SLV trade ideas
Long-term SLV breakoutI've only just noticed this because I'm an idiot, but Silver broke out above a long-term overhead resistance! Of course it is getting a little over extended and a healthy correction is needed, but the subtext of this breakout means a lot for the long-term direction of this precious metal.
Still inOMG. Silver is on fire.
Volumen confirming.
If this continues tomorrow, 15.10 is gonna become support.
Silver Leading GoldEven I have been shocked by SLV's moves lately. I was caught completely unprepared for it which is fine because it makes a signficant part of my portfolio anyway. Its both industrial and precious, but what is peaking my interest now is that SLV might be leading GLD which is bullish for precious metals anyway. In a bull market SLV will eventually take the lead. Is the beginning of it (unlikely in fact), but it is a concept to keep in mind as it works it's way to the upper resistance.
SLV - Not to be outdone by Gold, Silver making moves of its ownLooking at Silver's weekly chart, it has finally cleared the overhead resistance that's been keeping it down for years. I think long dormant bulls came to life with the Fed's recently stated intention to raise inflation (yes, as backwards as that sounds, that is what was said). Rising inflation = weaker dollar = stronger precious metals. Silver tends to be more volatile than Gold so if this is the bottom with the bulls ready to take the reins, I think this is a great spot for a long position. I will be curious to see how quickly the price action moves past the dotted white line. It has been a strong support area, so it may prove to be an equally strong resistance area. Regardless, I like what I see with Silver and I'm buying the breakout.
The SLV Lining of Monetary IdiocyHey everyone. The poor man’s gold looks like the deal of the decade at the moment. I know we’re all in a hurry to pick out Lambo interiors during the upcoming LTC and BTC halving cycles, but don’t miss out on this.
Top chart:
+408% move in the 2009-11 bull market followed by a 72% correction. Sounds eerily familiar, right? More mature asset + more mechanisms by which to suppress price = longer cycles. Markets win on a long enough timeline and price will be discovered when value is realized. No telling if the bottom is in, but it’s just a hair away from 2016 lows and a few bucks off of 2008 prices. Risk seems to the upside.
Bottom chart:
1:92.8 gold/silver ratio. This chart goes back to September, 1997 if stretched all the way out. Never been this high and hasn’t spent more than several weeks above 1:80 until late last fall. Maybe nobody wants silver anymore. Like…ever, ever again. Not for redeemable silver certificates…mobile electronics…electric vehicles…batteries…solar cells…antimicrobial properties…something to soak up the next round of cheap money and QE…idk.
Not financial advice…do your due diligence. But don’t say nobody told ya.
$SLV Short Straddle OpportunityRight now one of the few places to find high IV across the market is in precious metals - gold, silver, and their corresponding miners. I'm still currently short IV and technically Delta short in $GDXJ, but I think IV will join the market overall and will fall in this sector over the coming weeks. The AUG-23 14 Short Straddle on $SLV has breakevens above recent highs and below recent lows, making it an attractive neutral trade.
Bull Flag in SilverIt would be nice if the less valuable (retarded half-brother) of gold enjoyed some of his recent success, but for the last while Silver has always been playing catch up or stalled all-together. Right now both precious metals are caught in bull flags, and as always they can go either way but a clear close above the upper resistance would be a big move for silver.
SLV SHORT based on Support + Long-Term TrendISHARES SILVER TRUST Possible SHORT over the long-term coming up. Wait for confirmation signal of breakthrough at 14.10 in the short-term. Otherwise, LONG until 14.53 at least when waiting for the reversal. Ones the (YELLOW) trend-line, supporting the LL on 24 May `19 and 02 Jul `19, is broken go SHORT(33%) until the 1st TARGET(RED) is hit at 14.18. Continuing SHORT(66%) to the 2nd TARGET(ORANGE) at 14.04. Ones that is broken watch the SHORT(100%) possibly until 3rd TARGET(GREEN) at 13.50. This is a strong support-level to be broken based on the hits in the past, Aug `18, Oct `18, Nov `18, May `19 and Jun `19. If this would break expect a continuation until trend-line (WHITE), followed by a reversal in a LONG position., based on long-term support in Dec `15, Jan `16, Sep `18 and Nov `18.
SLV - Is that all you've got?As the goldsilver ratio hits stratospheric levels in the 90s, SLV languishes, bumping up against resistance. Owners of the "poor man's gold" seem destined to be poor for yet a while longer.
SLV LongSilver has broken out of a multiyear descending triangle pattern to the upside. Typically a descending triangle is a bearish pattern so for it to be foiled and having gone to the upside is extra bullish. Moreover, silver entered a bullish falling wedge pattern right after, back-tested the initial triangle's resistance-turned-support and continued upwards. There is likely going to be some consolidation/corrected in the very short term but as far as long term is concerned, silver has only up to go. Silver is also trading at roughly 93:1 compared to gold. This ratio has been proven to be a bottoming signal for silver before in the 90s before it corrects to a ratio of roughly 40:1.
SLV - BOOYAH !The chart speaks for itself. I'm glad I went long when I did. The rise of Gold, Silver, and yes Bitcoin, is a sign of a failing fiat currency system. Think about it.
(My Previous SLV post)
SLV - Silver double bottom and the falling wedgeIs anybody into precious metals? I am. I have been for years. I just put on some SLV today. The double bottom on the weekly and the falling wedge looks like it's time to go long. Normally I may not even bother because it has been such a slow mover for quite some time but as the stock markets continue to deteriorate and crypto continues to climb I think it is time to take shelter. I have zero in the stock market and have only taken defensive positions with SPXS, SLV, Bitcoin, Cash, etc. When the fecal matter hits the rotary device next month and beyond I don't want to be standing in front of that fan.
Good luck everybody!
Going to fill the gap?A little lower on SLV to 13.35 might be a good area to close shorts and go long.
Silver - Running out of SteamLooking at the daily chart for Silver, we can see a solid push from the $13.11 range in November to over $15 in February. However, since hitting strong overhead resistance this run appears to be losing steam. The ADX which measures the strength of the trend appears to have double topped. The MACD is showing bearish divergence as well. There is still a chance for the price to rebound off support and retest the purple trend, but I am biased to the downside for now.
$SLV Still holding shares and watching this wedge.Bottom doji came out the bottom somewhat, and then it popped back in the wedge, still waiting.
