Silver (XAGUSD) is trading within a newly emerged Channel Up on the 1D chart (RSI = 60.617, MACD = 0.050, Highs/Lows = 0.2338) following the October 1st bottom just above the 1D Support Zone. Both the 1D candle action and the RSI sequence resembles and October/ November 2018 fractal which delivered a strong rise once the Channel Up broke. Our advice is to take a...
The flagpole and falling wedge formation is very visible on Silver and many of the silver tickers have many posts about this formation and so I think we will see a lot of people playing that technically. I believe there is a strong case for the development of an acceding triangle developing within the falling wedge, which we have just began to trade out...
The Gold/ Silver ratio is the proportional relationship between the respective spot prices of Gold and Silver. Put simply it describes how many ounces of silver can be bought with one ounce of gold. The ratio has been on a bearish trend since early July as Silver initiated a very aggressive cyclical rise and despite the early September decline on both metals,...
EARNINGS: Nothing is currently popping out on my screener that is highly liquid from an options standpoint and/or has ideal rank/implied metrics of >70% rank/>50% implied. EXCHANGE-TRADED FUNDS Pictured here is what is becoming a broken record trade in GDXJ (63/37) -- a 35/43 short strangle in the November cycle paying 1.12 at the mid price (.66 at 50 max). ...
Silver could have completed the simple abc zigzag correction to accumulate another bullish momentum. Watch breakout both of the trend line resistance and 50 on RSI.
Silver looks to be forming a descending parallel channel as price corrects from recent highs. I'm not going to pretend I'm an Elliot Wave expert, but the move up was a bullish impulse wave. The ABC correction is forming a parallel channel, which we can use for a possible entry if price breaks lower. The target also aligns closely to the 50% fib level, which I...
Waiting for Comex to open. Expecting more selling to break the range to the downside. AKA The Comex Smash. Two targets marked lower where I plan to buy with a tight stop. Unlikely we don't get at least a small bounce from those levels. The trend-line marked weekly support would be a big loss for bulls if they lose that support. Bias is long unless the...
The trendline was broken and retested at the 61.8% Fibonacci retracement level. Watch breakdown of current corrective structure. It could drop in between 16 and 17.
A lot of discussion is going around on whether or not Silver has enter a new long term Bull Cycle. We are not against this possibility. But we thought it is useful to analyze also the scenario where XAGUSD is only on its way to a Lower High before diving even more on the long term and continue its multi year Bear Cycle. On the three charts you see the current...
Throughout the recent rally in silver, you can see that Fibonacci levels have well respected at every level. Pullbacks occurred at 0.236, 0.385, 0.5, 0.618, followed by a (sometimes short) period of consolidation. 0.786 ($19.60) will be a price level to watch, which may provide an opportunity to enter with trend on a pullback. If you follow this level back to...
You can see the battle over the blue dashed trend-line. This is an important trend-line from the weekly chart. A daily close above this line would suggest a bullish breakout. $17.50 (previous high would be the next resistance) Will post a weekly chart in the comments to show the trend-line I'm referring to. DXY hitting resistance so I expect a move higher. ...
Gold is working a continuation triangle, implying a move higher. At this point spike to 1550 is likely, but I still think we're due for some sorta temporary top
The top silver stock has aggressively broken above a +2 year bearish Channel Down on 1W (RSI = 79.546) and showcases significant long term bullish potential. If a new Channel Up emerges on 1W then the Buy Zone is within 7.00 - 8.00. If the 1W Resistance break out aggressively then again the bullish potential will be even stronger. In both cases we will be going...
Silver has had a hyper strong 4 day streak with 1D extending the Channel Up towards the 16.200 1W Resistance. The price is now trading on the most optimal long term Sell Zone. Short term traders can target the 15.550 4H Support while can extend to 15.000 and even lower depending on future fundamentals. ** If you like our free content follow our profile...
Silver broke above the 1D bearish (Lower High) trend line (dashed) effectively ending the medium term downtrend. 4H was currently rejection on the first major Resistance test (14.800 - 14.840). Failure to break this may result in a drop back to the accumulation zone (TP = 14.400) but a break above 14.840 should see Silver testing major 1D Resistances (TP =...