Silver reaching overbought areaSilver approaching overbought. May see bottom of the channel at 13.75 some time in the next few days.
SLV trade ideas
SLV - A Little More Upside PossibleLast week I was looking for a test of the 14.80 recent high mark and still am however looking at different views, I see a possible move up to the 20-week moving average based on the following observations.
SLV appears to be in an A-B-C corrective phase with the A wave running from 17.28 down to 11.62 in three obvious waves.
SLV had some trouble on Friday staying around 14.60 and dropped down to 14.44 to close the week. The 50% retracement of the A wave is right here at 14.45. Perhaps not a bad place to sell. But it's possible that the current B wave up structure might run up to the .618 Fibonacci retracement level and that could also be meeting with a declining 20 week moving average.
The wave structure for the current B wave move shows 3 small waves up from the March 16 low to a minor a wave at 14.34 on April 6. Next came 3 small waves down to 13.92 on April 27. Thus far, we have but 1 wave up. If this B wave goes 3-3-3, then we could expect a small drop back and then a final move up to complete the B wave.
An interesting article explained how physical silver could be selling for around $10 premium while paper silver declines. I linked it below.
double top completed...its in correlation with spxi just need a big scare into the dollar...as the dollar rises these will drop
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SLV - Looking for possible topLooking at a weekly view, SLV might test the 14.80 level (and fail as always). Looking for a move down to 12 or lower by the end of June. Long my LEAPS and physicals but have been selling options a week or two out on every little pop. It's been paying off as SLV has been dead lately. Will sell June 19 $11 calls if we get up to 14.80
SLV Long - Look for price to rally quickThe SLV chart has clearly shown a break out. I think we should expect a quick rally in the near term.
SLV - finding FIB support!SLV has found FIB support from its high on Sep 2019 to its low last month, and from that swing low to the high it made last week. Bull flag consolidation pattern. RSI and MACD should move higher. Watching this one closely.
SLV - lot of work being done at this level!Looking for upside break-out soon. Feels like it's under accumulation. SLV playing catch-up. It's coming.
SLV - still something to prove!On a monthly chart SLV is holding critical support with some optimism as the economy opens. Not sure, but to me it looks like something is brewing. Downside or upside break? It's still in a long downtrend but holding support. MACD getting smoother and RSI looking favorable for a move to the upside. Large monthly red liquidity spikes should be followed by some green buying as markets open and things move toward some type of normalcy. I would expect SLV to get back to its pre-coronavirus price soon. Again, the GLD/SLV ratio is still historically very high and the chart there looks like the ratio wants to fall. My two cents on SLV.
slv to 9will silver hit 9 first then finally to low of 6.50 as dollar goes to 160 eventually within the next two years....
SLV - Another Head and Shoulders Brewing?On a daily view, the odds of hitting 12.85 look pretty good as this could be a head and shoulders neckline. Additionally, the 50% Fib retracement makes it a likely target. Selling some $13 calls as this rally tops.
WANT TO TRIPLE YOUR MONEY WITH SILVER? HERE IS THE LOCATION...Hello everybody,
I am seeing a huge opportunity for Silver bugs. It looks a lot like a silence before the storm for the upside. If Gold ends up going ATH, i think there will be more money moving into commodities such as silver as well. I believe this may be the Altcoin idea you have been waiting for. It almost looks like 2017 Ethereum buying opportunity.
DO YOU OWN RESEARCH. IF BULL IS ON, WE WILL BREAK THESE RESISTANCE. ALWAYS HAVE STOPS. DONT BET MORE THAN 5%. PLAY FROM A POSITION OF STRENGTH.
Best wishes
Sincerily
Bo Bugra Sukas
SLV - still lagging GLDWhereas GLD and GDX have returned to pre coronavirus highs, SLV has lagged getting back to where it started. I expect that this will correct shortly. GLD/SLV ratio still in correction mode. SLV should see a spike that will close the gap in the $15.50 area.
SLV - Spike in Option Premium TodayDespite a low volatility day in silver (while gold broke into highs) premiums in SLV options expanded noticeably today. Always a thought that silver won't start soaring until gold makes new highs. Let's see what happens next.
Something BIG is brewing in metals. Deflation may just be getting started. From a technical stand point, SLV could see the $10 low tested recently.
SLV DAILY WEDGE BREAKOUTBuyers have come into market and broke daily upper trend line of wedge pattern, since broken supply level may retest now demand before heading north
