Si1
Silver [SI1!] Weekly Timeframe: Need to break 200 Week MAHi all,
Silver has been on a nice run since the double bottom bounce off the centerline of the descending channel back in Nov 18' causing a rally over 16%.
There was a breakout of it's descending channel on Dec 31st 18' marking the first time it has sustained meaningful trading outside this trajectory since July 2016! For Silver to go full bull mode with its counterpart Gold it needs to first break above it's own 200 Week MA. It got rejected once and now is in a profit taking pattern. We will need to watch this closely because a sustained break above it's 200 Week MA would mean a likely retest at 161.8% extension from Nov lows.
If things reverse it would be very bearish signal for Silver to fall back inside it's descending channel . So we would want to see silver bounce off the 38.2% Fib extension if you're looking to go long. If you're a bear you want to see a sustained break back inside the channel and then shorting just under the 38.2% extension as there is lots of air down to the Nov 18' lows.
Regards,
Bobby
Silver could drop to tag former valley of 15.16All waves within triangular consolidation wave B have been completed.
Target for wave C down is former low of $15.16
Silver: Aiming at the next Resistance. Bullish.Silver is close to crossing through its previous High and being on a strong (RSI = 69.203) but stable (MACD = 0.030, Highs/Lows = 0.0739, B/BP = 0.0990) 1D uptrend, it is expected to test the 1W Resistance at 16.200, which is our long TP. After that is will most likely enter into consolidation on a similar candle sequence it traded on during the first 6 months of 2018.
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The uncanny similarity between Bitcoin's & Silver's bear marketsThis is another self explanatory chart that examines the common features between Silver's bear market since the near $50 peak and Bitcoin's current bear market since the near $20000 peak. The frames are on a different time scale but serves best the purpose of this comparison.
Common features:
Descending Triangles on both that broke down to a lower level followed by an immediate minor rally. This is as far as Bitcoin goes as the next candles are yet to be unfold. On Silver this minor rally only served as a bull trap as it has since led to a prolonged and frustrating long term bear market, from which it hasn't yet recovered. Will Bitcoin share the same fate? That remains to be seen.
DXY SHORT DECEMBER 31, 2018cycle has been precise calling 5 of the 5 last moves. will it be right on the 6th? I think so.
SILVER Double Top Expected.end of January target is $15.91;
let's see if we can hit it. I'd like to see higher, but not likely in the short-term. I'm expecting not to break $16 this intermediate cycle; but very likely in the next one: come end of February to mid March, I think we then break resistance after a decent pull-back.
Silver Futures - Sell SignalSI1! broke out of the daily uptrend and entered the run phase of the Bump and Run Reversal Tops.
Cheers!
SILVER | 12M | FRACTAL GANN BOX SETUPHappy New Year O' man, silver could be on the verge of major breakout. If true, major resistance is expected around 20.86$. This is a long term chart of comex silver contracts.. enjoy!!
Cheers,
Keops
Why Silver's bubble hasn't reached a long term bottom.This is a simple study for investors who want to take a long term position on Silver, making use of Jean-Paul Rodrigue's Stages of a Bubble.
Although the "Fear" and "Capitulation" staged last longer than the theoretical pattern, the similarities are obvious through Silver's Bubble phase. It is also more likely that the "Despair" phase hasn't been entered yet and that the metal will continue to decline in the coming years 3 - 4 years until it starts returning to the "Mean".
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XAGUSD: Sideways within a Rectangle. Bigger downside. Short.Silver is trading within a 14.500 - 14.800 1D Rectangle (RSI = 52.138, STOCH = 53.739, ADX = 17.520, CCI = 1.5082, Highs/Lows = 0.0000) that is dictating the movement for the better part of the month. However as long as the 14.895 Resistance holds, the downside potential towards the 14.220 Support will be greater. Short TP = 14.265.
Silver. Short Opportunity. Target 12-13.66Silver market was undermined with a notorious Flash Crash occurred last summer.
The chart structure was spoiled but at the end of the day if we have enough patience
to wait until dust settles we could see the clear picture again.
I spotted for you both the blue downtrend and the yellow triangle pattern in the wave X on the chart.
It looks like we can gain from the last drop down to the previous low at the 13.65 or even lower to the downside
of the downtrend to the area of 12 handle.
The RSI indicator can't raise its head above the waterline beyond the 50 level and it favors the short.
The invalidation level is set at the finish of the wave "e" of X at the 17.70 level.
The minimum risk/reward then is equal to 2 and is healthily asymmetric.
SILVER IN CRASH MODE - USDOLLAR to 1021. Wave (X) is a complex correction, in that wave "X" is a triangle.
2. For me wave a) has finished and we are in the b) wave
3. I am expecting the wave "C" has to fall below the spike happen @ 14.390
to finish the wave (X)(red color)
4. Lot of possibilities wave formation and it may go messy too...
but for me this may happen here...dont bias on this..my stop
is in 15.600 below for the previous buy given @ 16.050-15.900.
5. I am looking my long position to closed once it reached and cross
above the 16.200 zone.
My top 2 outcomes for DXYElliot wave theory works best when wave structure becomes clear. It seems to be with DXY. Trading USLV and DSLV keying in on the DXY chart for clues.
Silver: fractal studyFound this fractal at the foot of the 2011 silver berg... looks ominous. Many of these types of "forerunner" fractals I've seen that lie at the foot of crypto bubbles have played out accurately so far.
Silver plays a very long game. A lot can happen, fundamentals can change (no I don't think they're factored in already).
Check back with this idea in 2222...
