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SLV trade ideas

SLV - Ratio CartRatio chart of SLV /SPY. As you can see SLV is flirting with a breakout from a long standing trend line in a tight bull flag pattern. Volume is tracking with heavy moves up and light moves down. We have a rising 50 day ready to make a golden cross. I like SLV to break out and move quickly to the upside over the next few weeks and perhaps even months. Gold made its post pandemic high (its second stab over 2000) in March and typically silver makes its new high within a year. For this analysis the August 2020 pandemic high for gold can be considered an anomaly and not the high from which silver would typically make its new bull market high. Charts on silver miners have perked up. The dollar is still in need of additional correction and I see that lasting weeks as well. If you're long the market SLV looks like it may be a nice way to hedge against an equities downturn. Not trading advice just an observation. Good luck trading!
AMEX:SLV
by BobbySpa
SLV - Significant Upside over next six monthsSilver looks attractive. I was anticipating a three week test of the low, testing 17, but even with the Fed's remarks that aggressive interest rate hikes will continue, silver held its ground. Saw a piece yesterday on seasonality in precious metals prices. The author suggested that silver is seasonally strong from November through the end of February. The morning's market strength may indicate that it is expecting a weak jobs number. There seems to be strength across the board. Are we at peak interest rates? Long term buyers might consider GOLD PAAS and other producers who are incorporating variable dividends into their work plans. A turn in metals prices can result in significantly higher dividend payouts.
AMEX:SLVLong
by AssetDesign
1
A SILVER underdog and a correction of the Gold to Silver ratioThe History of the Gold-Silver Ratio Citation: www.investopedia.com Historically, the gold-silver ratio has only evidenced substantial fluctuation since just before the beginning of the 20th century. For hundreds of years prior to that time, the ratio, often set by governments for purposes of monetary stability, was fairly steady. The Roman Empire officially set the ratio at 12:1. The ratio reached 14.2:1 in Venice in 1305 and remained at this level up until 1330 when it fell to 10:1. In 1350 it fell to 9.4:1 in some places across Europe. It climbed back to 12:1 in the 1450s. The U.S. government fixed the ratio at 15:1 with the Coinage Act of 1792. The discovery of massive amounts of silver in the Americas, combined with a number of successive government attempts to manipulate gold and silver prices, led to substantially greater volatility in the ratio throughout the 20th century. When President Roosevelt set the price of gold at $35 an ounce in 1934, the ratio began to climb to new, higher levels, peaking at 98:1 in 1939. Following the end of World War II, and the Bretton Woods Agreement of 1944, which pegged foreign exchange rates to the price of gold, the ratio steadily declined, in the 1960s and again in the late 1970s after the abandonment of the gold standard. From there, the ratio rose rapidly through the 1980s, peaking at 97.5:1 in 1991 when silver prices declined to a low of less than $4 an ounce. For the whole of the 20th century, the average gold-silver ratio was 47:1. In the 21st century, the ratio has ranged mainly between the levels of 50:1 and 70:1, breaking above that point in 2018 with a peak of 104.98:1 in 2020. The lowest level for the ratio was 35:1 in 2011. When Was the Gold-Silver Ratio at Its Highest? The highest the gold-silver ratio has been in recent history was in April of 2020, following the onset of the COVI19 pandemic, when the price of gold outpaced silver by more than 125:1. What Is the Historic Long-Run Average for the Gold-Silver Ratio? The long-run average gold/silver ratio is around 65:1 since the 1970s when the gold standard was abandoned. Historically, however, the ratio hovered more around 15:1. From Peter Frankopan's book "The Silk Roads" Chapter 12: The Road of Silver Page: 235 As Adam Smith later noted in his famous book on the wealth of nations, "the discovery of America and that of a passage to the East Indies by the Cape of Good Hope, are the greatest and most important events recorded in the history of mankind." The world was indeed transformed by the roads of gold and silver that opened up following Columbus' first expedition and Vasco da Gama's successful journey home from India. Page: 233 "In China, silver's value hovered around an approximate ratio to gold of 6:1, significantly higher than in India, Persia, or the Ottoman Empire; its value was almost double its pricing in Europe in the early sixteenth century." More Gold Than Silver Above-ground Citation: www.silverbullion.com.sg From the crustal abundance of precious metals, we can also see that the gold-to-silver ratio in the earth’s crust is about 1:19. This means that there is roughly 19 times more silver than gold in the ground. However, the mining gold-to-silver ratio is about 1:9 – only 9 ounces of silver are mined for every one ounce of gold. The reality from mining is a stark difference from scientific estimates. According to the annual survey reports from Thomson Reuters, there are 71,578 tons of ‘identifiable above-ground’ silver stocks. Compare this to the 187,200 tons of above-ground gold stocks. There is actually lesser identifiable silver than gold above-ground. Despite this, the gold-to-silver ratio, when comparing the prices of both metals, is about 1:70 at the time of writing. In other words, the value of an ounce of gold is equivalent to 70 ounces of silver!
AMEX:SLVLong
by jfs2152
3
$SLV three possible outcomes, all lead to lower prices?While many people have started to turn bullish on $SLV, stating it's undervalued (which it very well may be), looking at the chart tells a different story. If you zoom out, SLV looks to be correcting still. I see three possibilities in price action from here, and all lead to lower prices in $SLV. While there may be a squeeze higher in the short term, I can't really see price getting above the $24 level. If we were to reject there, or below that level, it sets up the stage for a sharp move lower, somewhere into the $13-16 range. I've put key levels of support on the chart on the way down. I see this move taking the next 2-3 years to fully play out, and if it does, that would be a great range to buy for the long term as I'd expect SLV to finally breakout of a 10yr+ bear market afterwards.
AMEX:SLVShort
by benjihyam
Silver Breaking SupportFor a few weeks now I have been watching the key Support of 19.42 on AMEX:SLV which corresponds to 21.00 on Silver Futures COMEX:SI1! : This is a long term Weekly Timeframe support established by the COVID Low through February 2021 High. I made a video about this High then because around the financial media there was a meme encouraging retail traders to BUY SILVER to create a SHORT SQUEEZE and stick it to the hedge funds (see Video link below)! My video went back through news article history to show that this same meme had been used to dupe Precious Metal Bugs into false breakouts 4 out of the 5 times in the last two decades. Q1 2021 was a good time to piggy back on the "Short Squeeze" meme and resurface this old one in Silver. Well, now the record shows that 5 out of 6 times the "Short Squeeze Silver" meme has failed as Silver continues to trade lower 17 months after the fact. This is why it is important to be highly skeptical of mainstream financial media. Often times (in my conspiracy theory) they are put out by PR departments of the funds themselves to manipulate market sentiment in some firm(s) favor. With this break of support Silver enters what I call "The Valley of Risk" where holders are faced with unknown losses as Supports become less clear. I am forecasting a fall into the mid-teens over the next few months. I have expressed this thesis in Put Spreads through the end of the year.
AMEX:SLVShort
by norok
7
SLV Next move, test of lowsSilver has been relatively tracking the S&P however there is a strong divergence now as money pours to stocks and silver is weak. On the closing basis, SLV failed a three day test of the low and is now destined for a retracement down to test the 3 week test of the low in a week or two. It's good to have some puts in the bank as this could get really ugly. Another Fed rate hike will hurt silver. But I see it at the end of the year at $32 with S&P at 3200
AMEX:SLV
by Glewis54