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SLV

Silver short term pullback and long term bullishSilver had a pretty good run since mid October 2022 after months long of price consolidation. It has been moving in a upward parallel channel since mid November. It has hit a key resistance level at $24.5 (Red Line) and failed to break out multiple times since Dec last two weeks.. Today the lower channel line got breached and if fails to get back into the channel , I see Silver might test the $22.38 support level near term and consolidate sideways for some time to build momentum. Failure to hold the $22.38 level will take it to $20.8 support level. If Silver manages to get back into parallel channel and break $24.5 resistance level, next target would be $26.3 Let me know your thoughts in comments.
COMEX:SI1!
by gmaster29
Silver W/ topping tail and possible pullback.What we are looking at here is the CFD on Silver on the Daily TF. We are looking at a downward slopping trend line (top yellow line) that is acting as resistance. Towards the end of the downward slopping trendline you will see a purple box which incases a potential topping tail. If this is a true topping tail (we will know at the close), combined with the resistance of the downward slopping trend line, creates a short term pull back. The pullback that is being created will hit support at the convergence of the Orange Line (first support) and the bottom Yellow Line). Where these two lines converge is also a 3.86 Fib retrace and a $22.00 dollar even number. I will be watching this closely to see if this is a true topping tail so that way I can time my entry and exit. What do you thing will happen when the stock hits the support, do you think it is going to create a bounce or is it going to break through for more downside? This is not financial advice.
TVC:SILVER
by GarethSolowayOfficial
6
Silver is gearing for a move up, but is it ready?Silver had a huge move up in 2020, but that was all it managed to do back then. Since its first significant peak in August 2020, it went sideways and started declining. Silver was in a big bear market since 2011, then entered an accumulation range, and then had its capitulation move in March 2020. Then with all the fiscal stimulus, it skyrocketed, but most capital flowed into crypto and stocks, not precious metals. As inflation remains high and interest rates could be near their peak, and investment in metal miners has gone down a lot over the last decade, this precious metal that seems to have lost its shine might be ready to shine again. It looks like silver had a very healthy pullback into the top band of its accumulation range. Now resistance seems to have turned into support, and the market could head toward 24$ in the next few months. The truth is that I don't believe that the market has fully bottomed yet, although it could very well have, and that eventually, it will have on final leg down towards 16$ and bottom there. The main reason I think that has to do with how the market bottom is that there are two double bottoms around 17-18, and there is a little 'gap' at 16. Essentially I would like to see the market test 16$ because I want to see it thoroughly test that untested breakout, the Yearly S3 Pivot, and the Volume Profile Point of Control. Another reason that I think the market will go down there again is that I expect a major deflationary episode to take place in 2023, one that has the potential to create a liquidity squeeze (risk asset collapse) that would affect precious metals too. In my opinion, the current move up in Gold, Copper, Silver, etc., mostly has to do with low production/inventories of metals, while demand seems to have bottomed in the short term. Eventually, the market will get crushed again, but I think the bounce has legs for now. Therefore it would make sense to look for longs in the 16-20$ zone and take profits in the 21.7-24$ area. Shorting 24$ might be a good idea, but I would prefer to watch how the price action develops before I step in.
COMEX:SI1!
by BitcoinMacro
$SLV Pullback?SLV has shot up again in the past couple of weeks. After taking a look its a bid extended from the 20,50,100 day MAs on the daily chart. Volume hasn't been anything significant and its facing a long standing trendline. Dollar has also been melting down which is a nice catalyst for SLV but eventually the dollar should find some support near term imo. I expect SLV to cool off over the next week or so and get somewhere near that orange line marked. Not an exact science but somewhere nearby. I think it will take feds actually pivoting to really send SLV into a breakout that people have been waiting years for. Just my opinion open to hearing others! Not financial advice. AMEX:SLV
AMEX:SLVShort
by EZmoney24
Are Precious Metals Finally Reacting To Fed Fear?Myself, like many others, continue to believe Precious Metals (#gold & #silver) are about to enter a very explosive price phase. The past 12+ months have seen Gold rally after COVID, then enter an extended decline phase as the speculative bubble distracted everyone from core value. Now that the Fed and GCBs are dancing around rate increases, higher inflation, and consumer demands, will Precious Metals shift direction and start a new up trend? Time will tell, but this recent Double-Bottom in Gold certainly looks promising. I'm still cautiously optimistic the past 10+ years of extremely easy money policies will setup a huge rally phase in Metals. Near Dec 2019, my main cycle system moved into a Depreciation cycle phase. That means we have until 2029+ for this cycle to continue to unwind. Remember that is still 6~7+ years from now. The unwinding phase will be very similar to the 2000~2009 Depreciation phase - sideways trends with extreme volatility. I expect a slow melt upward over the next 3+ years, eventually extending into a parabolic upward price trend (increasing in speed and volatility as we near 2028~29). This recent BASE ($1690) will probably turn into a very strong decades-long base/support. We've never been anywhere close to what is happening in the US/Global markets before. But I'm here to tell you the real fun start after 2026~27. Until then, the global markets are shifting in structure, attempting to find support - just like what happened near 1997~2001. Get ready for another 5+ years of big volatility and trends. Follow my research. Don't miss these huge trends.
COMEX:GC1!Long
by BradMatheny
Silver Order Flow - Screams Sell-Side ActionRoll up your sleeves and get to work on your order flow reading skills! This market is providing opportunities based on the right interpretation of the order flow script like few times I’ve seen… Don’t trust me? Watch the video and judge by yourself. In my last video it was gold, so this time is the turn of the younger brother silver. This one has got a double whammy of events against buyers… Not only the 8h has triggered a short, but that comes on the back of a short entry off the hourly… All happening in the context of a clear and strong bearish trend in the daily as the USD torpedoes ahead. Remember the two key main features of the OFA indicator: Magnitude: A major clue that will help determine the health of a trend is the type of progress by the dominant side in control of the trend. We need to ask the following question: Are the new legs in the active buy-sell side campaign as identified by the script increasing or decreasing in magnitude? Velocity: When it comes to the distance the price moves, the magnitude is only ½ the equation. The other ½ has to do with the velocity of the move or the speed. Was the new leg created after a fast and impulsive move? Or did price make a new low or high with the movement being sluggish, compressive and taking too long to form? A good rule of thumb is to count the number of candles it took to achieve a new leg.
COMEX:SI1!Short
by FlowState
A SILVER underdog and a correction of the Gold to Silver ratioThe History of the Gold-Silver Ratio Citation: www.investopedia.com Historically, the gold-silver ratio has only evidenced substantial fluctuation since just before the beginning of the 20th century. For hundreds of years prior to that time, the ratio, often set by governments for purposes of monetary stability, was fairly steady. The Roman Empire officially set the ratio at 12:1. The ratio reached 14.2:1 in Venice in 1305 and remained at this level up until 1330 when it fell to 10:1. In 1350 it fell to 9.4:1 in some places across Europe. It climbed back to 12:1 in the 1450s. The U.S. government fixed the ratio at 15:1 with the Coinage Act of 1792. The discovery of massive amounts of silver in the Americas, combined with a number of successive government attempts to manipulate gold and silver prices, led to substantially greater volatility in the ratio throughout the 20th century. When President Roosevelt set the price of gold at $35 an ounce in 1934, the ratio began to climb to new, higher levels, peaking at 98:1 in 1939. Following the end of World War II, and the Bretton Woods Agreement of 1944, which pegged foreign exchange rates to the price of gold, the ratio steadily declined, in the 1960s and again in the late 1970s after the abandonment of the gold standard. From there, the ratio rose rapidly through the 1980s, peaking at 97.5:1 in 1991 when silver prices declined to a low of less than $4 an ounce. For the whole of the 20th century, the average gold-silver ratio was 47:1. In the 21st century, the ratio has ranged mainly between the levels of 50:1 and 70:1, breaking above that point in 2018 with a peak of 104.98:1 in 2020. The lowest level for the ratio was 35:1 in 2011. When Was the Gold-Silver Ratio at Its Highest? The highest the gold-silver ratio has been in recent history was in April of 2020, following the onset of the COVI19 pandemic, when the price of gold outpaced silver by more than 125:1. What Is the Historic Long-Run Average for the Gold-Silver Ratio? The long-run average gold/silver ratio is around 65:1 since the 1970s when the gold standard was abandoned. Historically, however, the ratio hovered more around 15:1. From Peter Frankopan's book "The Silk Roads" Chapter 12: The Road of Silver Page: 235 As Adam Smith later noted in his famous book on the wealth of nations, "the discovery of America and that of a passage to the East Indies by the Cape of Good Hope, are the greatest and most important events recorded in the history of mankind." The world was indeed transformed by the roads of gold and silver that opened up following Columbus' first expedition and Vasco da Gama's successful journey home from India. Page: 233 "In China, silver's value hovered around an approximate ratio to gold of 6:1, significantly higher than in India, Persia, or the Ottoman Empire; its value was almost double its pricing in Europe in the early sixteenth century." More Gold Than Silver Above-ground Citation: www.silverbullion.com.sg From the crustal abundance of precious metals, we can also see that the gold-to-silver ratio in the earth’s crust is about 1:19. This means that there is roughly 19 times more silver than gold in the ground. However, the mining gold-to-silver ratio is about 1:9 – only 9 ounces of silver are mined for every one ounce of gold. The reality from mining is a stark difference from scientific estimates. According to the annual survey reports from Thomson Reuters, there are 71,578 tons of ‘identifiable above-ground’ silver stocks. Compare this to the 187,200 tons of above-ground gold stocks. There is actually lesser identifiable silver than gold above-ground. Despite this, the gold-to-silver ratio, when comparing the prices of both metals, is about 1:70 at the time of writing. In other words, the value of an ounce of gold is equivalent to 70 ounces of silver!
AMEX:SLVLong
by jfs2152
3
SILVER RESISTANCE RESISTANCE RESISTANCE... NOW SUPPORT?Looking back at silver over the last decade reveals a very significant trend. Note the resistance peaks and where silver crawled around in the dirt for years and years. In 2020-21 silver broke out of that trend only to come all the way back down the touch the trend.. right now. Is the old ceiling the new floor? It very well could be. It is my opinion that silver will more than 10x over the next 6-10 years. However, we are in strange times and things are accelerating. It is possible that this 6-10 year forecast is too small-minded and things happen much sooner. I am very interested in silver, gold, and the miners moving forward and I believe this could be a bottom.
TVC:SILVERLong
by gghsusa
4