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SLV trade ideas

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.
AMEX:SLVLong
by BobbySpa
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
AMEX:SLVLong
by MegalodonTrading
4
SLV - what's next?SLV traded down to $10.86 last month. It had not seen those levels in more than 11 years. After making a high of $48.65 in 2011, SLV ultimately traded down to $13.04 in December 2015 (orange support line). A rally attempt in the first half of 2016 to take out the downtrend line from 2014 (orange resistance line) failed and the $13.04 low was successively tested twice in late 2018 before SLV tried to again attack the downtrend line from 2014. Ultimately this orange triangle failed with the coronavirus events and the $13.04 low gave way. Volume spiked at the low and is much higher than the sell off that preceded the 2008-2009 sell off. MACD and RSI made lows not seen in many many years. As a result of this sell off the gold/silver ratio spiked to all time highs by a long shot. It still remains extremely elevated at 111 as gold has made it back to its highs pre coronavirus. I expect that SLV will make up this underperformance in the near term. MACD and RSI favorable. We are at about a 50% retracement from the recent low to its high immediately preceding the sell off. This should correct sooner rather than later.
AMEX:SLVLong
by BobbySpa
3
SLV: It won't be long before it's tarnished!Sorry, silver will be falling off a side of a cliff, along with the rest of the economy! Once people find out it's worthless, they will be casting it into the streets! Maybe it'll come back some day, but it could be generations before that happens! It's been generations since people used silver as money, and it's not coming back! People used to use floppy disks and cassette tapes too! We're much more likely to see EBT ration cards than a silver standard!
AMEX:SLVShort
by DanielSong39
4
SLV - Paper Sale AlertA normal bounce is a 50% retracement. That's coming around here. Selling off some of the $12 calls I had picked up at lower prices. Intend to continue focusing on adding to the physical side. The paper side is so disconnected from reality. It's tradeable on technical but my earlier concept of using it as a forward hedge doesn't work. Physical premiums have surged to $4 an ounce on generic silver and $9 an ounce on the American Eagles. Paper prices do not reflect the actual metal demand. Still have LEAPs out to 2021 and 2022 but I learned my lesson in trying to leverage myself in physical universe with paper.
AMEX:SLV
by Glewis54
Silver Weekly Resistance| Oversold bounce|Macro Structure Evening Traders!, Today’s update will be on Silver, which has breached an important weekly support, now potential resistance upon a retest. Points to consider, - Trend bearish (lower highs) - Back test of Support likely - RSI in oversold conditions - Stochastics in lower regions - Volume climax evident - VPVR currently flat Silvers overall trend has been putting in consecutive lower highs, it broke a major high timeframe support with a gap open. Back test of this support will confirm a bearish retest, which will be extremely bearish. The RSI is in oversold conditions, leading silver to a probable oversold bounce into weekly resistance. Stochastics is in the lower regions, can stay trading here for an extended period of time, however lots of stored momentum to the upside. Volume climax is evident, with above average nodes, sign that a temporary bottom may be in. The VPVR is currently flat, this is within the open gap region where silver is likely to fill for a retest. Overall, in my opinion, Silvers oversold bounce is probable for a retest of weekly resistance; a rejection will be very bearish for the overall macro structure. What are your thoughts? Please leave a like and comment, And remember, Timing, perseverance, and ten years of trying will eventually make you look like an overnight success. – Biz Stone
AMEX:SLV
by AzizKhanZamani
SLV: 2 wave on a 2 wave. Looks like a good opportunity!Silver looks like a great opportunity lately. Since I do not have the resources for or access to physical silver, I'm investing in iShares SLV ETF. Seems to be close to major support and near the bottom of a 2 sub-wave within a larger coming 3 wave. Please comment and let me know your thoughts! Thanks Dalon Anderson from High Altitude for the idea on silver. This is my modified plan on this 3-wave in SLV. Buy SLV at $15.5. Sell 75% at $39. Hold 25% longer term.
AMEX:SLVLong
by BlueDog624