Vox Royalty trading higherVox Royalty has traded high again as the precious metals all find firmer footing post the FOMC meeting.
In a recent interview, Vox said that they have exposure to 35 million ounces of gold and equivalents in the ground, which means they have the potential to reap revenues out of a pot as big as $63billion 🤯
Last week ended well for Vox Royalty Corp as they broke out of an accumulation range clearing resistance at the C$3.00 price level. Since the fateful date of June 16th which saw the US dollar rise and GDX collapse further, Vox’s stock has risen with dips to C$2.50 being bought up. This rising chart pattern of higher swing highs and higher swing lows bodes well for the company as the volume point of control for 2021 and VWAP are now offering a good base for support. For the longs who bought into the stock in January and March, they are being rewarded for their patience and they can take comfort that speculators who shorted the 2021 highs will now be covering, or risk being stopped out. These actions will likely accelerate, as investors welcome a return towards the initial offering price which could then lead to a test of the year's highs.
SLV
Silver on the brinkXAG Silver has crossed my breakdown trigger fib fan line and rebounded sharply. I'm going to be watching to see if it closes above the breakout line with a downside fake-out, or if it will close below that breakdown line.
Long | SLV | SWING TradeAMEX:SLV
Possible Scenario: LONG
Evidence: Price Action, Inverted hammer candlestick, money-flow
TP1: 22.5$
TP1: 23$
when Silver going to spike, it's a strong signal of bearish market, so I expect downtrend on SPY and QQQ
Call options 17th Sep, Strike 24$
*This is my idea and could be wrong 100%.
Silver decline done yet?too early to tell if silver is done declining, but there are optimistic signs. Volume and indicators are turning positive. DXY dollar saw some selling. Gold and Oil have been strong this week.
Perfect Head and Shoulders?Seems like SLV may be bearish and this looks like a perfect entry at the retest of the neckline. Thoughts?
Silver analysis Elliot wave count short term Traders,
I expect prices to push lower below $22 in the next few days. We are currently working wave 4 (Triangle pattern) I will enter short once price breaks below BD line, I expect some volatility on silver and Gold as well
Please like and share your analysis
good luck
COPX - bully bounce timeCOPX took another hit today and lost +4% which is a little surprising considering Max Pain this Friday is $37... maximum-pain.com
Expecting a turn soon. Probably starting next week after some more pain and fear...
Indicators appear to be looking for a turn on the daily, and Volume is drying up on this leg down.
Potential selling climax on July 19th.
Bollinger' Band width can go lower but not much IMO before a turn.
New high isn't likely given the drop out of the longer term regression channel.
Tradable bounce - lasting ~30 days...maybe less on deck for COPX.
Maybe another 3% to 4% down. Falling knifes and all... buy the fear.
Bounce Target = $40.xx See Chart
Not financial advice.
SLV1. R1 $21.90, R2 $22.50
2. S1 $20.85, S2 $19.50
SLV has accelerated its fall from $23.00 and the price is trying to break back above $22.00. Given the current overall market condition with SLV on a correction trend, for warriors wanting to catch the bounce, can enter at $20.90 with a take-profit target of $21.90, stop loss at $19.95 (a must have to DT). For conservative traders is advised to stay on the side-line to see if $19.50 can provide a good strong support for long-term entry.
Silver is a major short term level inside a rangeThere's been some divergence in the miners for the first time since silver broke down from 28 as we're trading at the 618 range low - high.
Notice the demand and supply at this level since Q4 last year - a lot going on here.
Zooming in on the 4hr:
For short term traders this is a decent long spot. The 200dma is 26 - so it would need to reclaim that for a more significant move higher.
Silver Ascending TriangleSilver is forming a 12 month Ascending Triangle Pattern, a break above resistance will signify more upside.
"the silver lining"silver is poised for a major run into next year
i'm thinking to $100
but not before this final trap.
swinging silver to around $30 is my plan,
shorting it once it hits $31.
this last liquidity hunt from $31~>$20 should be the last one before our run of the decade.
in confluence with my btc idea as well.
who ever is behind these moves is a total mastermind, hats off to you.
💸
SILVER triangle breakoutJust buying Silver @ 24.86, as it already broke the triangle (yellow) and pulled back to the range high BUY (which often acts as strong support). The grey trendline could act as a magnet attracting the price. For me it's good opportunity to get in with favourable risk reward ratio.
RRR 5.55
TP @ 31.9 which is resistance slightly below the projection of triangle height (projected from range mid-point)
SL @ range low
SLV - Triangle Corrective WAVEMy count has a bullish ABCDE Triangle Corrective Wave unfolding for SLV., and if confirmed it will likely continue "sideways" for a bit longer.
See chart for general price and wave predictions. Waiting for confirmation that Wave C is done.
Indicators looking like a turn up is in the cards but volume isn't confirming IMO. However I wonder how/if retail interest in physical silver may be skewing this metric.
If the C wave continues down a little then reverses - still bullish for SLV longer term and potentially a bullish ABC correction. If Wave C down breaks below $21.xx will revaluate bull case.
Note: $COPX has been turning up here as well. Bullish!
No active trades = Neutral
Not financial advice.
Silver: Good time for another move up.Good day. For those who follow me remember I took some profits in silver at "d" The price is now at a good point for "e" if this is a contracting triangle as it appears to be. Watch closely for price action soon that suggests a reversal.
As always process your way.
SLV vs SPY Silver vs SPYTo me, it looks like a swing failure low. As long as it holds above that previous low, could be bullish for silver.
#HEX launch phase engaged, another 10% outperformance vs #BTC on the cards.
HEX token is likely to show considerable outperformance against the rest of the #crypto market
due to the launch of #pulsechain likey in August
and a sacrifice phase to last 17 days... possibly starting this week.
SLV LongSimilar situation as with GLD, silver is still accumulating and might go a little deeper. Good for holding long-term.
90% BUY / 100% HOLD
Estimated PO $45
Hex is about to break out into the teens - shortly.The charts look great against #USD
but also against #eth #btc #ltc and #doge
GDXJ Arc indicates low risk entry with 250% upside The fun side of the arc in the junior miners is currently playing out. At the moment, we reside at the edge of the arc, which presents a very low risk high reward entry. Completion of the arc would indicate a gain of around 250% + overshoot, in an 18 months timeframe.
Dollar, Gold and the Euro - where to next?
I just read an idea posted in Tradingview that this is the time to buy the EURO.
As well there is a lot of chatter about Gold being a gift at these levels.
This big move started this week. I believe its too soon to take a position in either one of them. This is not to say there won't be backtests as investors rush in. Looking at these daily charts gives you the perspective to see what's really going on.
So to be clear - the value of the US dollar (DXY) affects the EURO and GOLD - as the both are based on the relative strength of the DXY.
This move isn't over - clearly the breakout is happening fast, it maybe over this upcoming week. However, that does not mean it return immediately to previous levels. Expect some accumulation and distribution.
A higher US Dollar slows down: inflation, and debt ridden non-US companies with US Dollar denominated debt, who now have larger financial obligations.
One thing that is VERY interesting is clear that all three, DXY, GOLD, and the EURO are balancing inside their respective triangles, for a much bigger move. If you have the answer to that - its worth a fortune.
Why is this happening? The Federal Reserve has now signaled that there are at least two rate hikes forthcoming. While in Europe there is none of this talk, ergo higher rates - stronger currency.
Last year there were numerous well respected pundits claiming the dollar was about to soar (such as Keith McCullough of Hedgeye and Raoul Pal of Real Vision fame) Pal wrote on Twitter April 25th, 2020: 'You see the biggest problem the world faces is the dollar. We are in a viscous doom loop where slowing growth causes the dollar to rise' I can't believe he hasn't deleted this tweet.
When in fact the absolute opposite happened. So tune out the noise and watch the charts for the 'Real Vision' ;)
Expect the US Dollar to push through the what is an obvious trend line and bend it not break it approaching the round psychological number of 93. This is also close to 1.61 Fib at the top of the channel. The yellow triangle is where you might consider taking a long position in either the metals or pairs that verses the US dollar.
Levels are indentified where both GOLD and the EURO may fall to.
As a side note, the US Equites have rallied in part because of weakness in the US Dollar, which rallied at every drop in the dollar - they may have some catch up to do as the dollar is rising faster than SPX or NDX is dropping although the Russell and DOW seemed to be paying attention.
Silver time to buySilver tested its long term up trend yesterday and bounced off of it. THese are great price levels for long term buyers
