SILVERSilver is in this bullish channel, its price has positively tested the support giving a high probability of a new wave up towards at least the 26 zone if the bottom of the channel remains solid.
SIL1! trade ideas
Silver Mini - LongSilver Mini - If it is able to hold 65240 - 64330 level, we could see fresh uptrend. One can enter @ 66400 level with SL @ 65200. If this comes to 65300-65200 level, this will be a perfect beach trade entry in the Nimblr concept. Alternatively one can put a SL entry @ 65300 level and once triggered can keep a SL of 64300
Silver & Gold big move up incoming... maybe even some todayI think the 1-2 1-2 setup here in Silver & Gold is reasonably probable to trade and is quite bullish. Inflation tends to agree, as do many analysts.
The very short term setup has a 1-2 as well, at least in gold. It looks to me be very solid agreement at this very moment in time to be entering the 3rd wave across multiple degrees.
The market also just took a massive stab lower and has now reversed it in about the same amount of time, and this can often signal a reversal... in this case metals have been chilling for a few days, hopefully the chill is over.
Bought some $30 February calls, now we see what happens!
Silver The weekly forecast is a little hazy, as prices have been trading in a range of 67300 - 65800 for the past three trading sessions. On the daily chart, the RSI is indicating negative divergence, which could limit the upside rise shown in above chart. Above 67400, further upside is possible, maybe leading to 68800 levels. On the other hand, failure to breach the previous week's high could result in some selling pressure towards 64000, below the main support of 65800.
Major support – 65900, 63900
Resistance – 67400, 68800
It will be a volatile session until next week, with prices predicted to trade on both sides until they stay inside the provided range. As major outlook looks extremely bullish, some downside moves near 64000 can be consider as a great opportunity to accumulation.
Looking at history, silver appears to have a strong seasonality bulling around the beginning of December, so I believe we will see some weakness over the next two weeks provide great opportunity to buy for next bull run.
$SIlver is off to the moon? Let's see! Godawful continuation patIMHO it is NOT a bullfalg. IT's a continuation pattern with two massive rugpulls to reset fo rth next leg up.
THe S/R lines drawn that go off-screen are historic ones and they are POWERFUL. Watch for them to be acknowledge and crawled amongst.
The Situation In Precious MetalsThis is going to be a dead-simple, quick idea. I've been looking at Precious metals for a while now, and silver in particular. It appears that there is a significant amount of demand for silver near 22, and a large supply of silver between 28-29.
Right now we are trading in the middle of this range, but with inflation picking up and the recent break higher above the short term supply zone near 24.50, we may have increased potential for upside into the end of the year.
I'm looking at some highly levered miners as a derivative to this play (I'm net long $HL derivatives) but nothing else as of yet. I may also look to get short some $TIPS in combination with this off of the massively deflationary UMCSI 66 print this morning.
Silver Playing A PullbackIn this update we review the current price pattern in Silver and identify a high probability trading opportunity
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