Silver sees a small pullbackI think SLV retraces from here down to the $20.18 fib. Trend looks bullish but pullback is needed before continuing the trend. Also, this range has been a major resistance twice before
SLV trade ideas
$SLV SILVER RUSH 2030long term down trend line may be setting up for a break
measured move could send silver to $100 or more
could take many years to play out
Long SLV. Silver to shine as dollar bounce wanes. The dollar is in a secular downtrend and after a brief bounce back which we played on the long side, the DXY is looking toppy and should continue to rollover in the intermediate term. Besides stocks, a beneficiary of a weaker dollar are the precious metals. I like long SLV as a high beta trade and expect SLV to continue to bounce higher in the coming weeks.
Silver roadmapSilver should run hard very soon for several weeks/months....all aboard the rocket to $40 Silver...or more!
Possible Cup and Handle on SilverDaily chart going back a year. I'm currently averaging into SLV calls 6 months out.
Got some legsIt’s got a good chance to shoot up here next week or so: It’s looking good but might not last long.
SLV consolidating at this level, posible explosive move upSLV consolidating at this level and waiting for GLD for the next move. SLV did a cool price by consolidating just below 2 trend lines which could be very bullish if break them. However, the issue could be as GLD is way overbought and likely will drop. With a drop-in GLD, it would be hard for SLV not to drop too but in the stock market, everything is possible.
SLV is in that symmetrical triangle for almost 2 years and the breakout of it would be very bullish for price.
Price is close to 20 and 50 days MA which is a sign that the price did cool down and consolidate and could be ready for an explosive move up and break both lines.
RSI is dropping and a possible rising in the price could break those negative divergences and could be bullish and fast.
MACD same as RSI.
Overall: SLV is preparing for an explosive move-up. In the last analyses, it was looking like it will drop but good for the bull's price just consolidate at this level. Do bulls have the power to break it is a question and it could likely depend on the dollar moving up or down. On the other side, a break below the lower trend line and same time 50 days MA would open a place to retest BigRed or 200 days MA.
SLV weekly - at major major resistance, drop imminentlySLV weekly is at major major trendline which was formed and act as resistance in 2011. The possibility of breaking above that line at the moment is not big.
Volume in this whole leg is dropping and dropping which is an indication of a fake up move.
RSI is way overbought.
MACD histogram ticking lower while the MACD line starts to turn and it could soon start to move down and cross the signal line which would making more pressure on the price.
Overall: SLV on the weekly chart is still not ready for a major breakout. The major trend line is 3/3 powerful trendline and is not easy to break. For bulls best option would be to retrace to BigRed 200 MA and consolidate at that level for a week or two and then start a strong and powerful move up.
SLV daily - likely continuation of the dropSLV is at top of the huge symmetrical triangle. A few days ago it break down from a rising wedge which is a bearish pattern. On 23 and 24 it restest trending of that rising wedge, but support became resistance, and SLV got rejected hard. At the moment SLV is making a bear pullback will nice opportunity for a further drop.
Volume is confirming price fall as the last several down days were followed with much bigger volume than during the up leg.
SLV is between major MA which indicates on likely stronger move pretty soon.
RSI still has bearish negative divergences which are bearish.
MACD histogram is ticking lower and it also has negative divergences.
Overall: SLV will likely drop more. The first major support is 50 days MA but real support will be BigRed or 200 days MA. Only a strong move up on strong volume, break above 20 days MA, and trend line would indicate for new leg up. However, RSI and MACD should first cool down to whether more momentum for that, otherwise it would only create even stronger divergence.
Will silver follow copper? $SLVMetals have been performing pretty good, AMEX:DBB is up +21% in the last 6 months and above its 200-day MA
The copper ETF, AMEX:CPER is up +12% in the last month and breaking out from resistance.
Could AMEX:SLV follow up? and after silver could AMEX:IAU ?
I'll wait for the breakout above $22.50 with target at $26.
Short SLVSilver coming up against downward resistance. Looks like a good spot to short here. This goes incorporates well with my tactical bounce in the dollar too.
SLV (1d) - Bear Butterfly Harmonic PatternPrice is pausing in the presence of this inside Bear Butterfly's PRZ. Expect a roll over to or near to target1 as a minimum Type1 reaction. If price has natural harmonic reaction to the .236 retrace and virtually immediately rebounds, expect at very least a retest of the high, but a test up to the HOP would be more likely; setting up a potential divergent top Type1.5 entry. Further grind to the upside beyond the HOP will setup a larger Bear Bat.
Old drawling came trueI havent been trading for awhile since I started a new business. Now that my new business acheved ROI I'm back in the markets and looking at some of my old charts. This one played out perfectly....
Follow my channel to see my new predictions for what's coming next.
SILVER IS ON THE MOVEHigh conviction on silver. Silver's run in 2008-2012 can be explained by QE. I believe silver's next run will be due to its properties.
SLVThis thing wants to bust out like a pimple! TV wants me to write a bunch of crap here in order to post but isnt it true what they say? A picture is worth 1000 words so why do I need to type it out?
ISHARES SILVER TRUSTIt is important to remember that trading in any financial market carries inherent risks, and it is essential to develop a sound trading strategy and properly manage your risk in order to minimize potential losses.
Silver starting to outperform regional banksThe ratio of SLV / KRE is looking bullish, having broken its downtrend line with lots of potential.
$SLV - why would you not TA after this?$SLV backfilled that beautiful gap. But strength like that doesn’t disappear completely. Take profits and check for new entry. 2023 will be a commodity boom I expect. I don’t want it at all as it will screw over everyone in America which is what RC wants. Going to be rough. Make this money now. Future is not looking good. Wonder if this is partly to get trump back in office? Yikes
SLV attempting to break trend resistance ! 🥶big bullish impulse to 25-28-30+ is expecting if we can get monthly candle close over this trend resistance!
lovely bounce from SMA's/RSI recently as well, drop boost and follow if you enjoyed <3 thanks
Silver Breakout IIThis is one to watch. As the US Dollar Index (DXY) falls, gold and silver will go up. Take a look at the 1M MACD, we could see a long bull run in metals, especially silver.
$SLV Pullback?SLV has shot up again in the past couple of weeks. After taking a look its a bid extended from the 20,50,100 day MAs on the daily chart. Volume hasn't been anything significant and its facing a long standing trendline. Dollar has also been melting down which is a nice catalyst for SLV but eventually the dollar should find some support near term imo. I expect SLV to cool off over the next week or so and get somewhere near that orange line marked. Not an exact science but somewhere nearby. I think it will take feds actually pivoting to really send SLV into a breakout that people have been waiting years for. Just my opinion open to hearing others! Not financial advice. AMEX:SLV
