SILVER Big Bullish Move Likely Coming SLV 2019!
Updated
SILVER has a high probability of exploding in price. At this current level around $14 SLV , it is very possible that price could go 2x 3x or even more. Here's why...
Double Bottom on Weekly chart
Double Bottom on Monthly chart
Bullish Breakout of channel from August 2018 - daily and short term
Bullish divergence on Weekly
I was watching this channel on SLV which has been in effect since August 2018. In it is featured a double bottom . Especially when looking as a weekly time frame, this double bottom is accompanied by divergence in the indicators and this level is ALSO a monthly support, which also looks like a double bottom from 2015!. This is all very strong long term.
Once the price finally broke out of the channel as it did today (seen on the weekly and smaller time frames), serious consideration needs to be paid as to when to enter.
It is very possible that we see a correction in the overall market very soon.. either a bullish pop, or at least a pause in the violent sell off... And for that, I'm going to wait and watch SLV. I think a pull back (a retest) of SLV could coincide with a rebound of stocks. This would make perfect sense as for example, SPY might want to bounce to test all the supports is just blew through, and SLV might want to do one final consolidation before blast off.
That last part is just my thought as to how it might play out.. But the main thing is, whether entering now or in a month or so, chances are good for a BIG Bullish move in Silver into 2019 and beyond.
Travis
JMJ - UIOGD
Double Bottom on Weekly chart
Double Bottom on Monthly chart
Bullish Breakout of channel from August 2018 - daily and short term
Bullish divergence on Weekly
I was watching this channel on SLV which has been in effect since August 2018. In it is featured a double bottom . Especially when looking as a weekly time frame, this double bottom is accompanied by divergence in the indicators and this level is ALSO a monthly support, which also looks like a double bottom from 2015!. This is all very strong long term.
Once the price finally broke out of the channel as it did today (seen on the weekly and smaller time frames), serious consideration needs to be paid as to when to enter.
It is very possible that we see a correction in the overall market very soon.. either a bullish pop, or at least a pause in the violent sell off... And for that, I'm going to wait and watch SLV. I think a pull back (a retest) of SLV could coincide with a rebound of stocks. This would make perfect sense as for example, SPY might want to bounce to test all the supports is just blew through, and SLV might want to do one final consolidation before blast off.
That last part is just my thought as to how it might play out.. But the main thing is, whether entering now or in a month or so, chances are good for a BIG Bullish move in Silver into 2019 and beyond.
Travis
JMJ - UIOGD
Note
not exactly a BIG Bullish move yet... but it is a bullish move.
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