SLV Monthly ChartStill monitoring the money flow index. Its at the same critical area during 2010 breakout
Silvercharts
Close Watch on Silver 16.42Silver currently trading near the level of 16.25, If Silver holds above the level of 16.42 which is the 100 days MA we short for a short term upsurge very quick to the level of 20.70. Currently facing the resistance zone of 16.42. Any close above it shall see a rocket to the above said levels.
LONG or SHORT SILVERI am very BULLISH SILVER but that doesn't mean its not worth shorting if the technicals are favourable.
My preference is to get LONG above 15.87 but if price falls below 15.69 then I'll look to SHORT down to 15.52 (200 sma on H1) or lower.
SLV daily; Silver breaking up??Watching silver closely. Futures up today so far. Will see if it can top recent high in the next few days.
SLV 1x, USLV 3x etf.
Silver/US Dollar: 2 Bearish Gartley Paterns2 Potential gartley patterns setting up on Silver/U.S. Dollar
Goldie took us out!We were stopped out of our last contract in GC. We will keep a close eye on Goldie. We still like the upside. Stay tuned
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Silver with a bull start of 2015Silver(07.01.2015) remain very quite for more than 2 months & traded in range. However this range bound trading came with some surprising moves which plotting the future movement story most probably.
Fundamental remains very weak for silver from last few months, gold with bad performance in 2014 kept pressure on silver as well as slowdown in leading manufacturing economy china slashes silver demand as industrial metal. With a positive start of 2015 from gold & a major expectation of QE from china , japan & europe together could provide a supportive ambiance for this metal.
Coming to the technical picture, Silver trading at $16.35 while i am writing this & as we can see on chart in December 2014 silver made a low around $14 mark & bounce same day with some extra volume. This move almost tested the 261.8% fibonacci retracement level of last upside move. This move also provided a strong positive divergence on charts as well as a falling volume under consolidation period suggest absence of sellers on current level. Thus a combination of bounce from lower trendline of long term descending channel & a most possible inside bullish channel hinting for a recovery ahead. Area around $17.70 & then $18.70 could be targeted in coming trading session.
SILVER MCX has same story like comex silver still on mcx charts, silver looks more comfortable , probably due to INR movement. A strong black cloud cover candle with great volume & follow up by a consolidation period with thin volume. RSI generating a positive divergence . Silver also broken above a descending trendline & currently following a minor upside channel. This technical setup suggest for a bounce ahead to retest the previous high around 39000 & then may be 41000 in coming trading session.
At the end time will tell us the true story.
Best of luck.
Note - Above technical analysis is not a buy/sell recommendation. For recommendations Contact Us
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