Silver | Cyclical Bear Market for 2019Silver may push off resistance around $15.60 back into consolidation with support at $13.65. If support is breached on the weekly timeframe, this market may finally capitulate with a target of $10.35. Remember, this market has been in a cyclical bear since 2013 on the weekly and lower, and the EMA50 may cross below the EMA200 this year on the monthly:
***This is not investment advice and is simply an educational analysis of the market and/or pair. By reading this post you acknowledge that you will use the information here at YOUR OWN RISK
Bullion
Gold Future breakout from falling wedgeAfter G20 meeting and outcomes related to pause of trade war between US and China brings Dollar index to cool down from High level.
Technically Gold future continuous contract breakout from falling wedge pattern and to consider this breakout and price forecast it can rise up to $1261-$1266.
Now $1222-$1224 act as support.
Gold's getting close to a hot spot!HEY TRADERS!!
Well well well on a weekly chart we can see inside bars so fakey may be coming next. We have only one session to produce that weekly fakey tomorrow.
So in short we have 2 options:
Either we bounce from gold fibo(618) tomorrow or we will drop lower to 1172 area to hit a hot spot (786 fibo +monthly TL). If we bounce again from that monthly TL we could also see possible Double Bottom to be created.
What are your thoughts traders?
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HAPPY TRADING!
Silver Priced In EurosI'm currently traveling through Europe, doing a tour of Germany, France and Spain. Being the Gold and Silver bug that I am, I like to check the price charts in the currency I'm using.
Even priced in Euros, Silver is painting a deathly head and shoulders pattern, probing critical support. Even in Euros, the measured move projects down to below the 2008 low of 6.77.
I buy physical Gold and Silver more out of habit and as device of money management. But I will continue to hedge any purchases - the picture does not look pretty, even in Euros.
Gold daily overviewThe recently, experimentally drawn pattern on the yellow metal’s charts has been broken. However, note that this provides an opportunity for more charting.
First of all, if one looks at the recent almost horizontal decline, it can be spotted that there exists a short term descending pattern. Due to that reason it can be deducted that the previous pattern represented the previous junior move.
By using these facts one can draw a speculative medium scale ascending pattern, which the previous charts lacked. This chart combined with the close by simple moving averages can be used for guidance.
Is Silver going to brake bullish out of the current Pennant?It is a matter of time for Silver to brake the current Pennant.
Due to numerous reason (check the attached idea) my opinion is that it will brake bullish. The only question is if it will have a false brake down before the pump starts. in case of a brake down, I see the levels of 15.575 and 14.630 as strong horizontal support
GOLD XAUUSD Target Hits 1Gold finally breaks the resistance formed on the downside at 1301. I had posted the chart a month back, it was clear that gold will fall due to multiple attempts to the upside but couldnt breakthrough. We can see some minor pull back to 1301 and than another leg down towards 1275/70, I am looking at 1220 being my first target on the down side. as long as it stays below 1305, We can expect big leg downs on this commodity.
Silver READY TO LAUNCH Look.... Poor Silver has been manipulated for years... but that's okay.. Cheap $silver for us right??
Better hurry up and stack as much as possible cause things will change quick...!
Silver is completely off the radar to most investors,
it will turn out to be one of the best investments to own as the massive amount of leverage in the stock and real estate market evaporates...
March 26th: China Petro Gold Backed Yuan Starts Trading on this date. No more Petrodollar...
Source: www.zerohedge.com
The last 7 years... JP Morgan has accumulated over 130 million ounces of $Silver bullion. HMM
Source: www.zerohedge.com
We look at how many net short contracts there are,
Source: seekingalpha.com
It is super undervalued compared to other metals, Palladium, Platinum, Gold.
It is artificiality cheap due to manipulation.
Silver indeed is true wealth. EVERYONE should have some bullion with them.
-Luke
XAU/USD daily overviewAfter the massive drop caused by the appreciation of the US Dollar on Tuesday, the yellow metal's price traded sideways between two pivot point levels. However, it was about to continue the decline.
The reasons for such hypothesis are two. First is the fact that the metal has fully confirmed the breaking of the previous dominant channel up pattern. Second is the fact that the fall of Tuesday revealed a junior channel down pattern.
In general, the surge should occur, when the upper trend line of the junior pattern forces the commodity price lower through the support of the weekly PP, which is located at the 1,316.08 level.
Is the silver market ready to Rally?The last 2 years the silver market is behaving similar to mid 2003 to mid 2005.
Even if we assume that the Stock Market, Bond Market and Housing Market will not correct the coming 2 years, the Silver Market looks really bullish.
Especially if we take into consideration the recent capitulation in the bullion market (www.bullionbaron.com), the "Crushed Profit Margins At Largest Primary Silver Mining Producer"(www.moneymetals.com), a historically high GOLD/Silver ratio and the fact that nowadays we are using Silver for industrial purposes more than ever, the long position constitutes a relatively safe bet.
XAUUSD (GOLD) - 1D - Difficult Long TradeIf you like this idea leave a like and follow me to get all of my updates :) I would love to talk to you so send me a message or comment!
Underlying: XAUUSD (GOLD)
Time frame: 1D
This is a tough one to trade. Recently I posted a gold chart showing the "main" range and then a slightly larger range. Yesterday we broke below the "main" range and entered that wider range which is a much better opportunity to get long, if you are wanting to get long Gold.
One important thing to note; is that the MACD on the daily chart has not fully passed below the centre line and could mean a grind lower still. Once that has passed the centre line (0) it may be an even better time to get long. Play this one carefully. I will keep posting updates as things progress.
If you want to place a stop you can do so outside of the wider range around 1250.00 at least.
XAU/USD moves exactly as expectedThe yellow metal’s price movements in the past trading session have become increasingly easy to forecast. Moreover, the future also seems clear.
First of all, the bullion has revealed the medium term ascending channel’s borders, which help to predict when the metal will reach above the 1,300 mark. Secondly, the commodity price has reached above the 1,290 mark and touched the 1,295 level on Friday.
In the near future it can be expected that the metal’s price will surge above the 1,300 mark. However, that can be hindered, if the new weekly pivot points on Monday obstruct the surge.
XAU/USD reaches 1,270 markThe bullion reached the targeted 1,270 mark, as the better than expected fundamental data was released during the middle of Tuesday’s trading session. In addition, the fall that occurred due to the release of the data stopped exactly at the support of the junior descending channel pattern.
As a result on Wednesday it can be expected that the commodity price will reach higher and touch the upper trend line of the channel. However, by looking at the various level of significance and taking into account already broken lines, it can be assumed that the movement of the metal could be rather flat until it reaches the support of the active dominant pattern just below the 1,270 mark.
XAU/USD set for more gainsIt can be observed on the hourly chart for the yellow metal that the bullion broke out of the descending channel pattern to the upside. Due to that reason it can be assumed that more gains are to be scored, as on Thursday morning the commodity price fluctuated just below the 1,280 mark. The 1,280 mark seemed to pose some sort of rather weak but still notable resistance.
This recent breakout, which was initially not expected, occurred due to fundamental reasons. The recent quarrels between the United States and North Korea have created a sort of run to safety. Moreover, it reversed the recent fundamental strengthening of the US Dollar after the JOLTS Jobs Openings release.
XAU/USD - Daily outlookXAU/USD slips to 100-hour SMA
The first half of previous trading day the yellow metal spent in a confident upward movement, supported by the 55-hour SMA near 1,267.26 as well as the release of a number of disappointing US macroeconomic data.
Once an upside momentum was over, the buck started to restore lost positions and dragged the rate to the bottom, passing through the 20-, 55- and 100-hour SMAs.
Given that SWFX traders remain slightly bearish on the pair, it might slip a little bit further towards the bottom trend-line of an ascending channel that is backed up by the weekly PP at 1,261.80 and the approaching 200-hour SMA.
On the other hand, certain technical indicators send a signal that the bullion is already oversold and, thus, might start the surge without reaching the pattern’s boundary.
Gold rally losing momentumThis recent rally in gold seems to be coming to a halt as loss of momentum can be seen through divergence in RSI index, so it might be time to exit longs or book partial profits, one can take short position around 1242-1245 with a good risk reward, and once support at 1220 gets broken we might some good downside move till 1185 level.
XAGUSD : Long Term Buy Setup at $15.3Amid all bottoming speculations and Rate Hike in 2016. Gold and Silver gave tough time to the Bull Speculators at end of the year by diminishing the bull story for almost 80%. For EW, it was expected, though it was quickfall even for them.
I believe a long term traders should try to take small chunk of buy at $15.3 where I see the possible bottoming. I expect the Corrective pullback (wave 4) towards $23.350 . Which is almost 8$ rally. This is best possible trade for 2017 for any precious metals. I expect this to finish by at least end of 2nd qtr.
I will Keep posting on lower TF time to time whenever required or you ask me to do it.
Note : (c) of ABC could be extensive (618 fib) towards bottom, so plan and trade wisely with suitable money management.