18ma, then we probably go lower to the 200 MA area (3100ish). The geometry looks correct for more downside right now - which most traders are not expecting. good luck, sunship

the_sunship

Looking good for a major bounce with daily bullish divs and corrective structure (looks complete). I still watch this sector because it attracts retail traders especially. The entire MJ space looks about ready to get attention again, probably having to do with what some politicians will say regarding legalization. Having said that, this is a bounce play. I...

the_sunship

There may be a bounce for a week or so but in general, I see this playing out to about 240ish (or the 200 ma) before a larger counter rally. If the channel doesn't hold, we're looking at 220 area. I think the high is in, but the unwind may take time. Good Luck

the_sunship

Expecting one more wave lower before a much larger rally on the dollar. Current bounce can get to 95.86 but I think 94.66 is more likely before the last leg lower.

the_sunship

Bear flag formation should reach 7500 to test the triangle within a few weeks, maybe quicker