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Silverlong

Silver possible +10% upside Hey guys, Silver looks to be bottoming out at this $22-22.3 range with a lot of wicks showing strong buying pressure. We have a previous support line there and a Fib retracement line there acting as strong support with a consolidation flag on the 1 hour time frame shown below developing a reversal trade setup. With the RSI showing buyers momentum increasing I believe we brake out of that pattern, which means this channel pattern on the daily will play out. The first leg reaching $24.5-24.6 where again we have a previous support line, 150 day MA and a Fib line acting a resistance and could bring a pull back before we resume past this point and push to the top of the channel. For now I'm only targeting this $24.6 price until we get closer to the further targets. 1.6% risk for a 9.5-10% reward I'm going to be buying warrants to make it around 40% profit to a 7% lose there abouts
TVC:SILVERLong
by jackwheeler
Silver Will have one more leg down before exploding higher Hey guys, Silver recently broke its big down trend and is starting to look like it will start bulling hard. But If you have looked back in the past 9 years silver seems to have some strong seasonality bulling around the end of November to start of December period so I believe we will see some weakness over the next two weeks build the rest of this possible head and shoulders before the bull run starts. Also backing this is my view on the US100 will fall after earnings and Silver and the US100 track quite well at times and when the Us100 declines silver either leads and is a great signal for shorts or follows I touch on this on my first short against the US100.
TVC:SILVER
by jackwheeler
1
Silver has been put in strong trading zone for long positionsHi First of all, I have to say that I'm a newcomer and this is my very first analysis based on what recently studied about price actions and trends, so I just put my chart here in order to exchange ideas and record my ideas. I've been watching the silver price for a week and as many of you know, I was really waiting for the 23$ to open a long position (which is equal to 61.8 fib level), but as it couldn't hold the price, I looked for another strong support at 22.6 wichs easily broke. So now the last support in this area is that low orange trend line. That trend line is so trustworthy cause it has held the price in the long term run. As the price reacted to this line, I was convinced to open a long position at 22.3$ (checked the pivot in the low time frames). The low trend line has also overlapped with the 71.6 fib level. I know it's not a relevant level for making a decision, but when you put all these data together, it seems logical to go for a long position. Note that if we lose this level of support, the next one would be 21.3$ ~ 21$. Continue on I see three minor resistance at 22.6$, 23, and 23.5 in the way of reaching 24$. The price will struggle with these lines, but at the end of the day, I expect that we reach that high. It's too soon to talk about what will happen after reaching to 24$ level, but it's crystal clear that this level is so critical and if the price break that resistance, we would see another attack to the (almost) ten years high line at 30 $
TVC:SILVERLong
by amirrezaabbasi08
Silver Miners: Blow-off 5th Wave Rally Imminent in SILJThe SIL and SILJ ETF's are both following a classic impulsive pattern that began with our low in the spring of 2020. After a powerful 3rd wave blow-off rally that peaked in the summer of 2020, a seemingly endless 4th wave correction has been grinding away all hope in the metals sector. However, we may have reason to be bullish as there are clear signs that the correction is over and that the 5th wave has commenced! Not only is there great confluence at the 0.382 ext targets overhead, but metals are famous for 5th wave extension blow-off tops which can drive up prices levels to the 0.618 ext and beyond! They are not easy to predict and take off parabolically, so it is prudent to leg-in carefully and methodically as a setup develops. We have similar setups developing in gold ( GDX / GDXJ ) and copper ( COPX ) as well! I use Elliott Wave analysis to project price levels for different assets and asset classes. EW is a form a technical analysis that is absolutely NOT based on fundamentals. Please be aware that this video is not intended to act as financial advice. I am not a trained or certified financial professional. You may invest based on a strategy tailored to your own skill and risk-tolerance levels. SIL & SILJ Component Stocks: SIL ETF - Global X Silver Miners ETF: WPM - Wheaton Precious POLY LN - Polymetal PAAS - Pan American Silver Corp SSRM - SSR Mining Inc HL - Hecla Mining Co FR CN - First Majestic S FRES LN - Fresnillo PLC 010130 KS - Korea Zinc Co Ltd BVN - Buenaventura-ADR PE&OLES* MM - Industrias Penol SILJ ETF - ETFMG Prime Junior Silver Miners ETF: AG - First Majestric Silver Corp PAAS CN - Pan American Silver Corp AUY - Yamana Gold Inc SSRM CN - SSR Mining Inc Com NPV MAG CN - MAG Silver Corp Com SIL CN - Silvercrest Metals Inc HL - Hecla Mng Co TRQ CN - Turquoise Hill Resources Ltd GATO - Gatos Silver Inc EXK - Endeavor Silver Corp #silver #gold #silversqueeze
AMEX:SILJLong
by Critique-al-Thinker
2
XAGUSD with a possible strong bullish playXAGUSD seems to have completed a head and shoulders pattern on its daily chart, it has also made extensive bullish moves which are now being supported at a resistance turned support. We strongly believe that XAG could become highly bullish based on everything we see in the charts right now. Some more downside could occur, but it shouldn't drop further than the 24,329 area. We have already started building a bullish position here and will be adding on it with every opportunity, unless we see reasons that our bullish analysis is fialing.
OANDA:XAGUSDLong
by PrimedGroup
1
Silver Price Forecast - Cup & Handle In SightToday I am review the Silver price (precious metal per oz) forecast. The multi-year chart is on an annual (12M) basis on a linear scale. After 40 years, the Silver price formed a cup and handle pattern since 1980. This is incredible. Unfortunately the price has not broken out yet and it seems in 2021, the price is still below the trendline of the pattern. As the price took 40 years to get to this point, it will take time for a breakout. Assuming the price breaks out, the target price from this pattern is about $60. That would be a 146% gain. This may take more than a decade to happen though. In 2011, the price created an all time high at around $50, but also created a shooting star candle which is bearish. This brought the price down to create the handle of the cup and handle pattern. Lastly, the Fibonacci Extension level brings the target price to 1.618, which is the Golden Ratio. Keep in mind that it took the price 40 years to get to this bullish pattern of cup and handle, so expect the price increase to take a very long to reach the target (unless of a catalyst event that may occur). Disclosure: This is just my opinion and not any type of financial advice. I enjoy charting and discussing technical analysis. Don't trade based on my advice. Do your own research! #cryptopickk
TVC:SILVERLong
by MillionaireEconomics