Silver hit our target and ready for the next rally to $27.00 in 2022, Silver hit our target price of $24 this was due to a break up and out of a Triple Bottom (3 Rounding Bottoms).
Now we see a new Bullish Diamond formation on Silver.
We just need to wait for breakout
Target $27.00
Fundamentals:
Analysts predict that gold and silver will perform well in the new year as the Federal Reserve is expected to cut interest rates in the second half of 2023. This is due to the belief that a recession is imminent, which will reduce inflationary pressures and lead to falling interest rates. Chief North America economist Paul Ashworth of Capital Economics stated that despite the Fed's current hawkish stance, they still expect interest rates to decline by the end of 2023.
Silvercharts
CFDS ON SILVER52-Week High 27.500
14 Day RSI at 80% 25.112
Pivot Point 3rd Level Resistance 24.219
23.890 3-10 Day MACD Oscillator Stalls
Pivot Point 2nd Level Resistance 23.719
23.642 61.8% Retracement from the 52 Week Low
Pivot Point 1st Resistance Point 23.379
High 23.220 High
1-Month High 23.220
13-Week High 23.220
Last 23.038s Last
14 Day RSI at 70% 22.958
22.879 Pivot Point
22.696 14-3 Day Raw Stochastic at 80%
Previous Close 22.637 Previous Close
Silver Analysis 01.01.2023Hello Traders,
welcome to this free and educational analysis.
I am going to explain where I think this asset is going to go over the next few days and weeks and where I would look for trading opportunities.
If you have any questions or suggestions which asset I should analyse tomorrow, please leave a comment below.
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You can also check out my previous analysis of this asset:
Silver: Next Up 3! 😎The following developments for the silver price should be characterized by further increases until the green wave 3 is completed and forces the bulls to rest a little bit. However, a more prominent 3rd-degree-wave, namely the blue wave (iii), should be completed between $26.95 and $29.06, before pushing the course back down South. In any case, movements below $22.19 would force us to switch to a more bearish outlook.
Is Silver preparing for long bull run?Comparing the last 50 years of the Silver chart along with the 80's market top along with the 2011 market top. We can see a clear cup and handle 42 years in the making.
Price action is laid over 2 indicators
The Extended Golden Ratio Multiplier
The CM Ultimate MA MTF
The focus of this chart is the pink fib line of the Multiplier and the green & red CM Ultimate MA. I have the focus area circled with what seems to be the interesting point of the chart and indicators. In 1987 the price of silver tired to push back through the MA lines but was rejected and in 89 the pink line followed and kept falling. in 2019 and 2020 try's the same move but this time price action pops through then corrects and so far seems to have found support on the MA lines. At the same time the pink line is crossing the now red CM Ultimate line which historically has happen every time price action has made moves up for months and months afterwards.
We also cannot skip or not touch upon the Dragonfly doji caused in the first half of 2020. This too is usually a very indicator that price action could be moving up over the next few candles and beyond.
Although Gold to me is showing some signs of weakness, Silver to me at least from this chart looks like a very bullish for possibly next few years. Let me Know what you think down below.
Thanks for looking
WeAreSat0shi
Stay Blessed!
Silver quick lookTechnically, silver will test strong support, as what it breached, we may see it again at 22 levels.
The four golden rules of trading
1 Don't be greedy
2 Always use stop loss
3 Never add other positions to the losing positions
4 Use a suitable lot for your account
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Long Silver after reaching support zone.For next week, looking to see Silver go to Buy zone at 18.5 around.
After what we should see Bankers get long on Silver.
The perfect call will be with price falling on that zone...and they buy silver.
For the stop, it will be of course few pips lower that price failure or zone buy zone.
Buying via Future contracts 03-23, so I don't have to pay Swaps.
Silver Levels & Strategy for next few daysDear traders, I have identified chart levels based on my analysis, major support & resistance levels. Please note that I am not a SEBI registered member. Information shared by me here for educational purpose only. Please don’t trust me or anyone for trading/investment purpose as it may lead to financial losses. Focus on learning, how to fish, trust on your own trading skills and please do consult your financial advisor before trading.
Sagar Bhai, Silver had an excellent run in last 1 month from below 55K level to 63K plus level. Silver has made LH-Lower High pattern on chart, trading below VWAP. Showing sign of tiredness after decent up move. Silver is likely to consolidate or correct from this level. This is a good time to book profit. 59000 to 60000 should be good range to enter in long position for few months. We are likely to get a chance near next US FED hike when US Dollar Index will get stronger. Please review & share your thoughts as well.
Silver vs CPI numbers !Silver confirm ( bearish rectangular)
CPI TOMORROW
if someone think i hate silver , he is absolutely wrong .
TREND IS YOUR FRIEND
Rectangular bearish pattern mean we can go down same percentage of consolidation range percent
CPI with 75 ppt rise 18 $ in silver is normal
Good luck all!