Silver at it's trendlineobjective long here with a tighter stop. If this trendline breaks silver will fall quite fast
SLV
SILVER EXPLOSION !! I've had an affinity to silver for many years.
For last batch of years, I've been watching and waiting for any real sustained interest in it wanting to stay above $17.12 on the SLV chart...
This last thrust is convincing. I marked a zone of $17.12 - $17.80 for great time to load up for what could be the biggest SILVER EXPLOSION in our lifetime.
Many factors here, but I'll point out the double bottom on monthly chart, with MACD divergence.
We saw volume really pick up in 2019.
Also, the RSI is at resistance, which once broken can see swift massive gains.
As you can see from the indicators during the last bubble, the bulk of the silver move happened when they were overbought.
Lastly, trading altcoins has been and will be a nice prep to navigate this SILVER EXPLOSION.
Ill add a few more supporting charts soon, like the rising wedge in the gold/silver ratio, and the bullish possibility in gold too.
Much like bitcoin, don't lose your position in the shakeouts along the way, just to buy back in FOMO areas.
UIOGD - JMJ
Travis
Silver to $21 on April? Begin wave 3 of 5?Silver has been regaining strong momentum
I attempted to label the waves as best as I could
Estimating we are in wave 3 of 5.
On the Daily chart:
Momentum pushing above Keltner Channels
10/20 EMA cross
Positive PSAR
RSI has crossed above 60
Using Fibonacci extension tool on wave 5
Pulling from Dec 7th as the start of wave 1
to $18.80 end of wave 1 and then pulled to $17.45 as end of wave 2
I am estimating a target at $21.20 at the 161.8% extension
Not shown but I might try to later but I am experimenting with
Fib Time Extensions and Fib Channels giving me a date target of April 15th
From $21.20 I think wave 4 will retrace 38.2% to $19.60 in a ranging behavior
SILVER EXPLOSTION !! Gold / Silver ratioSupporting the SILVER EXPLOSION idea... here is the rising wedge on the Gold / Silver ratio chart.
Below is an example of a rising wedge from the BCH/USD chart that recently played out to give you an idea of how these can move.
Looking at the SILVER EXPLOSION chart, and using this as supporting evidence, only adds to the probability of much gains.
Silver looking to break above 18.90 for a run to 19.75I'm watching #silver closely here for a break above $18.90. That break of horizontal resistance should precipitate a swift move to 19.75 before higher. $SLV $SIL $SI_F
GOLD - Ready to Attack ATHGold has repeatedly formed and broken out of bullish patterns for most of last year and all of this year. The most recent pattern being a bullish pennant that broke out with further aggressive buying. This market is primed to attack all time highs and could very well cut through on it's way to $2000+. As for now, the next major overhead resistance is just below 1,800.
SLV - Fib Target ProjectionsReviewing Fib ratios shows expectations for coming moves. SLV retraced it's last up move right to the 50% level. Having found support here, one would expect it to rally to the -.23 fib at 17.63. If SLV corrects 50% from there, it can be expected to fall to 16.97. Support there would indicate another move to the -.23 fib at 17.94. Beyond these targets, there is nothing constraining price to stop at these levels. Price can continue beyond depending on strength/weakness. With the added interest rising up in the precious metals sector, the likelihood of prices reacting to Fibonacci levels increases as many computer algos use them for action points.
SLV Must Take Out 19.69While reaching above 19 would be quite an accomplishment for us long-suffering Silver fans, breaking above that last peak would confirm the double bottom forming, predicting much higher prices.
Does appear that we are starting the long awaited fifth wave of this move. In commodities, the fifth wave is often the longest.
Gold is still leading though. Silver somehow needs to find it's own legs and knock that goldsilver ratio back down to realistic levels.
Nice breakout for GOLD again and SILVER is also looking good
Gold broke out again and i also like the chart formation what silver SLV is forming it's looking like a reversed Head & Shoulder.
$XAGUSD $SLV #Silver repeating 2016Silver is a strange one, the chart looks like a volatility chart, ie sudden spikes up, which then slowly fade (unlike stocks which do the reverse).
The last cycle from Jun 16 to Jun 18 was a classic bearish descending triangle. Price action from summer 2019 looks remarkably similar to May 2016 onwards, we are now at Nov 2016, which means this is just the place to short for a 6.7:1 trade.
SELL 18.00 (MARKET), SL 18.50, TP 14.65, RR 6.7
Gold coiling for move higher#Gold still looks strong to me. Price remains in early stages of 5th wave higher. Rising channel from the Aug '18 low remains in tact. Key levels I'm watching are 1540 to downside, which would test rising support & 1590 to upside. Break should kickstart next leg higher $GLD $GDX
How do we rise silver prices?Silver's got to get back in the game soon.
Looks like we're holding in a decent area of support within the triangle consolidation from the last run up.
I'm slightly bullish, but I would like to see silver reclaim that $18 zone to get feeling even more bullish.
Bullish LongtermSilver is having a hard time with all the decent earnings reports and greed overwhelming wall street.
Longterm however, silver is posed to outperform, and continue performing.
Gotta find me some miners with good dividends.
Suggestions appreciated. :)
I'm BullishSilver held important levels back in November-December of last year.
Since then I count a pretty solid 5 wave move up into the new year and believe we are setting up for the next upwave.
As always let me know what you all think, but I'm looking for silver to go above $20 by the summer.
SILVER - Bullish Patterns Abound on Weekly ChartSilver's weekly candle charts have now thrown 3 bullish candlestick patterns in a row with a triple pin bar setup, and the final pin bar also acting as a bullish engulfing bar. This setup is offering an attractive risk:reward for a bullish upside breakout.
Silver coming into support zoneThe 17.45 area in #Silver has been a key area of support/resistance since early 2018. Price is now approaching falling support of the bull flag that started in early Jan. Price should find support here. If this area doesn't hold it could be a quick drop to ~16.90. $SLV $SIL $SI_F
Silver looking like a downside move incoming SHORT SILVERIt looks like Silver has switched to a sell a few days ago and we really haven't seen much downside action since. However, the price support line looks like it's going to be violate with the RSI losing 50 and turning into resistance. GL
SLV - Progress ReportSLV has completed a five wave up move. As my overall price objective for the main move is at least 19.58, it's my assumption that this was just a larger wave 1. A wave 2 may have already completed with a .382% retracement. There do appear to be 3 waves signifying a corrective wave. Or a larger A-B-C correction might take price down to the 50% fib level of 16.33.
I had previously bought Jan 2020 15-17 call spreads and on the rally, sold off the 15 calls, leaving me short the 17s. One more week is left until January expiration. These short calls closed at 0.13 indicating that the market expects SLV to rise to 17.13 next week.
Strong relationships have been noted with stocks rallying and silver and bonds falling, and vice versa. Could be that stocks have completed a major five wave move up and may begin a corrective wave. IF the correlations continue to hold, one can expect strength in precious metals and bonds.
Gold Getting OverboughtRe: moves in #gold & #silver. Faded both & closed my futures positions overnight. Prices need to cool off. Gold way overbought (good LT, not ST) & daily candle forming shooting star. RR here not good. Looking for a reentry ~50% retracement from breakout @ ~1530. $GLD $SLV $GDX
Very bullish price action on this uranium stockThis stock is testing a 3 year trend line on the weekly time frame while building a strong 12 month base at the .15 cent level. That is bullish. Some may argue it has already broken out, but from my vantage point, it will sometime in the next week or two.
