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Silver (Mini) FuturesSS

Silver (Mini) Futures

36.4250USDD
+0.1250+0.34%
Last update at Jun 12, 23:51 GMT
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Silver MCX: Bullish Momentum Builds Above Key Support LevelsTechnical Outlook for MCX Silver: MCX Silver has shown strong bullish momentum, bouncing off the 200-day moving average (MA) near the ₹79,601 level, signalling a potential trend reversal. The price action indicates that silver is consolidating above the 50% Fibonacci retracement level of ₹79,601, which aligns with the 200-day MA, adding further strength to this support zone. The recent recovery from this support level has pushed prices above the ₹81,000 mark, indicating the potential for further upside movement. The next immediate resistance is seen at the 61.8% Fibonacci retracement level of ₹83,300, a critical level to watch for a potential breakout. A sustained move above this level could open the door for a rally toward the ₹88,864 zone, corresponding to the 78.6% Fibonacci retracement level. On the momentum front, indicators are turning positive, with the RSI rebounding from oversold levels and the MACD showing signs of a potential bullish crossover. Additionally, the low volatility environment suggests that a significant move could be on the horizon, potentially favouring the bulls if key resistance levels are breached. **Action for Traders:** **Buy** at the current rate, with an **add above ₹83,300** (61.8% Fibonacci retracement level). Set a **stop loss at ₹79,600** (50% Fibonacci level). Target **₹88,600**, which aligns with the 78.6% Fibonacci retracement level. The trade is further supported by ongoing geopolitical tensions centred around Middleeast, which could boost precious metals. Additionally, the gold-silver ratio is likely to drop from the 89/90 level, suggesting that silver will outperform in the near term.
MLong
by KEDIA_ADVISORY
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Bottom or Bear Flag?Precious Metals, Today's Focus The markets are highly emotional and started Wednesday strong before ending the day in the red. The Dow Jones Industrial Average closed down 0.6%, while the S&P 500 slid 0.8%. The Nasdaq Composite ended the day down over 1%. Gold spent much of the day in positive territory, while Silver took clues from Copper, and futures prices seemingly folded into the close. Stock futures are pointing lower as investors await initial claims data today: 241k Exp vs. 249k last week. JPMorgan now sees a 35% chance the US economy will enter a recession this year. JPMorgan sees the Fed cutting rates by half a percentage point in September and November. Traders await wholesale inventory figures and a 30-year bonds auction of $25 billion. Today's Economic Focus Unemployment Claims - Forecast 241k Previous 249k (The number of individuals who filed for unemployment insurance for the first time during the past week) Final Wholesale Inventories m/m - Forecast 0.2% Previous 0.2% (Change in the total value of goods held in inventory by wholesalers) 30-y Bond Auction FOMC Member Barkin Speaks Gold Technicals - (December - Z) Gold futures continue to remain constructive as futures see a series of higher lows on the daily chart. Futures see their first major support at the 50 DMA at 2422.6, followed by psychological support at 2400 down to the trend reversal point at 2398.2. Futures will need to retrace the August 6 highs of 2459.5 in order to attack the bull trade trigger at 2482.0 Gold (Dec)—Daily stochastics are correcting, indicating a lack of fresh buying. DMI + remains narrowly over DMI -, indicating the market remains more neutral in posture. The average true range (ATR) is 42.0 per day. For Trend Traders Bias: Neutral/Bullish Resistance: 2482.0*** (Bull trade Trigger), 2500*** (Psychological), 2537.7*** (Contract Highs) Pivot: 2454-2450*** Support: 2422.6 (50 DMA)***, 2400**(Psychological), 2398.2*** (Bear Trend Trigger), 2345-2350*** Silver Technicals (September - U) Silver futures bounce in the overnight session after testing the 200 DMA at 26.58. The Gold/Silver ratio continues to uptick with 90:1 and will most likely need a bounce in copper inorder to play catch up on the Gold market. The first pivot is at 28, followed by the first resistance at 29.08. Traders must see a move above the 50 DMA at 29.94 to trigger ETF inflows and momentum traders. Silver (Sept) - Daily stochastics are correcting back into oversold territory. DMI - is above DMI +, and the ADX is rising, indicating that the market is back in a correction phase. The average true range (ATR) is 97 cents per day. For Trend Traders Bias: Bearish/Neutral Bear Trade Trigger: 27.975 Bear Trade Trigger Date: July 25 Trend Reversal Point: 29.85 Resistance: 28.00**29.08*** (July 25 High), 30.00***(Psychological), 29.91*** (50 DMA), 29.85** (Trend Reversal Point), 32.00-32.50**** Pivot: 28.00 Support: 26.58**** (200 DMA) Check out CME Group real-time data plans available on TradingView here: www.tradingview.com Disclaimers: CME Real-time Market Data help identify trading set-ups and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com *Trade ideas cited above are for illustration only, as an integral part of a case study to demonstrate the fundamental concepts in risk management under the market scenarios being discussed. They shall not be construed as investment recommendations or advice. Nor are they used to promote any specific products, or services. Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
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by Blue_Line_Futures
Long Term Silver Stacking Zone $20 to $15These line up with probable liquidity hunting zones on the monthly chart to fill in low volume notches on the volume profile and using fork extensions to estimate timing. The bottom end of the zone is less likely around $15 because the point of control is at $16.5 and would probably tend to soak up price tests through it. But the trade idea is still valid even if the POC doesn't provide support. The volume profile has a double distribution meaning disagreement among traders on this time frame. An exit point might be at $23 which is the next developing POC but if I stack some silver below $20 I will probably hold it for something more like $40 since silver has a tendency to produce short squeezes and shoot to the moon for a short burst and then collapse. Also holding physical silver (probably 10 oz bars) is a nice way to get a warm and fuzzy feeling of financial security so having a bit on hand is not a bad idea.
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by mljones
Silver8 6 24 in this video I just got gartley patterns which are fairly high probability reversal patterns according to gartley. the silver took a significant drawdown from its high and the breakout buyers on the way up could have lost as much as 7% or more on the correction lower. when a market takes this kind of a correction in a short period of time... it is very easy to think that the markets breaking down and going even lower. this is also an opportunity perhaps that those who missed the gold trade higher may have a chance to get in at this lower price before the market makes new highs. my guess is that there are some very good commercial Traders who are already in the market might see this as an opportunity to scale in an ad contracts if they're Trading the futures. I didn't show you the gold market but that market had a terrible move lower but on the same day it had a huge correction higher which is fairly predictable so if you had scaled in at the low you would have been 1000s of dollars higher from the low to the closing price where it has retested.
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by ScottBogatin
SIU2024So this is one of my favorite charts to trade on the daily basis, Futures gives great returns. I love scalping this. As of right now we are currently in a down trend but we have came down to a strong weekly area 29.045 which has been support since May of this year. We did see a major bounce right before reaching that price and is hold above another weekly. Sunday I will be looking to see how we open. If we get a closure above the double 4hr (29.450 / 29.475) zone I will be looking for it to continue to the next 4hr zone.(29.650). If we don't see that I would be looking for a break of that weekly (29.045). If we get a closure below that , we could see a quick drop I believe .
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by HighermindsXRP
Valuation Trade Setups: NVDA, AVGO, GOOGL, AMZN, PINS & SilverI have been filled long on some trades based on my valuation trading strategy. In this video I explain the strategy (conditional criteria, entries & money management) implemented with this weeks entries in NVDA, AVGO & Silver (as well as resting orders for GOOGL, AMZN & PINS). I also briefly explain the idea of "relative strength", which I applied this week when I decided to long Silver instead of Copper. Enjoy.
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by Tradius_Trades
Silver Analysis Silver - it's in good buying area , I have highlighted green boxes are extreme good zones to accumulate silver. If market permits , we can see tap of price in second green box, where you can accumulate more. Sell areas, I had highlighted in red boxes 88k-91k range. Price predictions, if we manage to move up 95k above then 105000 will be the top in no matter time. If you like my analysis, please do follow me to get instant updates about market in your email. DYOR.
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by AugustusAsir