Silver SLV updateLike gold -0.14% also near decision point. Today's rise closed one gap. One small gap remains around 13.60. If get bearish candle formation here or break of current uptrend line will short. Process your way.
SLV trade ideas
Trouble if we can't get above January high - SilverI had been anticipating a three month test of the high in silver this month. The sudden move up adds to the drama as we are still early in the month. A failure to make progress here and price could fall to 13 or even under 10!
04-18 SLV ChartSo we need to know the next floor for Silver on the elevator. I'll give you the next 2 floors.
I'm surprised this is taking half a century.
04-18 SLV ChartCup and Handle formation X 35 years. I think Silver could go to $162. .. before 2035 comes.
SLV June 16 Covered CallBought two lots of SLV at 15.74 and sold June 16 calls for 38 ea (45 delta strike). The IV was >20% today.
The position break even is reduced to 15.36 with a 4% max profit on the break even cost.
At 60 days to expiry, this yields 25% at an annualized rate.
Ideally the cost basis on the position can be further reduced after June with additional calls sold against the position in the months ahead. Thinkorswim analysis shows 60% probability of some profit.
Precious metals don't yield, but covered calls can be used to generate income against an existing ETF position.
Silver has been trading in an increasingly narrow range for the past year, and may continue to do so for some time yet.
SLV 6 point breakout After a bullish divergence (blue lines) AMEX:SLV has looked strong and looks to be breaking out today of a smaller congestion pattern. Near side resistance at $15.95 and $16.05
Silver will Whip Lash Soon! Gold nearing it's Inverse H and S BREAK OUT and Dollar is nearing completion of Bear Flag. Enjoy the Ride. Big money to be made here!
GOLD READY TO SURGE ? NOT JUST YET (PART 4 OF 5 - SILVER)Silver-is an industrial metal, so it will do well in a good economy.
Silver-is also similar to gold-for world tension in geo-political events.
If gold-is to surge, silver-usually will also.
Yet the chart for silver- does not indicate an imminent rally,
GLD & SLV trend divergenceIn early 2017 GLD and SLV trends began to diverge. Gold and silver usually track closely but with silver being more volatile and quirky than gold. This might make SLV a better buy if we're going to see a PM rise (given more room to rise), as some are predicting (eg, Sachs turns bullish on gold for the first time in 5 years).
Silver on the Buy Watch list a MUST
Sitting at mid term support, showing long term trend line just below here. Start accumulation but know the trend line is in play and the better spot to FULL load. Don't let this opp pass you buy. I usually hate silver, but she's showing signs of real potential. JPM loading another 1.2m ounces this week, why cause they expect it lower in time?
SLV: One more drop down?Looks like a fairly good triangle in SLV. When price is going down into a triangle most often it continues down at the end of the triangle. Like most patterns we often see what we are looking for. So no guarantee. But would not be surprised to see one more drop in silver. IFFF this occurs may well be a great base for a new bull run. Take care. Have a great week.
SLV: To follow or NOT to follow .. GOLDInteresting descending triangle, wedge formation... when might it break out?
considering it`s seasonality is best in Jan and Feb... it makes matters even more iffy for anything stellar into the 2nd best and descent month of June
Silver Breakout of short term downtrendMore sideways chop in the channel but breaking out of recent short term down trend. Up to the .50 FIB, closing on the .382. There is a lot of VAP in the 16 area not shown on this chart, will take some time and volume to break through that.
SLV Ready to Pop?Hi all - I am brand new to trading view and trading.....can someone critique this SLV chart I prepared. From what I see it it is in a tight and narrow trend and has some real upside if it can break above short and medium term resistance???? Any input would be much appreciated. Thanks
Buying here - SLVLike SLV filling the gap. Been looking for tests here for three-month and three-week tests of previous lows. If we hold up this week, Should be going higher
SLV poised for three-month test of the lowOne pattern I like to follow is a three-period test of the high or low. Should SLV hold this level (15.51) on Wednesday, the end of the month of February, it could be forming the base for a long-term bottom. The intermonth low for December was lower, so price action in March could also fall to test that low (14.74) but the a successful monthly close is a long-term positive. Of note is that there is also a three-week test of the low next week. This is very reminiscent of the Feb 2016 low in SPX, with a weekly and monthly test occurring around the same time. We all know what followed after that.
Contracting WedgeHi guys. Here's another pattern chart from your modest trade partner and imho. As always have a nice day.
Megaphone + BullflagHi guys. I was expecting more strength from silver today but in my humble opinion it's still strong enough to float up next week. Have a nice weekend.
