DeGRAM | Silver a trend continuation opportunitySilver dropped from the resistance, and it created a descending channel.
Price action created a resistance and a 61.8% fibo level as confluence zone.
If the market fails to break through the resistance level , we can sell from the confluence level.
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Silveranalysis
SILVER.. at his final supporting area ?? will hold it or not?#SILVER... market at his final supporting area .. keep close that area as we discussed in our pervious idea.
that is 22.30 around.. if market hold it then only in that case you can expect a bounce from here otherwise not at all.
if market clear that area in hour and half hour chart than you should not hold your buying position in said product.
keep close and don't be lazy here..
good luck
trade wisely
SILVER. at support of the week? will hold it or not?#SILVER.. well market very well hold upside resistance area and dropped.
as we discussed about silver upside resistance ,
now we have one of the most important area of the week and today that is 22.29
keep close it because it will play key role in today and further move to any side.
if market hold 22.29 then you can say it will again bounce back otherwise not..
trade wisely
good luck
"Silver's 44-Year Cup and Handle Formation"Silver: 44-Year Cup and Handle Formation Points to Bullish Continuation
Silver, a timeless asset with a rich history, is capturing the attention of investors as it forms a 44-year cup and handle pattern, signaling potential bullish continuation. The current compression of the handle, coupled with a bullish pennant setup, suggests that a breakout could herald the onset of the next major bull cycle. Let's explore the dynamics of silver and the promising prospects it holds for investors.
Understanding Silver's Cup and Handle Formation
Silver's cup and handle formation is a classic technical pattern characterized by a rounded bottom (the cup) followed by a consolidation period (the handle). This pattern typically signifies a period of accumulation and sets the stage for a potential breakout to higher levels. With the cup spanning 44 years, the formation holds significant historical significance and suggests a prolonged period of bullish sentiment.
Compression of the Handle and Bullish Pennant Setup
Currently, silver's handle is undergoing compression, indicating a tightening range of price movement. This consolidation phase is often accompanied by diminishing trading volumes, reflecting indecision among market participants. Additionally, the formation of a bullish pennant within the handle further reinforces the bullish bias, as it typically precedes a continuation of the prevailing uptrend.
Breakout Signal for the Next Major Bull Cycle
A breakout from the handle's compression zone is anticipated to signal the beginning of the next major bull cycle for silver. This breakout would validate the cup and handle pattern, confirming the bullish continuation thesis and potentially unleashing a significant upward move in silver prices. Traders and investors alike are closely monitoring key resistance levels for signs of a decisive breakout, which could mark a pivotal moment for silver markets.
Conclusion: Positioning for Bullish Momentum in Silver
In conclusion, silver's 44-year cup and handle formation, coupled with the compression of the handle and bullish pennant setup, suggest that the precious metal is poised for bullish continuation. As traders await a breakout signal for the next major bull cycle, strategic positioning and prudent risk management are essential for capitalizing on the potential upside in silver markets. With the historical significance of the pattern and the technical indicators aligning, silver enthusiasts are eagerly anticipating the next chapter in its enduring journey as a sought-after asset.
Silver to 23.52, then 24.40 and ultimately 25.90Fundamentals backing this trade idea:
- Silver as a seasonsal tendency to rise in the month of February
- Looking at the Commitment Of Traders Reports, large commercial hedgers are decreasing their overall net short positions
Thought process:
Smart Money Concepts begin with adopting the 'Market Efficiency Paradigm' which is the idea that the market is either seeking liquidity or areas of inefficiency at a premium or a discount.
I interpret the price run below 22.51 as smart money buying as a counter-party to traders who had market orders to sell the market at that price point (buying from sellers at a discount)
To then offset some of their positions at 24.40 where there are willing buyers at a premium
Any bearish candle that prints on the DAILY chart is viewed as a buying opportunity. I anticipate 'UP' candles to be broken through with low resistance and 'DOWN' candles to hold as 'support'
Economic Uncertainty and the Allure of Physical Silver
Silver has emerged as a resilient and attractive option for investors seeking refuge from economic uncertainties. As we delve into the intricate analysis of AMEX:SLV stock, it becomes apparent that the interplay between Treasury yields, the U.S. Dollar, and market sentiment is crucial in understanding the trajectory of silver prices.
Treasury Yields and Dollar Dynamics:
At the forefront of silver's market dance is the 10-year U.S. Treasury yield, currently standing at 4.141%. Traditionally, higher yields bolster the U.S. Dollar, making silver more expensive in other currencies. However, recent silver performance has introduced a potential shift in this correlation, challenging conventional wisdom and prompting investors to question the metal's future direction.
Key Questions for Silver Traders:
The upcoming week poses critical questions for silver traders. Will silver's recent divergence from gold persist, or was it merely a momentary event driven by attractively low silver prices? The tone set by the Federal Reserve, particularly if it adopts a hawkish stance, could prove pivotal, potentially causing silver to relinquish its recent gains.
Silver's Response to Economic Data:
Intriguingly, silver has displayed a unique response to last week's economic reports, deviating from the well-trodden path of gold. This nuanced behavior indicates a more complex market sentiment towards silver, emphasizing the need for investors to stay attuned to the metal's independent movements.
Short-Term Outlook and Federal Reserve Impact:
In the short term, traders should brace for potential fluctuations in silver prices. While the market may continue to favor silver, the upcoming Federal Reserve meeting and comments from Fed Chair Jerome Powell will be decisive. A hawkish stance could trigger a sell-off in silver, undoing the gains from the previous week.
Investing in Physical Silver:
Against the backdrop of economic uncertainty, some investors find solace in owning physical silver, be it in the form of coins, bars, or bullion. Despite risks such as theft and storage, the convenience of online purchases from reputable dealers like APMEX or JM Bullion provides a viable option for those seeking tangible investments.
Silver Stock Performance:
With economic uncertainties lingering in 2024, silver prices have climbed back near 2023 highs, currently quoting at $22.90 per ounce, reflecting a 0.12% surge. The interest in silver and precious metals tends to rise in turbulent financial conditions or elevated inflation, prompting investors to evaluate whether current silver price levels present a buying opportunity or are poised for a pullback.
Technical Outlook:
The technical analysis of Silver Trust Ishares reveals positive investor sentiment, with prices reacting positively after breaking an inverse head and shoulders formation. A decisive break above $21.25 will signal further positivity, while a break on the opposite side may be a strong negative signal. The stock has already broken through resistance at $20.50, predicting a potential further rise.
Conclusion:
As investors navigate the complex terrain of silver investments in 2024, the confluence of Treasury yields, the U.S. Dollar dynamics, and Federal Reserve actions will shape the trajectory of silver prices. The metal's unique response to market dynamics and its resilience in the face of economic uncertainties make silver an intriguing option for those looking to diversify portfolios and hedge against inflation risks. However, the cautionary notes on physical silver ownership and the vigilance required in monitoring short-term fluctuations emphasize the need for a well-informed and strategic approach to silver investments in the current financial landscape.
SILVER Trendline Resistance BreakHi Traders!
SILVER has broken its trendline resistance on the 1D chart.
Here are the details:
The market has found support around the 21.874 level, which is a previous swing low. Today's candle has opened above the trendline resistance and is currently on the 20 EMA.
We are looking for a close above the trendline resistance and a momentum push above the 20 EMA. The plan here is to buy market dips near the trendline resistance.
Preferred Direction: Buy
Resistance (FLAG CHANNEL): 23.25
Support (FLAG CHANNEL): 21.874
Technical Indicators: 20 EMA
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Trade safely and responsibly.
BluetonaFX
Upside in Silver is Coming! Long Setup UpdateEarlier, I took an early long position on Silver as we were getting a trendline and 4 hourly resistance breakout.
Long from 22.79 or now.
Target 1 - 23.30 - Set stop loss to break even once T1 has been hit.
Target 2 - 24.05
Target 3 - 24.50
Extreme Target - 25.49
Stop loss - 21.80
Silver at important zone?22.93 seems to be good resistance for silver. This range can be a good zone for next movement of the price. If the resistance is break with closing a day candle then can see positive movement for upcoming days.
Vice versa can also be seen , as it is currently very high resistance zone .
Also ABC pattern is also valid if resistance is break, then can have a big confident trade. Lets see and react.
Inverse Head & Shoulders for Silver in-playThe 4 hourly Silver chart is showing initial signs of a potential inverse head and shoulders pattern. With confirmation of this pattern, I will be looking for a long position at 22.50. My target will be a long position towards the 23.50 resistance and supply zone.
SILVER Neckline BreakHi Traders!
SILVER has broken below the neckline break in its head-and-shoulders pattern, and there is a possibility for a continuation to the downside if the market continues to stay below the neckline.
Here are the details:
After the initial momentum break below the neckline, the market is now retesting the neckline as resistance, and the 20 EMA has lined up perfectly with it.
We are looking for the market to stay below both the neckline and 20 EMA and look for exit targets near the 21.90 level.
Preferred Direction: Sell
Technical Indicators: 20 EMA
Resistance: 23.650
Support: 22.681
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
SILVER.. at most tradeable area 22.01 since 2020 , stay sharp#SILVER... so guys market at his most tradeable area 22.01
you can watch marekt daily and weekly charts 22 figure area is most tradeable in history since 2020 arround..
keep close it because if market hold it then only scnerios is in buying favor otherwise not at all.
focus on that area and manage accordingly guys,
it will play key role again as you ca see in history.
trade wisely
good luck
Silver- 2000 pips drop could followMore often than not, OANDA:XAGUSD provides clearer signals than OANDA:XAUUSD when it comes to technical analysis. In contrast to its bigger brother, Silver exhibited distinct signs of weakness right from the beginning of the year.
This was evident as the price broke below the ascending trend line that had originated in October (In the case of Gold, the price reversed from confluence support).
Reversals from the horizontal 22.70 support in Silver were consistently hindered by the confluence of resistances around 23.50, effectively keeping XAGUSD within a range.
Currently, the price of Silver has returned to the support zone.
Considering the descending triangle and the price being in a downtrend, coupled with its position below significant resistance levels, a break seems highly probable.
In this scenario, a drop to the 20.70 zone is possible, presenting a trading opportunity of 2,000 pips.
SILVER (XAGUSD): Bearish Continuation 🪙
Look how nicely Silver respected a solid horizontal supply area on a 4H.
We see a strong rejection and a formation of a cup & handle pattern.
Odds are high that sellers will push the prices lower now.
Goals: 22.75 / 22.55
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SILVER (XAGUSD) BUYING ON DIPS !!!! TILL 30$ HELLO TRADERS,,,
As i can see this chart is performing a harmonic pattern H & S and a clear view that this pair still in range for a very big incoming move Israeli and GAZA Tensions are escalating more & more Day by Day investors and traders are looking for safe-haven Gold already break 2000 level and looking for making a new all time higher high silver has also performed well on monthly based it had gain 3% .. commodity prices are sky rocketing now we have a great opportunity to enter this trade with a very low risk and a higher reward its just an trade idea not a financial advice whats Ur thoughts on Silver kindly share with us Ur idea in comment box we appropriate Ur love and support it help alot whole traders community here ....
Stay tuned for more updates
📉🌑 Silver's Moon Trip Cancelled: Eyes $22 in Downtrend 🎯🔻💥It is possible that the Silver RSI trend line may be retested, indicating a decrease in momentum from buyers. Consequently, there might be a continuous downtrend leading to a price point of $22. It is advisable to prepare for this ongoing downtrend.
Sellers can still take advantage of the fresh bear trend on the hourly chart, providing opportunities for short sellers to make a profit.
Silver Breakout ?Pair : XAGUSD ( Silver / U.S Dollar )
Description :
Breakout of the Daily Ascending Trend Line and Completed the Retracement. Completed " AB " Corrective Waves in Long Time Frame and " 12 " Impulsive Waves in Short Time Frame. Symmetrical Triangle as an Correction in Short Time Frame with the Breakout of Lower Trend Line
📈💪 Silver Secures Support: Gearing Up for $24.5 Sprint! 🏃♂️It seems that silver has found triple bottom support on the RSI, while DXY is showing signs of a strong bear. This suggests that commodity prices may rise, which in turn could send silver to test $24.5 once again. However, if silver fails to clear this area, it could potentially lead to a permanent collapse of silver prices.
But for now, this chart is bullish. Enjoy the trend!
SELL SILVER FROM RESISTANCE ZONE !!!HELLO TRADERS !!!
As I can see this pair has reached at a strong resistance zone we are expecting a drop from this zone to the draw tps my charts always talk it self see other pairs charts updated so it will help alote to understand markets next move its just an trade idea share ur thoughts with us & stay tuned for more updates