SLV trade ideas
SLV - Looking for possible topLooking at a weekly view, SLV might test the 14.80 level (and fail as always). Looking for a move down to 12 or lower by the end of June. Long my LEAPS and physicals but have been selling options a week or two out on every little pop. It's been paying off as SLV has been dead lately. Will sell June 19 $11 calls if we get up to 14.80
SLV Long - Look for price to rally quickThe SLV chart has clearly shown a break out. I think we should expect a quick rally in the near term.
SLV - finding FIB support!SLV has found FIB support from its high on Sep 2019 to its low last month, and from that swing low to the high it made last week. Bull flag consolidation pattern. RSI and MACD should move higher. Watching this one closely.
SLV - lot of work being done at this level!Looking for upside break-out soon. Feels like it's under accumulation. SLV playing catch-up. It's coming.
SLV - still something to prove!On a monthly chart SLV is holding critical support with some optimism as the economy opens. Not sure, but to me it looks like something is brewing. Downside or upside break? It's still in a long downtrend but holding support. MACD getting smoother and RSI looking favorable for a move to the upside. Large monthly red liquidity spikes should be followed by some green buying as markets open and things move toward some type of normalcy. I would expect SLV to get back to its pre-coronavirus price soon. Again, the GLD/SLV ratio is still historically very high and the chart there looks like the ratio wants to fall. My two cents on SLV.
slv to 9will silver hit 9 first then finally to low of 6.50 as dollar goes to 160 eventually within the next two years....
SLV - Another Head and Shoulders Brewing?On a daily view, the odds of hitting 12.85 look pretty good as this could be a head and shoulders neckline. Additionally, the 50% Fib retracement makes it a likely target. Selling some $13 calls as this rally tops.
WANT TO TRIPLE YOUR MONEY WITH SILVER? HERE IS THE LOCATION...Hello everybody,
I am seeing a huge opportunity for Silver bugs. It looks a lot like a silence before the storm for the upside. If Gold ends up going ATH, i think there will be more money moving into commodities such as silver as well. I believe this may be the Altcoin idea you have been waiting for. It almost looks like 2017 Ethereum buying opportunity.
DO YOU OWN RESEARCH. IF BULL IS ON, WE WILL BREAK THESE RESISTANCE. ALWAYS HAVE STOPS. DONT BET MORE THAN 5%. PLAY FROM A POSITION OF STRENGTH.
Best wishes
Sincerily
Bo Bugra Sukas
SLV - still lagging GLDWhereas GLD and GDX have returned to pre coronavirus highs, SLV has lagged getting back to where it started. I expect that this will correct shortly. GLD/SLV ratio still in correction mode. SLV should see a spike that will close the gap in the $15.50 area.
SLV - Spike in Option Premium TodayDespite a low volatility day in silver (while gold broke into highs) premiums in SLV options expanded noticeably today. Always a thought that silver won't start soaring until gold makes new highs. Let's see what happens next.
Something BIG is brewing in metals. Deflation may just be getting started. From a technical stand point, SLV could see the $10 low tested recently.
SLV DAILY WEDGE BREAKOUTBuyers have come into market and broke daily upper trend line of wedge pattern, since broken supply level may retest now demand before heading north
SLV - what's next?SLV traded down to $10.86 last month. It had not seen those levels in more than 11 years. After making a high of $48.65 in 2011, SLV ultimately traded down to $13.04 in December 2015 (orange support line). A rally attempt in the first half of 2016 to take out the downtrend line from 2014 (orange resistance line) failed and the $13.04 low was successively tested twice in late 2018 before SLV tried to again attack the downtrend line from 2014. Ultimately this orange triangle failed with the coronavirus events and the $13.04 low gave way. Volume spiked at the low and is much higher than the sell off that preceded the 2008-2009 sell off. MACD and RSI made lows not seen in many many years. As a result of this sell off the gold/silver ratio spiked to all time highs by a long shot. It still remains extremely elevated at 111 as gold has made it back to its highs pre coronavirus. I expect that SLV will make up this underperformance in the near term. MACD and RSI favorable. We are at about a 50% retracement from the recent low to its high immediately preceding the sell off. This should correct sooner rather than later.
Silver - Island ReversalNow, this one is the flawless pattern!
Island Reversal on SLV
Bullish on silver, long term.
SLV: It won't be long before it's tarnished!Sorry, silver will be falling off a side of a cliff, along with the rest of the economy! Once people find out it's worthless, they will be casting it into the streets! Maybe it'll come back some day, but it could be generations before that happens!
It's been generations since people used silver as money, and it's not coming back! People used to use floppy disks and cassette tapes too! We're much more likely to see EBT ration cards than a silver standard!
