Gold - "No reason to get excited" the thief, he kindly spokeTesting trendline, expecting rejection here. Target around 1600
SLV
$SLV Elliott Wave BeginnerStill sticking with my original EW counting.
Not sure if the corrective waves is done yet.
It can possibly go down to 15 before it hits TP1 because silver and gold tends to dramatically decrease during recession.
Still in the long run $SLV might have a lot of potential to go higher than ath.
Silver (XAG/USD) - Weekly - Support, Resistance, TrendlinesSilver (XAG/USD) - Weekly chart.
Support, Resistance, Trendlines.
14-year Logarithmic chart.
05/11/2022.
SILVER XAGUSD Supply And Demand Support And Resistance AnalysisPlease see picture for analysis.
-Price is reacting off of demand/support that's been holding for 2 years now.
-Still a very high demand for REAL physical silver.
-Waiting for confirmation.
Thoughts? if you like it don't forget to hit the like =)
4 reasons why I’m buying $SLV:(Elliott Wave Beginner)
1. 5 impulse waves completed (2020)
2. Supporting 0.618 ($20) for over 1 year
3. Volume increased over the past 2 years
4. The massive support volume below $16
TP: $43
SL: $15
XAUUSD GOLD Supply And Demand AnalysisSee Picture Short for analysis..
Thoughts? I love gold for buying so this woud be a small risk.
Silver. Another asset ending wave 4?Triangles happen in 4th waves, and silver has clearly developed a nice wave 4 triangle about to end. In a few weeks silver is going to work it's way to an ideal price of 40.
SILVER XAGUSD Supply And Demand Support And Resistance AnalysisSee picture for analysis.
Feel free to share your thought...
#silver #supplyanddemand #supportandresistance #technicalanalysis
$SLV Long 50 JUL callsWent long 50 JUL SLV 23.5 calls.
Nice looking chart and I like the R/R on a move to at least the top of the box. Will reduce the position there and manage on price reaction.
Mental stop just below 30 wk MA.
Nice consolidation with accumulation type buying, cup and handle with a good retrace from the JAN to MAR move, I think it's going for next leg higher.
A break above the box should expect a massive move, as this has been digesting since AUG 2020.
If calls go farther ITM may sell bi-weekly calls against them to reduce my cost basis, playing it day by day week by week.
Miners and Metals look good overall, many above 30wk MA.
Cheers
LONG SLV more upside potential than GLDGLD and SLV tend to do well during these chaotic times, with inflation sky-high, Russian attacks, and crypto still at an early stage. At the moment, I believe investing in GLD and SLV is a hedge against risk and has potential upside growth until inflation drops.
Since the Easter holiday, SLV has broken the downtrend line and found a bottom around $22.37. It's shooting for the March high (where the resistance is around 24.50)
Long GLD With rising inflation and politicals risk all around the world, Gold continues to perform as a safe haven for assets. From the TA perspective, Gold has formed a double bottom and it is breaking out late march level ($1957ish). It is aiming for a 0.61 Fib level around $2000, possibly all-time high,
Gold Trading RangeGold may have found a floor today as both MFI and RSI indicators have bounce out oversold territory. Looking at the 4H chart, the MFI and RSI indicators have been a consistent indicator this year of telling when gold bottoms.
I have started entering into gold again but I will be trading with caution as the range is small and I am looking to liquidate my positions once we reach around 1950 range. There is a wedge pattern forming and it could be bullish but it will need momentum and volume to break out past 1950.
Forewarn, Dollar is still going strong and bonds are starting to look attractive so gold may continue to get pummeled. Gold and silver will need the dollar to come down for the two metals to start rising again.
silver's secular bull is only startingsilver's 3rd wave of III is coming and will leave many behind...
$SIlJ wants lower. $8-9 over the coming monthsOn high timeframes, we seem to be continuing the trend of forming lower highs. The rejection of price at $15.49 gives me the setup I was looking for to think $SILJ is going lower.
On top of the rejection, the RSI is overbought, the moving averages on ichi are stretched with price above the moving averages giving me reason to believe price will snap back lower, and I have a hard time seeing how price gets above the cloud (on higher timeframes, there's thick resistance w/ the clouds).
I think there's good reason to believe we're heading lower here. I think price will first head down to $11.66 but being its' already been tested as support multiple times, it's weakened and price should break through that support fairly easily. Which leads me to believe the next target on the downside would be $9.44 and below that $8.32 if that support fails to hold.
Let's see how it plays out over the comings weeks/months.
Silver in the Channel Published an earlier version of this idea with more poorly drawn corridors, but it seems for the most part to be validated for the time being. I expect silver to challenge recent highs and potentially cool back down toward mid 20s once that happens (before moving up further). However it is entirely possible that once silver reaches these targets that it simply continues to tear through them - it depends on other factors, but regardless, I am LONG.
I think metals, and silver especially, will be rising moving forward both in the short, medium, and long term. Inflation is only beginning, monetary conditions are changing worldwide and the financial system is on the brink of a paradigm shift. Out with "old" thinking and in with even older thinking!
Post Script: I'm a noob here, so apologies for any miss-steps.
Gold ThesisAs usual, I have a bullish bias on gold. Fundamentally it can only increase obviously, but the question is when. I believe now is the time to invest. Not advice, just my thoughts.
Silver CFD Upward Chanel?Silver CFDs look to be in a strong upward channel, potential bounce of the lower end of this channel this morning?
Should see soon. If not, probably down for a bit, but then up considering market conditions. Not very good with the chart system here, but.. you get the idea.
Silver Breakout In The Works - Big Move ComingSilver broke out of a descending wedge, a consolidation after its February 2022 run. The 2X silver fund AGQ is looking great here with a technical breakout retest. A bullish MACD cross will likely send this to $50 + then it is going much higher with silver. Precious metals are about to have their moment as stocks and crypto sell off.
Any moment , silver will move Silver looks set for a move upwards. Its been consolidating its recent feom the lows. It remains above the 200 dma and down trendline. It looks healthy.
SLV - Time To Load The BoatWhat a superb pattern.
Since 2020 SLV proved to climb higher.
Then from 2021 we see a consolidation until September.
In November the pivot was already signaling a potential rise. And now in March we had the confirmation.
I think, after this pump in the market, it's time to load the Boat. A free fundamental sign we got as a Bonus is the inversion of the "curve".
See you later, have to load up ...
#loadthesilverboat
LONG SLV (iShares Silver Trust) - very bullish!AMEX:SLV price action is showing a strong bullish flag on the monthly time-frame. Due to the macroeconomic environment, very high inflation rates, and high gold:silver ratio, I am expecting the SLV price to break the bullish flag on the upwards side. If this happens, we can look at the following levels for taking profit:
Take profit level 1: $22.35
Take profit level 2: $24.48
Take profit level 3: $26.44
Take profit level 4: $27.80
Take profit level 5: $31.08
Take profit level 6: $33.00
Those levels were drawn in accordance to various resistance levels.
Good luck,
Your Ganbu
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