Silverusd
Silver monthly update / buy setupHello traders!
Monthly supply range(blueish) held perfectly well and now we are due for a retest lower.
*16.60$ - was never re-tested after a breakout and now should be a point of interest for investors.
We should see it being re-tested very soon. MACD suggest that there's plenty of momentum left & $16.40 in November - very likely.
Next target is $23 .
*Buy zone $16.40 - $16.60.
*Take profit zone $23.
This is not a financial advise. Have a great day!
$21 / oz silver by mid year 2020This is a real possibility now that the downtrend for the last month or so is about to break. We are also seeing great weakness in the gold/silver ratio which means we should see silver outperform gold in the coming months. Therefore $21/oz is possible should the gold/silver ratio drop to around 70-77 depending on the price of gold. Watch the breakout.
XAG/USD | SILVER Short/SellWe see a typical downtrend-move formed by lower highs and lower lows. For confirmation we have 2 trendlines + fibonacci levels (pervious at 61.8 reversed and now at 38.2) + Doji forming at the current level which indicates weakness by the short-term uptrend so therefore we should see weakness => to the downside.
What do you think? Comments are welcome! :)
SILVERFirst a perfect reaction of the .382 swing high to swing low and now a rejection of the 618. Levels to watch are a possible triangle trendline but buying that trendline would be to risky. Better buy would breakout of the downtrend triangle with a retest. If we get back to the 382 at 17.4 we could either have a V-shape reaction or we could smash through, that would mean short the retest of the 382 with a target at 16.1 the 618 fib.
Silver big move after correction up to 22$Silver in comparison with gold still has it's final word, even if gold will go up, it will not compare with silvers future gains. The structure of silver's pattern since 2011 permits for such a breakout. This will probably be last chance to make significant profit from gold and silver before final consolidation. Also the wave B in depicted ABC structure might last longer, but anyways it does not change the pattern.
SILVER on my custom indicator This is a screenshot of silver using my custom indicator. As you see the indicator paints bull (buy) and sell (bear) signals. Catching the majority of the uptrend and the downtrend to maximize profits.
Silver on supportThe price of Silver (in USD) has left the ascending channel, tested the next fib retracements (one coming from dec 2015 in blue, the other recent from may 2019 in violet). This level has been and is still a strong resistance and we´ll see if the bulls will have enough strength to break through.
After Silver has re-entered the parallel channel and touched the lower limit it turned and is now on the lower side of the positive trend channel.
RSI also has turned and could signify new gains. MACD is in bullish terrain but the trend is negative. One has to take in consideration, that MACD always has a significant delay. I take this indicator only for confirmation.
With Gold (orange line) also regaining force I can imagine that Silver will recover on this level. So the bullish trend isn´t over.
This is no trading advice!!
Silver Fundamental Analysis – September 16th 2019Here are the key factors to keep in mind today for Silver trades:
New Zealand Performance of Services Index: The New Zealand Performance of Services Index for August was reported at 54.6. Forex traders can compare this to the New Zealand Performance of Services Index for July which was reported at 54.8.
UK Rightmove House Prices: UK Rightmove House Prices for September decreased by 0.2% monthly and increased by 0.2% annualized. Forex traders can compare this to UK Rightmove House Prices for August which decreased by 1.0% monthly and which increased by 1.2% annualized.
Chinese Retail Sales: Chinese Retail Sales for August increased by 7.5% annualized. Economists predicted an increase of 7.9% annualized. Forex traders can compare this to Chinese Retail Sales for July which increased by 7.6% annualized.
Chinese Industrial Production: Chinese Industrial Production for August increased by 4.4% annualized. Economists predicted an increase of 5.2% annualized. Forex traders can compare this to Chinese Industrial Production for July which increased by 4.8% annualized.
Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for August increased by 5.5% annualized. Economists predicted an increase of 5.7% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for July which increased by 5.7% annualized.
Chinese Property Investment: Chinese Property Investment for August increased by 10.5% annualized. Forex traders can compare this to Chinese Property Investment for July which increased by 10.6% annualized.
Chinese Surveyed Jobless Rate: The Chinese Surveyed Jobless Rate for August was reported at 5.2%. Forex traders can compare this to the Chinese Surveyed Jobless Rate for July which was reported at 5.3%.
Final Italian CPI: The Final Italian CPI for August increased by 0.4% monthly and 0.4% annualized. Economists predicted an increase of 0.5% and of 0.5%. Forex traders can compare this to the Italian CPI for July which increased by 0.5% monthly and by 0.5% annualized. The Final Italian Harmonized Italian CPI for August was reported flat at 0.0% monthly and increased by 0.5% annualized. Economists predicted a decrease of 1.7% and an increase of 0.5%. Forex traders can compare this to the Italian Harmonized Italian CPI for July which decreased by 1.8% monthly and which increased by 0.5% annualized.
US Empire Manufacturing Index: The US Empire Manufacturing Index for September is predicted at 4.0. Forex traders can compare this to the US Empire Manufacturing Index for August which was reported at 4.8.
Should price action for Silver remain inside the or breakout above the 17.400 to 18.150 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 17.800
Take Profit Zone: 19.600 – 20.000
Stop Loss Level: 17.200
Should price action for Silver breakdown below 17.400 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 17.100
Take Profit Zone: 15.900 – 16.500
Stop Loss Level: 17.400
XAG/USD SHORTING Opportunity?? Price below 21 EMA is considered to be the beginning of a downtrend , also as per the charts price has been rejected after hitting the Resistance
Note:- Do analyze the chart before opening a short position!!!
XAGUSD: Short term buy opportunity. Tight stop.XAGUSD has made contact this week with its 1D Higher Low trend line (bold) where it has so far rebounded, as it made a Higher Low (1D Highs/Lows = 0.0000). With 1D holding marginally onto bullish levels (RSI = 56.268, MACD = 0.403, ADX = 44.272) it is likely to sustain this rise all the way to the 19.650 Resistance, as long as 17.780 holds. On a different occasion we may get a deeper correction on the 1W scale where the RSI is still overbought at 75.529.
You may get an idea of this potential 1W correction here:
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Silver Elliott Wave IdeaAn update to a chart from 12 months ago on Silver >
It could be that a long term correction completed at 13.891$ and now in the early stages of an impulsive move.
Could be in wave 4 now but if price drops below 16.213$ then it would invalidate this theory and could potentially just be another corrective move, meaning a move towards or below recent lows.
SILVER going down?Another massive bear channel on a longer term. We are not in a bull market yet. still looking for another leg down. Too much hype and positive sentiment on Silver and Gold.
Is SILVER run over? It appears that we are still in a massive bear channel and this was a bear market rally. Both TVC:GOLD and TVC:SILVER appear to be overbought. Silver is showing a massive weekly shooting star. Might see another leg up (within the channel)but then a decline to find another bottom. Looks like it got all the FOMOs out there. Unless we break out of this bear channel staying bearish.
SILVER: New bull cycle or just a Lower High? See what to expect.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 price action on the 1W time frame followed by Patter A which shows the price action mostly in the 1980s when Silver was still in the Bear Cycle, making only a Lower High and then Pattern B which shows the late 1990s - early 2000s when Silver broke into its last Bull Cycle.
All charts share some similar sequences: Peak (Lower High) on the Red Arrow Down, followed by a Channel Down (orange shape) and then accumulation after the bottom (eclipse shape). What followed in all charts is a very aggressive (non-stop) bullish 1W candle streak. What separates the patterns though and is the key in determining which phase Silver is currently at is the Golden Cross formation.
On Pattern A it took place after the aggressive rise made a peak (Lower High) and then Silver extended the Bear Cycle.
On Pattern B the Golden Cross took place before the aggressive rise made a peak. Then the price pulled back to the MA50, which held and supported Silver as it started its new Bull Cycle.
We have to say that on these terms, the current price action resembles Pattern A more, as the Golden Cross hasn't taken place yet. However it is not at all impossible to be replicating Pattern B as Silver may continue this parabolic rise so aggressively and make the Golden Cross on much higher levels.
We therefore would suggest investors to take a wait-and-see action and observe how the candle action will affect the MA periods.
* If the price currently pulls back and tests the MA200 then we are most likely still within the Bear Cycle and Silver will extend the downtrend.
* If it rises more and then pulls back to test the MA50 then we will most likely be starting a near Bull Cycle and investors can more safely enter into a long term trade.
We will be analyzing Silver on a more regular short/ medium term basis so stay tuned for more trading set-ups.
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Silver Looks Friggin BullishHello Traders,
There has been a lot of talk about the precious metals recently (Gold / Silver) with many different reasons for the resurgent interest in precious metals ranging from the classic "store of value" to "finite resource" to "growing lack of trust in fiat currencies".
From a Fundamental Analysis point of view I don't really know anything about Silver apart from the basics so if you are reading this and know your stuff about Silver please put it in the comment section.
This chart is from a TA perspective.
Since the beginning of 2002 the price of Silver went on a bull run which peaked in April 2011. That run lasted about 10 years with gains in the region of 1125%. Very nice if you were long on Silver. From an Elliot Wave perspective the price printed a nice set of bullish impulse waves.
Then over the course of the next 4.5 to 5 years the price retraced to the 0.786 Fibonacci level, pretty much to the wick. WickHunter loves it when the market obeys Fibonacci. This entire move looks like a massive Wave 1 and Wave 2 has been completed and price is gearing up for a wave 3.
"If" this is the case and tbh that's exactly what it looks like, then Silver could go to the moon here.
I've used the Fibonacci extension tool on that wave 1/2 and plotted the 1.618, 2.618, 3.618 and 4.236 extensions as targets.
Nobody knows which of the targets will be hit, only time will tell.
WickHunter
Silver Cup and Handle - $90.00 USD Target?Silver has a clear cup and handle formation present (and looking to be resolving) on the monthly chart.
Given the price action in silver recently (check out my earlier analysis which predicted this most recent surge as well as the move up in gold in July) it is worth looking at the longer-term trajectory for silver to determine whether we should be selling, buying or staying on the sidelines.
It is worth noting that pattern analysis is an art, not a science, however it is a fact that the longer the time frame the pattern is observed (e.g. monthly vs. daily patterns) the more validity is tends to have.
The measured move from the base of the cup to the ridge of the cup pattern projects an eventual target of close to $90.00 USD (well north of 300% from present levels)
With this in mind, this pattern will likely resolve over YEARS, not weeks or months, but given the strong tailwind that this could provide for silver and silver associated investments, it is worth considering how you will play (if at all) this market.
Gold/ Silver Ratio - Flashing BUY Silver - 88.48 to 1The current Gold/ Silver ratio is settled at around 88.5 (at press time) this represents a historical outlier and a fantastic opportunity to leverage the movement of silver to great effect.
As you can see the ratio is in a rising wedge, with it set to resolve in the not too distant future, these patterns tend to run quite long before resolving, usually into the climax of the pattern near the point of convergence.
A historic mean of the ratio is around 45 to 1, that would mean a purchase of silver today would equate to purchasing 2x the amount of gold, side note, never measure precious metals (PM) in fiat, always measure in ounces.
This pattern could continue until the point of convergence, this would suggest a ratio closer to 100 to 1, however, it is best to enter a PM position in tranches, as it limits the reliance on market timing.
Nevertheless, this ratio currents represents a tremendous buying opportunity, one that you would be smart to take full advantage of.
Silver Elliott Wave IdeaSilver looks close to completing a multi-year correction in WXYXZ form.
If you apply the guideline that Y should be equal or longer than X2 then 13.646 could be a nice buy; it has already touched the .618 extension of A of Y but may go deeper still >
Silver's possible trend in next 3 yearsRight now we're at the handle of the Cup structure, if silver price can up to $54 in next 12 month ,it will successfully break up the upper trend line of the Cup structure, we will have a big chance to see the silver touching $96 around April 2022.
Good Luck.
