SILVER EXPLOSION !!
Updated
I've had an affinity to silver for many years.
For last batch of years, I've been watching and waiting for any real sustained interest in it wanting to stay above $17.12 on the SLV chart...
This last thrust is convincing. I marked a zone of $17.12 - $17.80 for great time to load up for what could be the biggest SILVER EXPLOSION in our lifetime.
Many factors here, but I'll point out the double bottom on monthly chart, with MACD divergence.
We saw volume really pick up in 2019.
Also, the RSI is at resistance, which once broken can see swift massive gains.
As you can see from the indicators during the last bubble, the bulk of the silver move happened when they were overbought.
Lastly, trading altcoins has been and will be a nice prep to navigate this SILVER EXPLOSION.
Ill add a few more supporting charts soon, like the rising wedge in the gold/silver ratio, and the bullish possibility in gold too.
Much like bitcoin, don't lose your position in the shakeouts along the way, just to buy back in FOMO areas.
UIOGD - JMJ
Travis
For last batch of years, I've been watching and waiting for any real sustained interest in it wanting to stay above $17.12 on the SLV chart...
This last thrust is convincing. I marked a zone of $17.12 - $17.80 for great time to load up for what could be the biggest SILVER EXPLOSION in our lifetime.
Many factors here, but I'll point out the double bottom on monthly chart, with MACD divergence.
We saw volume really pick up in 2019.
Also, the RSI is at resistance, which once broken can see swift massive gains.
As you can see from the indicators during the last bubble, the bulk of the silver move happened when they were overbought.
Lastly, trading altcoins has been and will be a nice prep to navigate this SILVER EXPLOSION.
Ill add a few more supporting charts soon, like the rising wedge in the gold/silver ratio, and the bullish possibility in gold too.
Much like bitcoin, don't lose your position in the shakeouts along the way, just to buy back in FOMO areas.
UIOGD - JMJ
Travis
Comment
Comment
Compared with Gold...Silver has only just begun to run.Comment
and just like that...SLV still unable to maintain the $17.12 level I mentioned. the entire idea is still valid, but its gotta have some candles above 17.12 .... an entire monthly candle above would be something of a confirmation for me.
Comment
Wow... the EXPLOSION was DOWN!The price of silver just hit $11.80 per ounce spot.
The gold/silver ratio is at blow off top levels!
Pay attention!! When this reverses, it is go time.
Comment
Hello! I hope you are enjoying the SILVER EXPLOSION! up 110% since the last comment
As I said on March 16, when SLV was at $12.00, "Pay attention!! When this reverses, it is go time."
3 days later came the reversal, and silver has been on a rocket since.
ALSO, as stated in that last update, I said "The gold/silver ratio is at blow off top levels!"
At the update it was at 117 (topped 3 days later at 129) and now sits at 75 !
I am posting now because at this point, I am scaling back my leverage plays. I played this move with call options, and an taking some profits here to buy physical silver and also have some fiat to re-enter call options on a possible pullback.
I remain very bullish long term.
(as I named this idea "Silver Explosion", I must acknowledge the recent explosion in Beirut, I will offer a few rosaries for those souls affected.)
JMJ - UIOGD
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.