Following the development of the silver price since the hype some time ago it seems that we now from a technical analysis standpoint are the bottom of a longer term trend channel. From here on out my idea is that we will turn back climbing upwards towards the upper parts of the trend channel. But hey - I'm just a TA Noob, so don't take me all to serious.
Price is still on the support trendline and support zone and its showing good rejection which could mean that price is ready to consolidate. After that consolidation period, price should give us a clear direction. However price is in a ascending channel and has a higher probability of moving higher because thats the overall trend
The chart shows everything. We are waiting for the purchase at 26.05. Always be green.
I think Silver might be gonging through a cup and handle pattern and wedging now for a break out to the upside. Maybe a good hedge against yields rising and inflation. Disclaimer - I own stocks in a silver mining company on the asx and I am no expert at technical analysis.
Often times traders want to know if an instrument's price is going up or down. It's an expectation of some sort of prediction. The problem is that price could be going down on one time frame but up on another. How is that possible? It's just a matter of perspective. You could see price move down on a 1 minute time frame but that's not so important. Really -...
IF you trade SILVER you Should be familiar with The GOLD/SILVER RATIO , which typically moves INVERSELY to the PRICE of SILVER , The GOLD/SILVER RATIO looks to be completing A WAVE-B correction, with WAVE-C starting soon in both GOLD/SILVER RATIO & SILVER , (albeit moving in INVERSE/opposite directions). SILVER = SHORT. GOLD/SILVER RATIO = LONG. Analyze and...
Hi traders Breakeven trade I took because I was looking for sell from roof but there price not moving fast. so now I will be watching for the price to complete abc pattern, I will be waiting for good price action on lower time frame to buy and do manage your trade. good luck your likes and comment below keeps us going
Silver poised for breakout on House stimulus bill passing this Friday. #silversqueeze #silver
Silver has recently made another attempt to move above the resistance at $28.30 but lost momentum and declined towards the support at $27.75. Currently, silver remains in the range between the support at $27.75 and the resistance at $28.30. If silver manages to settle above the resistance at $28.30, it will head towards the next resistance level which is located...
Price recently broke out the channel and has retested so am expecting price to drop.
A revision to V3, that sees this current 1-5 wave and subsequent ABC shortened by a fib ratio. Also, have added a fib channel to show the expected price of silver over the next few years. Now just need wait and see ;)
Since reaching $30 and coming back down, XAG has been stuck in a beautiful technical structure. It bounced straight off of the long-term fib at around $26.15 before becoming range bound between the weekly support at around $26.85 and the recent 0.618 level at about $27.75. Last night after the market opened back up, XAG crashed back down to the long term fib at...
When the 3 year moving average's rate of change begins to be noticeable, powerful momentum is playing out. Now imagine where #silver's price can spike if the 3 year moving average explodes 100% to 36$? 54$-113$ silver target. #silversqueeze #fintwit