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Silver FuturesSS

Silver Futures

154.0JPYD
+3.0+1.99%
At close at Apr 24, 01:55 GMT
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Silver Weekly Chart Forming Inverse Head and ShouldersThe red outlines the inverse head and shoulders in the silver futures weekly chart. The dotted line is the neckline. The oval represents where, if silver can CLOSE a weekly candle above the area near $26, the pattern will be triggered. With perhaps a 70% or higher success rate, the probability would be that silver would run up to a measured move from the inverse head around $18 to the neckline around $26. The difference is $8, adding that to the $26 equals the target of $34, which could easily overrun to maybe $36. (PS, often once the neckline is breached, the price will pull back to the neckline again before heading higher.)
CLong
by Bry777
SILVER FUTURES Stock Chart Fibonacci Analysis 070923 Trading Idea 1) Find a FIBO slingshot 2) Check FIBO 61.80% level 3) Entry Point > 23/61.80% Chart time frame : B A) 15 min(1W-3M) B) 1 hr(3M-6M) C) 4 hr(6M-1year) D) 1 day(1-3years) Stock progress : A A) Keep rising over 61.80% resistance B) 61.80% resistance C) Hit the bottom D) Hit the top Stocks rise as they rise from support and fall from resistance. Our goal is to find a low support point and enter. It can be referred to as buying at the pullback point. The pullback point can be found with a Fibonacci extension of 61.80%. This is a step to find entry level. 1) Find a triangle (Fibonacci Speed Fan Line) that connects the high (resistance) and low (support) points of the stock in progress, where it is continuously expressed as a Slingshot, 2) and create a Fibonacci extension level for the first rising wave from the start point of slingshot pattern. When the current price goes over 61.80% level , that can be a good entry point, especially if the SMA 100 and 200 curves are gathered together at 61.80%, it is a very good entry point. As a great help, tradingview provide these Fibonacci speed fan lines and extension levels with ease. So if you use the Fibonacci fan line, the extension level, and the SMA 100/200 curve well, you can find an entry point for the stock market. At least you have to enter at this low point to avoid trading failure, and if you are skilled at entering this low point, with fibonacci6180 technique, your reading skill to chart will be greatly improved. If you want to do day trading, please set the time frame to 5 minutes or 15 minutes, and you will see many of the low point of rising stocks. If want to prefer long term range trading, you can set the time frame to 1 hr or 1 day.
C
by fibonacci6180
Silver Price Analysis: Exploring Resistance, CP, Volume, Events Upon analyzing the chart, it is evident that silver has been trading within a parallel channel for almost a year, indicating a well-defined price range. In the previous trading session, the price of silver reached the resistance line of this channel. For short-term traders, a critical resistance level to watch is 74060. If this level is not surpassed convincingly, it could lead to a potential downturn towards the control price (CP) line. It is worth noting that silver has yet to test the CP line and the 100-day moving average (MA) successfully. Taking into consideration the parallel channel pattern, it suggests that silver prices may experience a decline towards levels around 73000 , 71800 , and 71360 . Furthermore, volume plays a significant role in the current scenario. Short-term investors should be cautious and await a successful breakout of the channel for a potential upside move towards price levels of 74900 , 75560 , and even exceeding 76800 . Monitoring the volume and price action closely will provide further insights into the market direction and potential trading opportunities. As a market participant, it is important to closely monitor the following market-moving events, as they have the potential to impact the prices of gold, silver, crude oil, and natural gas: Monday, Jun 12, 2023 23:30 Federal Budget Balance (May) and Note Auctions: These events have a medium impact and can provide insights into the economic health of the country, potentially influencing investor sentiment and market movements. Tuesday, Jun 13, 2023 11:30 Employment & Unemployment, Avg Earning Index, Claimant Count Change: These medium-impact events provide crucial data on the labor market, which can have a significant effect on commodity prices. 18:00 CPI and Core CPI: These high-impact events reveal the inflation rate, which is closely watched by traders as it can impact the value of commodities. Wednesday, Jun 14, 2023 02:00 API Weekly Crude Oil Stock: This medium-impact event discloses the inventory levels of crude oil, which can influence crude oil prices. 18:00 PPI and Core PPI: These medium-impact events measure changes in producer prices and can affect commodity prices. 20:00 Crude Oil Inventories: This high-impact event reports the weekly changes in crude oil stocks, which can impact the price of crude oil. 23:30 Fed Interest Rate Decision & Projection, and FOMC Economic Projections & Statement: These high-impact events provide insights into the monetary policy decisions of the Federal Reserve, which can have a broad impact on commodity markets. Thursday, Jun 15, 2023 00:00 FOMC Press Conference: This medium-impact event involves a press conference following the Federal Reserve's interest rate decision, providing further context and potential market-moving statements. 18:00 Import Prices MoM & YoY: This low-impact event reports changes in import prices, which can indirectly affect commodity prices. 20:00 EIA Natural Gas Stocks Change: This low-impact event reveals the weekly changes in natural gas inventories, potentially impacting natural gas prices. Friday, Jun 16, 2023 01:30 Net Long-term TIC Flows: This low-impact event discloses the flows of international capital, which can have an indirect impact on commodity markets. 17:15 Fed Waller Speech: This low-impact event involves a speech by a Federal Reserve official, which may provide insights into monetary policy and influence market sentiment. 19:30 Michigan Consumer Sentiment: This medium-impact event measures consumer confidence, which can affect demand for commodities. Monitoring these events will help traders and investors stay informed about potential catalysts that can impact the prices of gold, silver, crude oil, and natural gas.
MLong
by freestocktips
Silver may shine above mid channel ResistanceSilver futures tried to jump unsuccessfully above the Mid channel line resistance but has been unsuccessful so far. Closing above 74324 will unleash a new bull run in Silver which might have resistances at 76341 and 78000+. The two resistances can also be considered next targets in case of closing over 74324. In case the mid channel line proves to be potent resistance the supports for Silver future are at 72850 and 72490 (Major Support). If 72490 is broken by any chance next supports are at 70174 and 68017.
MLong
by Happy_Candles_Investment