Get started

SLV

$SLV Inverse Head & Shoulders Pattern ### Technical Analysis Overview: Silver SLV ETF - Inverse Head and Shoulders Pattern Investors and traders focusing on technical analysis are currently observing a significant development in the Silver SLV ETF stock chart. The chart exhibits an inverse head and shoulders pattern, a formation that is often indicative of a potential bullish reversal in the market. #### Understanding the Inverse Head and Shoulders Pattern The inverse head and shoulders pattern is recognized as a reliable reversal pattern in technical analysis, typically occurring at the end of a downtrend. The pattern comprises three troughs: 1. **The Left Shoulder**: The first trough, representing an initial low point. 2. **The Head**: A deeper low, forming the middle trough. 3. **The Right Shoulder**: A subsequent shallower low, forming the final trough. This formation is considered 'inverse' because it is the opposite of the traditional head and shoulders pattern, which is typically seen at the end of an uptrend. #### Implications for the Silver SLV ETF In the case of the Silver SLV ETF, the completion of this inverse head and shoulders pattern suggests a possible change in the overall trend from bearish to bullish. The key moment in confirming this pattern is a break above the trend line that connects the highs of the formation - often referred to as the 'neckline'. #### Critical Observations for Confirmation - **Break above the Neckline**: For the pattern to be confirmed, the price of the Silver SLV ETF needs to break above the down-sloping trend line connecting the peaks of the pattern. This breakout is typically accompanied by an increase in trading volume, lending further credibility to the pattern's validity. - **Sustained Momentum Post-Breakout**: After the breakout, it is crucial to observe whether the price can maintain its upward momentum or if it reverts below the neckline, which could invalidate the bullish signal. - **Target Projections**: Upon confirmation, the inverse head and shoulders pattern allows for price target projections. The height of the head from the neckline can be applied above the neckline to estimate a potential upward move. #### Considerations for Investors For investors and traders who rely on technical analysis, the inverse head and shoulders pattern on the Silver SLV ETF chart provides a framework for making decisions. A confirmed breakout above the neckline could be interpreted as a buying signal, while caution is advised if the pattern fails to confirm. It's important to note that while technical patterns like the inverse head and shoulders can provide insights, they should be considered alongside other technical indicators and market fundamentals to form a comprehensive investment strategy.
AMEX:SLVLong
by AlgoTradeAlert
Gold - Fade a The Short Squeeze RallyThe marketing team behind gold and silver are always telling dumb and dead money that they should "hedge" against a "collapsing US Petrodollar" during times of global instability by being long on metals. The trade rarely works out. Gold and silver not only routinely follow the equities markets straight to Hell, but tend to get dumped during the start of new index impulse swings. This rally while the SPX gave up its 5% rally is actually a significant anomaly. But if the propaganda never, ever worked out, the propaganda would stop working and the marketing team would be out of a job. And that more or less sums up a 10% monthly rally on gold that's killed short sellers who wanted to comfortably ride a trend down. You can see on the monthly that this price action is just more ranging, more wick plays, and there's a notable unbalanced gap under $1,800. It's really important to keep a cool head as a goldbug, especially under the condition where the establishment media is reporting that Xi Jinping and the Chinese Communist Party is long several hundred tonnes worth of gold. The CCP is collapsing and everything that is going on in the world has to do with the various members of the CCP around the world, who are not of the Chinese race, scrambling to bury their skeletons while also trying to ensure they can take control of the country when the regime falls. And because of that, there's no reason to believe that a CCP that is desperately selling US Treasuries (see: Santiago Capital) for USD is going to be allowed to go plussy plus greeny green on its deeply deep goldy gold position. What hangs over the head of everyone on this planet is the Party's 24-year persecution of Falun Dafa's 100 million students and Disciples, a sin committed by former Chairman Jiang Zemin on July 20, 1999, that has even had the audacity to commit the unprecedented crime of live organ harvesting. Keep your distance from and wash your hands from anything related to the CCP, including the western factions that have become a particle of the Party swearing Marxist vows in Shanghai. So, here's the trade. Doesn't matter if gold takes $2,015. It's not the right overall timing for a new rally to $2,200. Instead, either go short, or wait for gold to trade under $1,800 again. There's no reason to believe gold is a new bull market until longs have been ruthlessly violated. There's no reason to believe metals are going to rally as a hedge during an international war or a major equity sell off, or a major equity rally lol.
COMEX:GC1!Short
by LordWrymouth
7
Bitcoin, GOLD, and SLV Rose Sharply From Israel-Hamas WarCommodities and Bitcoin experienced significant increases in value around October 7, which is the date that the Israel-Hamas War started. Commodities and Bitcoin experienced significant increases in value around October 7, which is the date that the Israel-Hamas War started. SLV had a bullish bounce off the yellow trend line on Friday October 6 (marked by the orange circle). The Israel-Hamas conflict started on Saturday, and on Monday SLV started its uptrend. Key Price Levels: The light blue trend line is acting as short-term resistance that is suppressing SLV's price, but the longer term target is the red trend line if SLV can continue to climb higher. The yellow trend line is a key support level to monitor for a bounce if SLV drops back down.
AMEX:SLV
by realchartchamp
Will silver shine again? As in gold, possibility for a new bull market in SLV is in the cards for coming 2024. The price structure* on weekly time-frame suggests there is a high chance that SLV, has found its bottom last year in Sep'22 and with higher low this year in Oct'23. As long as Oct low holds, I would expect the price to move toward next resistance zones: first 22 and later important 24-25 zone. Afterwards, if price builds a handle and breaks-out above 24 that would confirm the move to 27-30-32 resistance area. Overall, traditional fear-type assets look mid to long-term bullish to my eyes in coming months and years. Trading thesis : I need the price to confidently move above 50D MA, and create at least short base with several days/a week of consolidation around previous basing attempts (most recent being around 21) with later break-out above this pivot to consider longs. * Important caveat to EW: I use it solely to have a subjective idea about sentiment and overall structural context to support, but not guide, my investing decisions. Price and volume is the key, and only price pays, not the fibonacci resistance or any wave count.
AMEX:SLVLong
by artemfedorov
War news pushes gold up 1%war new pushed gold futures up 1% pre market, vix was up almost 10% at one point we retraced down to the .50 fib level, which was 1836. Now, going back up we can test the 1882 .618 fib level. This war has been going on for decades and was temporary to the markets, as spy has almost fully recovered now. The ongoing conflict in middle east should keep gold, oil and nat gas in bullish trend. There are FOMC speakers this week as well, which will affect interest rates and DXY. Cheers!
COMEX:GC1!Long
by hockeysniper
$SLV Ascending Triangle Chart PatternsAMEX:SLV Bullish Ascending Triangle Chart Pattern. A "bullish triangle pattern" is a continuation pattern commonly observed in technical analysis. It is formed by converging trend lines that connect a series of higher lows and relatively equal highs. This pattern indicates a temporary consolidation phase within an ongoing uptrend, often followed by a resumption of the upward movement. Here's how it works: 1. **Construction:** A bullish triangle pattern is created by drawing a trend line connecting higher lows and a horizontal resistance line connecting relatively equal highs. 2. **Converging Trend Lines:** As time progresses, the price movements within the triangle become confined within the converging trend lines, forming a contracting triangular shape. 3. **Decreasing Volatility:** The range between the higher lows and lower highs gradually narrows, indicating decreasing volatility and potential indecision among traders. 4. **Bullish Bias:** The bullish nature of this pattern is due to the formation occurring within an established uptrend. It suggests that despite the consolidation, buyers are still active, preventing a significant downward movement. 5. **Breakout:** Eventually, the price will reach the apex of the triangle, where the trend lines intersect. A breakout occurs when the price moves decisively above the horizontal resistance line, confirming the pattern. 6. **Target:** The breakout is usually accompanied by an increase in trading volume, signifying renewed interest. Traders often use the height of the triangle at its widest point as a guide to estimate the potential price move after the breakout. It's important to note that while bullish triangle patterns can provide insights into potential price movements, they are not guaranteed to result in a specific outcome. False breakouts can occur, where the price initially moves beyond the resistance line but then reverses back into the triangle. To minimize risks, traders often wait for a confirmed breakout, consider using other technical indicators for confirmation, and implement proper risk management strategies.
AMEX:SLVLong
by AlgoTradeAlert
Silver - 33 Moons [And An Options Opportunity](Using 3-Day candles for visibility only. Consult weekly/daily yourself) I have an open call on Gold in that I believe a new high will be set, but it won't actually be bullish, because metals are going to dump pretty hard in the future and try to make retail sell their bullion. Gold - When A New ATH Prints, Will You Get Trapped? I hadn't paid a lot of attention to Silver and was on the sidelines until it dumped 10 percent this week, and now I believe there is a crazy good opportunity. The problem with Gold is that the Chinese Communist Party bought a lot of it and they're going to get margin called or are the ones actually short selling. The problem with silver is that there's not a lot of it left and it's really needed for technology. When smart money wants to buy they accumulate at low prices and distribute at high prices. Often times what precedes the biggest moves are smaller moves that serve the purpose of wiping out and shaking out early short sellers and trapping retail traders who just love to buy high and sell low. There's a lot of geopolitical risk in the world right now, as you can tell from the weekend "Prigozhin Coup," which I cover the implications of for the US Dollar here. DXY - The US Petrdollar And The "Prigozhin Coup" In Russia But the biggest geopolitical risk is what happens if Xi Jinping gets up one morning and dumps the CCP. Nobody believes this can happen and nobody is prepared for it. But when it happens, it will implicate the whole world for both Xi and China to survive, they will have to weaponize the persecution of the 100 million practitioners of Falun Gong committed by the Jiang Zemin faction starting in 1999. Since much of the world's financial sector and governments have dirtied themselves with Jiang in the persecution, when that day comes, it will mean that everything, everywhere is limit down. The liquidity will be gone, the algos will be off. Markets will no longer be made. It is what it is. In the meantime, nothing about what's going on with silver is bearish. Prices are low and it makes you want to sell, but it's actually a situation where you want to go long. I believe that $21.20~ or $20.80 is what it's aiming for, and afterwards, the target will be at least $29. So, what about options? One of the ways you can trade this move is calls on the SLV BlackRock ETF. Getting in at $19~ and seeing a $10 move would push the ETF to at least $30. There are two things that are significant about this: 1. Jan '24 at the money calls (based on the price right now) are $2.21 2. Average Implied volatility is only 24% and the 52W week low is 23.6% and the 52W high is 36%. What this means is that calls are cheap and if iVol were to expand on a bull run from say 26% to 40% you'd pick up an extra ~$1 per contract on top of the strike gains. The AGQ 2x Bull ETF has even more potential upside but it's a lot more risk and the swings are a lot more dramatic, for really obvious reasons. All of this also means you can speculate in mining ETFs and individual miners. You need to use the underlying commodities as your metronome, though. But this also means you'd have to be able to hold a winning position for 3 or 6 months. You'd want to take profits at $27 and $29. But if you get ahead of yourself and buy the $30+ high thinking that $50 and $100 and $500 are coming, you're likely to get seriously hurt. Something is going to happen in this world between now and Q1 2024 and it's not going to be good news for the people lost in delusion wanting to have happy days and be a big baller. Be careful, and happy trading.
COMEX:SI1!
by LordWrymouth
Soft (Metals) Landing: Silver Likely Has More Room to FallSilver has been trading inside of a falling wedge since April 2022, battered by an increasingly-hawkish fed. Despite a formidable collapse in the biggest inflation driver, oil, CPI and PPI reports are shaping up to be a continuation of the trend; worsening inflation. With any weakness in oil likely to be temporary given our macro environment, it's easy to speculate that inflation-related surprises will likely be to the upside, adding even more pressure to a committed fed. Because of this, I'm expecting the downtrend in metals to remain intact as we march towards future FOMC rate decisions. Inflation and unemployment currently stand to embolden the fed to raise on the high end of projections until there is a meaningful downtick in inflation, or a material disaster economically. The latter of which can be devastating for silver, given its industrial role. Lastly, specifically for silver, there are also gaps ahead of us that will likely want closed. Gaps are outlined on this chart going back to 2020 bottoms, and FOMC meeting dates are represented by vertical lines. My suspicions/beliefs/biases: Silver is setting up one of the best buying opportunities in recent memory, and market forces will continue to drive deep value deeper for some time. When the trend reverses, it will reverse for decades, and maybe longer. Renewable energy sector, capital preservation strategies, fiat collapse, and relative value against literally everything will eventually snap silver's 11 year losing streak. There will be another touch on the bottom trendline of the falling wedge, likely at or near the September FOMC meeting. Silver should not break out of the wedge to the downside, but if it does, moves to gap lines will be violent. We are almost certain to test gap line 1, and it is fairly likely that we will test gap line 2. Once gap lines take support away from the descending wedge bottom line, reversal has likely begun. Very unlikely that silver goes far beneath $14.70/oz. Closing gap 2 would almost certainly mark the end of a front-loaded rate hike cycle, and almost lend itself to capitulatory selling-off, marking what I see to be a likely bottom moving forward. Beneath gap 2, something terrible has probably happened, hug your loved ones and pray. TLDR; Short/medium term bearish while the wedge is intact, eternally bullish the moment a breakout to the upside or a fed pivot occurs.
TVC:SILVER
by ChadBangs
5
AGQ- A Silver on steroids ETF LONGAGQ a leveraged ETF of silver and its futures, spent mid-March to mid-April on a great uptrend from which it pivoted down in a 50% Fib. retracement which took two months to complete. After a bit of consolidation and sideways channeling, it has finally launched into bullish continuation as shown on the daily chart. The Lorentzian AI machine learning indicator printed a buy signal today as it reacted to a green engulfing candle crossing the mean VWAP anchored from the pivot low of mid-March. This indicator has extreme accuracy in its signals as demonstrated on its tables. On the MTF RSI indicator, the low TF RSI has been riding above the higher and crossed the 50 level one week ago. The zero-lag MACD is confirmatory. Overall AGQ is ready for a swing long trade which I will take. I will zoom into a 30-60 minute time frame and look for a pivot low from which to enter. My target is the line showing two standard deviations above the anchored mean VWAP presently about 36.3 representing at least 20% potential upside and profit. The stop loss will be narrow with the price presently at the mean VWAP and POC line of the visible range volume profile I will set it at 29.85. ( The risk to reward is approximately 1:40 ) DYODD !
AMEX:AGQLong
by AwesomeAvani
2
#GOLD Update In the previous week's update, I highlighted enough certainty to go long because of the ending diagonal (C) of in the chart below. We spent the entire week creating the opening move, which I've labelled wave A or (1) below. There is no preferred structure at this moment, and the complexity of the scenarios should remain on the chart. However, I can somewhat discount the larger running triangle labelled in black circles ABCDE. Given that wave is a clear (W)(X)(Y), and wave is nearly 2x of , the running triangle is less likely but not ruled out.
OANDA:XAUUSD
by Fomenka
Gold - When A New ATH Prints, Will You Get Trapped?It's not that I am fundamentally bearish on gold. Actually, I am fundamentally bullish on gold. But it's because I think the fundamentals of gold are bullish that this commodity is not bound to pump while the MMs have tipped their hands that they're going to sell Artificial Intelligence and Chinese Communist Party garbage to a willing horde of retail zombies and dead money hedge funds. And so if gold is really to return to relatively significant lows, like say $1,500, the purpose would be accumulation for $2,500 and $3,000. And if that's to happen, with the way the last three months of price action has been, the gold MM, which is really quite a shark, is extremely unlikely to allow the funds and retail cowboys who have been short under the triple top ATH at $2,089 to enjoy the ride down with them This monthly is too obvious that new lows aren't going to come before the highs are purged: And the weekly shows that the $1,936 dump rebalanced the gap created by the big March candle. A significant calculation in the markets is rumors that came out on Friday that the CCP would be pumping some QE to save its crashing markets. This news came on the back of names as big as Elon Musk, Jamie Dimon, Henry Kissinger, and Condoleezza Rice either traveling to the mainland for the first time in years or attending virtually, along with the Starbucks and Pfizer CEOs. So what's going on, if you ask me, is that the Party has once again been given a blood transfusion, and that blood transfusion may be in exchange for that gold it spent the last several months buying. This would naturally mean that gold would pump so it can be sold at high prices and bought back even lower, with the dual purpose being that it would cripple the CCP's gold reserves, which are loaned on leverage. Whenever you hear someone barking about how strong the CCP is, or worse, if they conflate "China" to "the Chinese Communist Party," you need to take a step back and ask yourself how a country whose lost tens or hundreds of millions of people to a pandemic it's still doing everything it can to cover up could possibly be strong. It's not that the CCP is going to invade Taiwan. It's that NATO and the other global factions are thinking about how they can take over Beijing via Taiwan when the Party falls in the imminent future. The persecution of Falun Gong by the Jiang Faction and the Communist Party itself in 1999 wasn't and isn't Xi Jinping's fault, but as the Party Chairman, his head hangs in the noose for this crime, a weakness that anyone can exploit at any time to get rid of Xi and the Party at the same time. But the problem is that a lot of the western world and Europe and other countries have participated in the persecution, which has targeted 100 million spiritual practitioners and gone so far as to commit the sin of live organ harvesting. And so this means that the situation in China is Mutually Assured Destruction, a real Game of Thrones, and ultimately the Heavens are playing them all for a fool together. So, here's the trade: Expect the $1,936 pivot to hold. (But $1,920 will also work) Buy really here or anywhere under $1,950. Be patient and don't get scared Sell $2,150 Collect 7-12% Buy wine and whiskey and treat your friends Now the kicker is that shorting gold at $2,150-2,170 will be a really good trade, but for the bear case to really apply you want to see a liquidity purge and distribution, rather than a sweep. Like, you want to see a wick or tweezers form on monthly bars, but you want to see gold spend some daily and/or weekly candles distributing and getting knocked down and trying again and getting knocked down over $2,100. Otherwise an ATH that doesn't show signs of having its fever break can go quite literally anywhere, although the macro and timing does not currently make sense for this to be the case at present. One of the best ways to play this is in the GLD ETF. Calls when it trades to about $178.5 with at least 3 months on the contract will print a lot of money closing over $200 if my trade is correct. I can only tell you that the world is in trouble. A bull impulse when breadth is poor, macro conditions are poor, the timing doesn't make sense... all of them should be causes for alarm. One day these distractions won't be maintained anymore and there will be significant problems we all have to face outside of the computer in the real world. To make it through that, you have to be a good person, cultivate virtue, and go back to valuing and maintaining our traditions again.
COMEX:GC1!Long
by LordWrymouth
4
US Dollar $DXY making history?Not long ago we mentioned the current strength in the US #DOLLAR. Since then TVC:DXY has slowly crept higher and it is testing the downtrend. Head & Shoulder top pattern is likely done. It is taking to long & pattern has been in place. 🚨🚨🚨 This is the 1st time that the US Dollar has not broken this major support level in the month it retested! IS it really "Different this time"? Looks like it! Continues #GOLD entering oversold territory but it's likely going lower, waiting to rebuy lots sold. #SILVER maintains its downward trajectory & about to face up trend. Precious metals are suppressed with derivatives. WHY? Higher prices in these show that there are issues in the financial system. HUGE Squeeze coming in future?
TVC:DXY
by ROYAL_OAK_INC
Is this Woo-Woo? Absolutely, it is. Get in here.I've not been doing a lot of technical analysis, but I really don't even need to keep up with it! I just come back every few months or years and check out my pitchforks. They're always giving me such an interesting perspective into the market. If my pitchforks align with my love for Wyckoff Cycles (forextraininggroup.com), I trade those. Today, for no reason, I added a little fib fan. I also added some grey boxes which were informed by various fib projections where I think the price action will be a knife fight. I added some red boxes where I lose total interest in a long position. I think the chart speaks for itself! Enjoy.
AMEX:SLVLong
by DonjonCapital