Silver to double within a year. Again. A picture paints a thousand words. Monkey-see... monkey-do.
Buy silver and hold.
Godspeed.
SLV trade ideas
Silver Poised for Upside?SLV is setting up a strong case for a position trade. A similar situation recently played out with Palantir, although with greater risk involved due to being an individual stock, but we don't need to exclude the intrinsic value of precious metals. Multiple timeframes are showing technical confluence and this is something to watch beyond 2024.
Key Points:
SLV has formed a larger, albeit lopsided, cup and handle pattern on the monthly chart with another mild version of the same pattern post 2020. The dip having been formed by the 2022 bear market.
Price has simultaneously found support between the Ichimoku Kumo(formed by an offset of the average price between highs/lows) and a well-defined static support/resistance zone indicating stability.
The "Golden Cross" remains well intact from its formation in Q2 of this year. This is bullish bias.
The slow stochastic, also formed by highs/lows as opposed to a rate of change, has pulled back from overbought territory on both the weekly and daily timeframes. The weekly stochastic appears to be a well balanced oscillator for SLV. I personally find ROC oscillators and MA crosses better for exits.
We do have a bearish engulfing candle on this timeframe suggesting near term weakness, so it's critical to watch for incoming support.
Final Thoughts:
Silver remains structurally strong and we have a bullish case on multiple timeframes. While short term bearishness indicates caution, the overall technical picture suggests solid upside potential.
Support: $26
Resistance: $30.5
Target: $34+
$SLV Trade Analysis DarkPoolsChart Overview:
Instrument: iShares Silver Trust (SLV)
Timeframe: 4-hour chart
Indicators on Chart:
Moving Averages: Likely 8 EMA and 21 EMA for short-term trend analysis.
Dark Pool Levels: Represented by white dashed lines at key levels.
Trendlines:
Red Line: Downtrend resistance.
Green Lines: Support forming an ascending wedge after a potential trend reversal.
Horizontal Resistance:
Yellow Line at $29.00: Major psychological and technical resistance.
White Dashed Lines near $28.20 and $26.53: Key dark pool levels.
Key Observations:
Descending Channel Reversal:
SLV was previously in a clear downtrend marked by the red resistance and green support lines.
The recent breakout above the green support line and consolidation near $27 indicates a potential shift in momentum.
Ascending Triangle Formation:
After the breakout from the previous downtrend, the price has formed a triangle pattern, with resistance near $27.08 and ascending support at $26.96.
This formation is often a bullish continuation pattern, suggesting an imminent breakout if the price can breach the resistance.
Dark Pool Levels:
$28.20: An immediate target, aligning with prior price action and a dark pool level.
$26.53: A significant support level where institutional activity may provide a floor for the price.
Resistance and Support Levels:
Resistance:
$27.08: Triangle resistance.
$29.00 - $29.13: Major resistance and likely profit-taking zone.
Support:
$26.96: Immediate ascending support line within the triangle.
$26.53: Key dark pool support level and invalidation zone for a bullish outlook.
Volume:
A breakout above $27.08 should ideally be accompanied by a volume spike to confirm institutional buying and sustained bullish momentum.
Trade Idea:
Entry:
Breakout Entry: Enter above $27.08 with confirmation (strong candle close and increased volume).
Pullback Entry: Enter near $26.96, the lower support of the triangle, for a better risk-reward setup.
Profit Targets:
$28.20: First target aligning with the dark pool level.
$29.00: Major resistance and likely profit-taking zone.
$29.13: Final target, slightly above the psychological resistance zone.
Stop Loss:
Close below $26.53: Invalidation of the bullish setup and indicates a likely continuation of the downtrend.
Risk Management:
Position size should be calculated based on risk tolerance.
Ensure a risk-to-reward ratio of 1:3, considering the entry near $27.08, stop loss at $26.53, and first target at $28.20.
Additional Notes:
Volume Confirmation: A breakout above $27.08 should be accompanied by a surge in volume to validate the move.
Dark Pool Influence: Watch price behavior near $28.20 and $26.53 to gauge institutional activity.
Caution: If the price consolidates too long near the triangle resistance without breaking out, it may signal weakness and increase the probability of a breakdown.
Is everyone offsides on Silver?Silver broke out of a bullish head and shoulders on 10/18/24. This ended up failing and instead was forming the head of a bearish head and shoulders top. The first short entry was the gap down on 12/12/24, the 2nd short was on 12/18. Price objectives are: 24.97 and 23.43
AMEX:SLV
COMEX:SI1!
SLV - More Downside ExpectedSilver is in the midst of an apparent A-B-C corrective wave that could fall as low as 22 while still maintaining a long term up channel. Most likely bottom would be around 25 with a C = A relationship. Good time to pick up some physicals as many expect that China demand and a general silver shortage can boost prices to new all time highs. Some are even predicting triple-digit prices ahead.
SLV jumps on the daily 150 SMA
AMEX:SLV is currently trading within an ascending channel.
On three occasions, AMEX:SLV has touched the daily 150 Simple Moving Average (SMA) and reversed upward, indicating strong support at this level.
This presents a potential entry point with favorable risk management opportunities.
Suggested stop-loss placement: just below the 150 SMA on the yellow lower boundary.
This is not a recommendation or financial advice
SLV...Not my Bitcoin because its a mineral...not Magic Internet Love the hard asset and always give as birthday presents to mi familia. However, why are you investing in commodities controlled by governments? At least CRYPTOCAP:BTC has its miners. Down we go...the tech industry needs it CheAp!
SLV longgold en silver is in there long term up-trend, it looks like it found support at this place. On the montley view it could go a bith lower.
Elliot Wave Theory Suggests a Pullback Will HappenI know the election and FOMC trumps technical analysis but I wanted to put this chart out. Please critique the chart and let me know what you think
SLV eyes on $29.48: first/best of 3 possible supports for longsThis is in conjunction with my big picture Silver chart (click).
SLV has had a significant pullback that may be done.
Ended last week dancing on a pretty serious support.
Ideally this is bottom, or should at least bounce a bit.
$ 29.37 - 29.48 is the immediate and best support
$ 28.83 - 28.89 is the next and moderate support.
$ 28.37 - 28.40 should be strong and is CRITICAL.
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SILVER LONGAccumulating calls as long as we are under 30.25. $32 Target, on the macro it looks like we are hunting $37 area at some point.
SLV - Finally Catching Up With GoldPrecious metals continue to rocket higher and even as Central Banks around the world flock to gold and lighten up on US Dollar exposure, lagging far behind is silver that is still quite a ways from its all time high close to 50. Reverse head and shoulders formations show some possible targets in the 34-35 area but my best speculative bet is that SLV will hit its previous high, perhaps forming a mega cup and handle formation. For many silver enthusiasts, prices reaching $100-200 seems quite plausible. While it's always best to acquire the physical metal, as the ETFs erode value over time due to management fees, Silver is still cheap in my book. With the gold/silver ratio around 80 and falling, I expect silver to outperform gold going forward.
"SILVER" COULD BE THE NEXT GOLD!!!Hello everyone, I hope you are all doing well. Previously, I had shared my analysis on the price rise of gold. In case you missed it, I would like to share some new opportunities with you. The chart indicates a very bullish trend with 1 leg, 2 legs, and a positive RSI and MACD in monthly and yearly time frames. Silver is about to explode in price, with the first target being $40, which is a 60% increase. The next targets are $60 and $70. I will keep you updated on this in the future. Thank you for your attention. (This is a midterm analysis 6 months to 1.5 years)
TVC:SILVER MCX:SILVER1! CAPITALCOM:SILVER FX:XAGUSD OANDA:XAGUSD FOREXCOM:XAGUSD
Caution: Before executing a trade, consider the risk/reward ratio and
implement proper risk management techniques based on your total
investment amount.
Disclaimer: This information or service is for informational purposes
only and is not intended to be personal financial advice
Are you watching Silver?AMEX:SLV bullish chart.
OBV holding at highs.
Couple days consolidation in this area and above $28.50 ish gives this a better look.
#sliver should be on your radar.
Is Silver in the middle of a extended Wave (5)?What Is a Wave 5 Extension?
When both Wave 1 and Wave 3 have moved in a fairly standard fashion, traders often expect Wave 5 to be where we see the extension. Wave 5 extensions in commodities occur when the final leg of a price movement stretches out longer than anticipated. These tend to happen because momentum lags, but optimism still remains high, particularly among retail traders who are often late to the party.
The current graph of Silver is a perfect Elliott Wave impulse, that will be used in the history books.
Are we correct in predicting that there is a high change that Wave 5 extends? That it could be between 100% up to162% of Wave 1, projected from Wave 4.
Will Silver go to 34.32 - 42.54 before the end of the year?
SLV , 100% retracement done and now 1.618 coming Silver has good fundamentals and technicals , it's a good hedge as well
Long SLV - 30 Minute Propulsion Dots w/ SqeezePropulsion dots (in pink) forming below the candles on SLV, with a 30 minute squeeze waiting to fire long. Look for the momentum histogram bars to turn up for an early indication on price movement upwards.
SLV Siver - Bullish Trend Shift Finally?Hello everyone! As always I hope you're all having a great start to your week. Update on Silver in 5 minutes or less:
Pattern is very similar to BTC where we've been seeing a series of LOWER HIGHs followed by LOWER LOWs, however there's a possibility that we're seeing the beginning of a trend change.
We're not out of the woods. We really need to take out the prior lower high that was followed by a lower low to increase confidence that silver is finally making a move back to ATH. That level is at $28.91. The critical support to keep is currently that pivot we saw on August 27th around $27.50.
Nothing is guaranteed in the markets, but probability of the next move being ATH is a move above $28.91 (lets call it $29), and probability that we may be seeing a move back to make a new lower low would be a break of that $27.50 level on a weekly timeframe.
Things look optimistic right now, but watch Gold and see what it does. There may be some rotation that has already start with SLV having a +10% week last week.
Have a great day everyone and thanks for reading!
slvMy Silver Art #slv AMEX:SLV A possible outcome for next big move for silver as she continues to coil with a 106-reaction zone is marked. #investor #stockmarket #technicalanalysis #trader slv
SLV Roadmap August 2024Silver is likely in a multi-year bull with much higher levels to come. Correction are very deep and volatile though
Silver is about to blast off for 3 weeks! (OPTIONS PLAY INSIDE) Livermore Accumulation Pattern is playing out, low is tomorrow till Wednesday, high will be July expiration to possibly end of July. Please check out my previous threads on AMEX:SILJ and NASDAQ:QQQ to see a repeating fractal that the market has been on since COVID.
Right now buy calls for $35 for July for $1-$2 and you're return will be 50-75-156x returns!!
NFA ;-)
Then there will be a plummet in silver, and it'll ride back up to tag $50 before EOY.
SLV - Iron Condor StrategyAfter a big move up, Silver may enter into a long consolidation phase. The Standard Deviation chart indicates volatility continuing to fall being that the Bollinger bands will be moving in towards the moving average. As such, i'm putting in Iron Condor strategy anticipating that SLV prices will remain within the 25-30 range through the rest of the year.
Opening (IRA): SLV July 26th 25 Monied Covered Call... for a 24.26 debit.
Comments: High IV here at 36.4%. Using the July 26th weekly here for the setup, since this is one of those options highly liquid underlyings with both liquid monthlies and weeklies, and I like to attempt to keep things in that 45 DTE wheelhouse if I can.
Because of the size of this underlying, I'm looking to ladder out if we get continued weakness, but am fine with taking my Happy Meal profits and move on if that happens.
Here, I like the metrics of the monied covered call relative to a similarly delta'd short put, so sold a -75 delta call against a one lot to emulate a 25 delta short put's metrics, but have the built-in defense of the short call.
Metrics:
Buying Power Effect/Break Even: 24.26
Max Profit: .74 ($74)
ROC at Max: 3.05%
50% Max: .37 ($37)
ROC at 50% Max: 1.53%
