Platinum has been trending lower for more than four months, the March peak, and is finally showing signs of a potential bottom. Yesterday's whipsaw helped complete the right shoulder of an inverse head and shoulders pattern. Upon doing that, it also back-tested the trend line from its June peak, holding it as support perfectly. The large range consolidation over...
In this update we review the recent price action in the Silver futures contract and update the bearish trading strategy and price objectives to target
Silver (XAGUSD) has been on a short-term rise since the May 13 Low. The long-term pattern is a Channel Down since May 18 2021, so practically a whole year of Lower Highs and Lower Lows. The recent one, isn't a solid Lower Low however, in fact it resembles the August 09 2021 Low, which despite a short-term rise, it failed exactly on the 1D MA50 (blue trend-line)...
Type : Bullish Bounce Resistance: 23.870 Pivot: 23.280 Support : 22.875 Preferred case: Price is near to the key pivot level. We are expecting the price to potentially bounce off from our pivot level of 23.280 in line with 138.2% Fibonacci extension towards our 1st resistance level of 23.870 which is in line with 23.6% Fibonacci retracement. Alternative...
Type: Bearish Dip Resistance: 26.415 Pivot: 26.160 Support: 25.835 Preferred case: We see the potential for a bearish dip from our pivot at 26.160 in line with 38.2% Fibonacci retracement and 61.8% Fibonacci projection towards our 1st support at 25.835 in line with 61.8% Fibonacci retracement and 100% Fibonacci projection. Alternative scenario: Alternatively,...
The rock band “Tenacious D” consisting of Jack Black and Kyle Gass must soon face competition, namely from “Tenacious B”. The bears on the silver market have rightfully earned this name by perseveringly dragging silver further down despite recurrent countermovement. The expression “to bear up” doesn’t exist for nothing, after all! We expect the bears to keep going...
XAUUSD seems to be ready to break up this triangle 📐 and if successful I think there is chance for run to 2210 and even higher. Setting BUY STOP-LIMIT order to catch the breakout. GOLD come on! ENTRY : local high @ 1877 STOPLOSS (SL) : local low @ 1753 TARGET (TP) : height of the triangle projected from midpoint of the local range (BUY STOP-LIMIT -...
What was set in motion last October when the price rebounded on the 1W MA100, is taking place now, as Silver (XAGUSD) broke above its 1W MA50. On the shorter time-frame of 1D (current chart), the price appears to be replicating the December 2020 aggressive rise, which initially reached almost the 0.786 Fibonacci retracement level (28.000) and after a 1D MA50...
dg78 asked me about Silver... so a quick look here. The Silver Weekly chart is lagging Gold, but does appear to consolidating since mid 2021. Trendlines are tilting downwards as price appear to be testing harder each time. Last week closed above the 55EMA on a nice looking bullish candle that gapped up and pushed to close above the 55EMA. MACD in this instance...
Silver needs to relax a bit and as its last foray into the green was too short to enjoy, it has treated itself with another trip. We expect silver to extend the stay until the upper edge of the green zone between $23.69 and $24.43, where it should finish wave 2 in green. Then, it should turn around and leave the green zone to go down below the support at $21.94...
In this update we review the recent price action in Silver and identify the next high probability trading pattern and price objectives.
After a long period of consolidation has broken out. Should run to at least ~1960. Potential for a pullback to backest before doing so $GLD $GDX $GDXJ $SLV $SI_F $DXY $TNX $TLT
11.3.21 Silver: looking at some of the hidden issues of a trade that reached it's target.
10.12.21 Silver Dynamics IBKR ..................................................................
Next target is $40, that's coming out of the IH*S internally. IS a conventional bullflag. Have a core downchannel, now building on that support to the top-right corner to BO. DOn't expect whips below core channel - UNLIKE 1y silver consolidation, 1y sideways continuation pattern, no structure HENCE needed to hit the bottom-right corner to generate the power for...
10.1.21 SILVER : This is what a good reversal pattern looks like in my opinion. Ideally, we'd like to get long at the bottom, and now I'm showing you the chart a day later, and a day late. In a practical sense what the market did after he made a low helps define the reversal pattern. Therefore it may be forgivable that we give up precious points because we...
Silver Long Trade Marked On Chart XAGUSD Long Trade Marked On Chart SI1! Long Trade Marked On Chart GOOD RISK TO REWARD TRADE. PLEASE DO YOUR OWN DUE DILIGENCE AND ANALYSIS, TRADE AT YOUR OWN RISK.
9.3.21 Silver follow-up (hit target) .................................................................................................................