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Golds decision is here Gold will most likely rally to the 1855-1860 area before having a significant pullback. That area marks the major trendline that has marked the tops of this consolidation that has lasted close to 18 months. The bullish case would be marked by a touch of the trendline , a correction, then a decisive break and rally. The length of the consolidation will lead to a significant move that would target the all time highs and possibly much higher. A fail at the trend line will send gold plummeting to my lower support levels at 1669 then 1551. The next few weeks will be interesting! Safe trading.
TVC:GOLDLong
by Fida4u
SILVER READY FOR MAJOR BREAK-OUT HIGHERHello, Last time I posted bearish scenario for silver but as weekly candle did not close below important weekly levels, I reverse my bias and now lean towards bullish price action on silver. This system I use with fractals works out well for me and gives quite decent price targets for the future. Do with it whatever you see fit. Dollar is on major break-down point, inflation is rising rapidly. Expecting silver and gold to break higher :) This is not a financial advice, stay safe!
TVC:SILVERLong
by Patrikas10
5
Silver has a decision to make Silver looks to be in the midst of a pullback. Wensdays FOMC meeting and fridays non farm payroll numbers will be crucial to the markets movement next week. If the fed sounds very hawkish, the pullback will likely go a little deeper for silver, possibly to the $22.60-$23 level. In the case where the fed comes off dovish or metals react positively, I see silver quickly rising to the $25.5-$26 level. The 200 daily moving average sits at $25.50, a test of the 200DMA at this point would be expected. The majority of silvers range between August last year and this years August was between $26-$27.7. The $26 level used to be support , now it serves as a resistance.
TVC:SILVERLong
by Fida4u
2
Bearish divergences are building in Silver Silver has had a powerful move as of recently. I believe that it is coming into some strong resistance at the $25 mark, along side some weaking momentum on the smaller time frames. Silver gave back a great portion of its rally on friday after backtesting the rising wedge it broke down from the previous day. The 4hr chart exhibits some bearish divergences that are building in the Rsi and MACD. The divergences, coupled with consistent seasonality sell offs in November (last 9 years) , have me targeting the $22.50-$23 area in November. I believe that would be a great buy , subsequently coming into a strong month and quarter for metals, December and q1 2022. This being said, silver can still muster up a move to $25 and even slighlty higher. Proceed with caution!
TVC:SILVERShort
by Fida4u
Dollar DemoninatedDollar bears think time is running out for the recent strength. This is how to trade it if it does. The 200 week EMA above will surely be a barrier if it even gets there. The signal worth waiting for is a clean trend break where the likelihood revisiting the lows increases. Oil is a great way to play this. Eventually, price should find it's way to $90ish regardless and if the dollar plummets, especially to fresh lows, $90+ is a near certainty. Silver has certainly been a pain lately, however, it offers titanic rewards if you steer clear of danger. If the dollar sinks we can be sure silver will be a memorable trade. If the dollar bears are wrong, the titanic will be the 2nd biggest tragedy to Oil and Metal bulls.
TVC:DXY
by trade-God
Hi-Ho Silver!That pop higher today above $22 is pretty key (PURPLE resistance line, most significant). Looking for $23+ Understanding Support and Resistance Levels: Remember, the more informed and objective we can be with numbers, the more confident we can be with our trades. That’s important because, although price action is random (a fact that has been proven time and time again), there are repeatable patterns we can use to get an edge. Two of those objective data points we can use to gain an edge are support and resistance levels. These are two of the best tools we have when it comes to swing trading. Why? Because they give us strong data points that suggest where an instrument is likely (and unlikely) to go. But this is really key: Arbitrarily cataloging each price level that appears to be relevant as a support or resistance level isn’t going to get you far. That’s why Aspen Trading takes a unique approach to support and resistance levels. With Aspen’s Support & Resistance Levels, we measure where trades (prices) occur in terms of frequency. This gives us a sense of where market participants are wagering prices may go. That’s about as raw and unfiltered as you can get in terms of displaying what has taken place. There’s no room for interpretation - this is raw data that can be used to get a sense of where prices may be heading.
AMEX:SLVLong
by AspenTrading
Trading Range Breakout - Vox Royaltylooking back over 2021 the share price of this royalty company has done it all. We have seen a sell-off that culminated in massive volume (for this company) putting in a base. We then carved out a trading range before catching a bid to new 52 week highs. The recent breakout was welcomed, but the pullback to previous resistance on low volume, which is now acting as support, is crucial. Assuming the bull move is not over and buyers buy into value, the measured move of the trading range breakout would take us up to C$5.00 in the last 7 days Vox is up 5.1% 1 year up 34.2% Oct 01 - Vox Provides Recent Development and Exploration Updates from Royalty Operating Partners Gold Standard Ventures, Genesis Minerals Limited, Metalicity Limited, Black Cat Syndicate Limited and Norwest Minerals Limited July 29 - simplywall.st
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by TH_Analysis