Silver (XAGEUR) is looking bright as day
Updated
With today close I get a BUY signal from silver futures.
With this low volumes we can't consider it a breakout from the falling wedge like pattern just yet. But it is still remarquable.
concerning my indicators few noticeable things :
1- The RSI crossed above the to bolinger bands.
2- The Stochastic is up-sloping.
3- The price close above all exponential moving average.
Like all patterns of this type, we can expect a move to resistances lines situated at the start of the pattern.
My stop limit who would invalidate this technical analysis is below the 200 days EMA (blue curve).
I will keep you updated as the trend develop.
As always it is your own responsibility to manage risk properly.
Have a nice day.
With this low volumes we can't consider it a breakout from the falling wedge like pattern just yet. But it is still remarquable.
concerning my indicators few noticeable things :
1- The RSI crossed above the to bolinger bands.
2- The Stochastic is up-sloping.
3- The price close above all exponential moving average.
Like all patterns of this type, we can expect a move to resistances lines situated at the start of the pattern.
My stop limit who would invalidate this technical analysis is below the 200 days EMA (blue curve).
I will keep you updated as the trend develop.
As always it is your own responsibility to manage risk properly.
Have a nice day.
Trade active
Comment
the major hurdle to the price will be the ICHIMOKU cloud.
Trade closed manually
Silver did not outperform gold on this run but it was a nice trade anyway. time to take profit and keep it safe.Comment
after a period of consolidation SILVER seems ready to go up again.
Trade active
The market never cease to amaze me.
let's be greedy
Trade closed: stop reached
This engulfing candle on the weekly chart mark the end of this rally.
I was indeed expecting a higher high with "wave 5" but it did not happen.
Look like the wave 5 ended in a troncation.
So this Idea is closed no more update.
I will not long SILVER anymore as I expect a downtrend from there until the ABC correction is complete.
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