SIU1! trade ideas
BUY SILVER /SISilver has been on a downtrend for quite some time. It looks like silver wants to make a pullback into the channel.
Silver Trades To TargetIn this update we review the recent price action in the Silver futures contract and identify the next high probability trading opportunities and price objectives to target
Silver Losing Its ShineIn this update we review the recent price action in the Silver futures contract and update the bearish trading strategy and price objectives to target
Silver Micro Great Opportunity for SellMCX:SILVERMIC1!
below 58600 you can short there are 2 supports near 56k and 51k so we can expect 1500-2000 points
what are your thoughts please comment below
SILVER FUTURES (Sl1!), H1 Potential for Bullish MomentumType : Bullish Rise
Resistance : 22.565
Pivot: 21.495
Support : 20.840
Preferred Case: On the H1, price is moving above the ichimoku cloud which supports our bullish bias that price will rise to the pivot at 21.495 where the swing high resistance and 161.8% fibonacci extension are. Once we have upside confirmation, we would expect bullish momentum to carry price to intermediate resistance at 21.955 in line with swing high resistance and 127.8% fibonacci extension . Should price break intermediate resistance, we would have a bullish bias that price will rise to 1st resistance at 22.565 where swing high resistance is.
Alternative scenario: Alternatively, price could drop 1st support at 20.840 in line with the pullback support and 78.6% fibonacci projection .
Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on silver .
Silver ShortLooking at the chart and In my opinion one should short Silver. Because it might lose it value.
Silver chart analysisThe failure of the silver price to make a break above $ 22.00 at the beginning of the week started the bearish trend, which this morning formed a new lower low at $ 20.75. Early this morning, the price of silver broke the support to $ 21.00 and fell to $ 20.75. The pressure on the price is still very present on the chart, and we will likely see the continuation of the bearish trend towards the $ 20.50 level. A break below this level brings us down to the May support level at $ 20.42. For the bullish option, we need a new positive consolidation and a return above the $ 21.00 level. It is then necessary for the price to remain at that level, forming a new higher low from which a new bullish impulse would begin. Potential higher targets are $ 21.25 and $ 21.50 levels.
SILVER FUTURES (SILVER1!), H1 Potential for Bearish MomentumType : Bearish Momentum
Resistance : 61692
Pivot: 60565
Support : 59367
Preferred Case: On the H1, price is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 60565 in line with the pullback resistance to the 1st support at 59367 in line with the swing low support and 61.8% fibonacci projection .
Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 61692 in line with the overlap resistance, 61.8% fibonacci retracement and 78.6% fibonacci projection .
Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on silver .
Silver chart analysisSince the price of silver failed to exceed $ 22.00 yesterday, a pullback followed, which formed a four-day lower low at $ 21.25. Since then, the price of silver has recovered to $ 21.45. We should be at $ 21.50 soon, where we come to moving averages, and we need a break above to return to the positive zone. Our targets are $ 21.60, $ 21.75 and $ 22.00 resistance zone. We need continued negative consolidation and a pullback to this morning’s low for the bearish option. A break in gas prices below this support level would bring us down to the $ 21.00 level, where we would test last week’s low.
Silver 20.85 Line In The SandIn this update we review the recent price action in the Silver futures contract and identify the next high probability trading patterns and price objectives to target
SILVER FUTURES (SILVER1!), H1 Potential for Bearish MomentumType : Bearish Momentum
Resistance : 61692
Pivot: 60565
Support : 59367
Preferred Case: On the H1, price is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 60565 in line with the pullback resistance to the 1st support at 59367 in line with the swing low support and 61.8% fibonacci projection.
Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 61692 in line with the overlap resistance, 61.8% fibonacci retracement and 78.6% fibonacci projection .
Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on silver .
Silver: CircuitousSilver seems to prefer things a bit more complicated, and thus has made a detour back above the mark at $21.25. However, as long as it stays below the resistance at $22.56, we still expect silver to directly continue the descent below $21.25 and into the lower orange zone between $18.78 and $16.88, where the overarching downward movement should end. There is a 38% chance, though, that silver could expand the detour above the resistance at $22.56. In that case, it should rise until the upper edge of the orange strip between $22.74 and $23.46 before resuming the descent.
SILVER FUTURES (SILVER1!), H1 Potential for Bullish MomentumType : Bullish Rise
Resistance : 62338
Pivot: 61354
Support : 60446
Preferred Case: On the H1, price is moving above the ichimoku cloud and has broken out from descending trendline which supports our bullish bias that price will rise from the pivot at 61354 where the swing low support is to the 1st resistance at 62338 in line with the swing high resistance,100% fibonacci projection, 78.6% fibonacci retracement and 161.8% fibonacci extension .
Alternative scenario: Alternatively, price may break pivot structure and drop to the 1st support at 60446 in line with the overlap support and 61.8% fibonacci projection.
Fundamentals: As investors are seeking to hedge against inflation , we have a weak bullish view on silver .
Silver About To Break SupportSilver futures COMEX:SI1! are right now holding a key Retracement level that aligns with the 2016 Major High around 21.00. This represents price holding support after failing many attempts to reach and break the highs around 30.00. Failing to hold and breaking this support would likely continue the bearish trend down into the teens prices below 19.90. Given that the last attempt to reach 30.00 fell short I put the probability high that such a Support break is coming.
Getting excited for Silver?So with much elation those that were pumping silver over the weekend cheered a 7% gap open on futures. However, this move fails to break the most recent high. If traders are looking for technical confirmation first then this would be the high to mark as the breakout level. Jumping in at the open Monday would be doing so at a dangerous level.
SILVER FUTURES (SILVER1!), H1 Potential for Bearish MomentumType : Bearish Momentum
Resistance : 61225
Pivot: 60429
Support : 58199
Preferred Case: On the H1, price has broken out from the ascending channel and is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 60429 in line with the overlap resistance and 23.6% fibonacci retracement to the 1st support at 58199 in line with the swing low support and 61.8% fibonacci projection .
Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 61225 in line with the overlap resistance, 50% fibonacci retracement and 78.6% fibonacci projection .
Fundamentals: No major news
Forecast № 18 # SILVER I assume a continuation of the downward trend (downtrend) if the price level 1 breaks through.
SILVER FUTURES (SILVER1!), H1 Potential for Bearish MomentumType : Bearish Momentum
Resistance : 62362
Pivot: 61483
Support : 60211
Preferred Case: On the H1, price has broken out from the ascending channel and is moving below the ichimoku cloud which supports our bearish bias that price will drop from our pivot at 61483 in line with the overlap resistance to the 1st support at 60211 in line with the overlap support, 61.8% fibonnaci retracement and 78.6% fibonacci projection .
Alternative scenario: Alternatively, price may break through pivot structure and rise to the 1st resistance level at 62362 in line with the swing high resistance and 61.8% fibonacci projection .
Fundamentals: The outcome of the US CPI would confirm if inflation remains on a rising trend or if it is topping out which gives us a mixed bias on silver.
