Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Silver Attempts to Salvage Upward Momentum on Friday
By: Christopher Lewis | June 14, 2024
• The silver market has bounced a bit from the 50-Day EMA on Friday, as the markets have pulled back for some time. This market is one that continues to look at the $28.50 level as important. Also, we have to pay close attention to the $30 level above.
Silver Markets Technical Analysis
The silver market has dropped to the 50-day EMA over the last two trading sessions and now it looks like we are starting to see a little bit of recovery here and perhaps an attempt to get back towards the $30 level. The $30 level of course is a large round psychologically significant figure that a lot of people will be paying attention to. So therefore, I think you’ve got a situation where you were just simply looking to try to push this market there.
The $28.50 level is a support level that I think is crucial. It is a resistance barrier from previous. So, I do think a certain amount of market memory comes into the picture here. The pullback is fairly steep, but then again, the shot higher was fairly steep as well. You could make an argument for, you know, some type of Fibonacci retracement either from the bottom, basically lining up with the $28.50 level as the 38.2 Fibonacci retracement level, or you can look at the 61.8% Fibonacci retracement level from the shot higher when we took off from the $26 level.
That being said, this is a market that I do think favors the upside overall, and we will have to look at it through that prism. I have no interest in shorting silver, at least not until we break down below the $26 level, which at that point we would be challenging the 200 day EMA. So, it remains buy on the dip, but I think it’s very noisy. It’s not something that’s going to be easy to hang on to.
Read Full Story »»»
DiscoverGold
$SILVER $SPX Ratio - Update
By: Sahara | June 14, 2024
• $SILVER $SPX Ratio - Update
Hope was for a 'W' Shaped Bottom. Yet is still struggling at the Mthly 50/MA.
Also the latest move up is a smaller form of that up move from 2000 'Broadening Diagonal' Where we can see how deep the retrace goes, nearly 88/Fib. Can be as much as 99%..
Read Full Story »»»
DiscoverGold
Been like this and getting worse for decades. Physical is the only way. Paper game is just a paper game, don’t mean shit to a stacker. True stacker only cares about GSR and never profits into any medium of exchange. Asset for asset. $27-$28 should be the support in this cycle looking at chart in my opinion.
is there nobody else out there that lost their shirt trading this and is super pissed at just how over manipulated this is.. i feel like its a war between the fed and china at this point...
volatile to the downside on precise strikes with follow through.. this is whack b.s. the banks r in on it.. theyre absolutely insider trading this against the public..
this is no way should be this volatile... we should have seen 34-35 days ago if it werent for the endless blatant shorting... they r runing this market.. the only answer will be to stop trading their fake market and only hold physical..
pure manipulation. organized crime at the highest levels of the fed reserve.. there is nobody else with deep enough pockets and a motive to cause this.. they have literally destroyed people lives in the silver futures market with these moves that r baffling and make no sense to say the least..
Silver $SLV - Nice turn after tapping the Lwr 'Flag' Line
By: Sahara | June 12, 2024
• $SILVER $SLV - Nice turn after tapping the Lwr 'Flag' Line.
Came within a whisker of my Wave-C Target. Maybe close enough? Will need to recover and hold the 150/MA & pop the 'Flag to be more sure...
Read Full Story »»»
DiscoverGold
Silver Bounces Off Support Within a Retracement
By: Bruce Powers | June 10, 2024
• Silver hit a low of 29.12 last Friday, reaching an ABCD pattern target before beginning a bounce from support levels on Monday.
Last Friday silver retraced to a low of 29.12 to reach an extended downside target of 29.15 from a declining ABCD pattern. During Friday’s decline the prior retracement low of 29.38 failed to maintain support, leading to another and more direct test of support around the 50% retracement level of 29.27. The 29.15 price target was derived from a falling ABCD pattern with the CD leg of the pattern extended by 127.2% of the price change seen in the initial AB leg.
Bounce Off Friday Support
Today, Monday, silver held above last week’s support and began a bounce to retrace Friday’s wide range decline. It next heads up into a price range from around 29.97 to 30.05, derived from last Thursday’s low and a previous swing low, respectively. The 20-Day MA is up at 30.61. Given how far silver has fallen relative to its 50-Day MA and uptrend line (low end of rising trend channel), it wouldn’t be surprising to see silver test those lines as support before the current retracement is complete.
50-Day Trend Support at 28.78
The 50-Day MA is currently around 28.78. A little below the uptrend line is a price range from 28.50 to 28.30 consisting of the 61.8% Fibonacci retracement and the 161.8% extended target for the declining ABCD pattern. Notice that the 50-Day line is now aligned with a prior swing high from May 18 at 28.75.
Since the price of silver rallied back above the 50-Day MA on March 1, the line was successfully tested as support once in early-May. Both lines mark a similar price area and therefore they can be watched together as an area of possible trend support, along with the Fibonacci confluence zone noted above.
Retracement Dominates
On the upside, a definitive breakout above last week’s high of 31.55 would be needed for bullish confirmation at this point. Silver triggered a bullish trend continuation signal for the long-term uptrend a month ago and has further confirmed strength since then. It is anticipated to continue to progress that uptrend once the current retracement is complete. What is more uncertain is the ending dynamic of the retracement prior to a bull reversal that takes silver back to test recent highs.
Read Full Story »»»
DiscoverGold
Silver Continues to Look Dangerous
By: Christopher Lewis | June 10, 2024
• The silver market bounced a bit in the early hours of Monday, as the market continues to see a lot of questions being asked about the Federal Reserve and its monetary policy going forward.
Silver Markets Technical Analysis
Silver rallied a little bit during the early hours on Monday as we continue to see a lot of volatility in what I suspect will continue to be an extraordinarily volatile market. Keep in mind that silver is extraordinarily followed under the best of terms. And at this point in time, we are not in the best of terms when it comes to clarity. The $30 level above should continue to be a little bit of a barrier. So, if we could break above $30, I think that means that the market could really start to take off to the upside.
And with that being the case, breaking above the $30 level allows the market to go looking to the $31.50 level. If we break down from here, then we could have a look at the 50 day EMA, which is just above the $28.50 level, which of course is an area that previously had been significant resistance. So, a bit of market memory should come into play there.
Keep in mind that silver is extraordinarily sensitive to interest rates, and a lot of the selling that we had seen on Friday was due to the jobs number being hotter than anticipated in the United States as people are concerned about whether or not the Federal Reserve will continue to stay tighter for longer, something that’s probably very possible.
That being said, Wednesday has an FOMC meeting, so keep that in mind because it could have a major influence on what happens with silver next. After the beating on Friday, we are still technically bullish. And at this point in time, I think it’s probably a market that you’re looking for buying opportunities but expect a lot of noise for the next couple of days.
Read Full Story »»»
DiscoverGold
Silver $SLV $2.5+ Million Put Seller (Sold to Open)
By: Cheddar Flow | June 10, 2024
• $SLV $2.5M+ Put Seller (Sold to Open)
This whale is looking to collect the premium on these contracts
*At the bid*
Read Full Story »»»
DiscoverGold
Silver $SLV - Panic over Fridays drop in Silver. 60% stretch from 252/MA is normal b4 going hyper extended, here at 48%
By: Sahara | June 9, 2024
• $SILVER $SLV - Panic over Fridays drop in Silver.
Esp after a promising hold-n-turn of the 4Hr 150/MA shown prior. Yet stepping back it's just a blip to a 'Fan-Line' in the 'Bowl'.
60% stretch from 252/MA is normal b4 going hyper extended, here at 48%. Eye the McD for Signal...
Read Full Story »»»
DiscoverGold
Silver $SLV - At the Lwr-Line of that Bull 'Flag'
By: Sahara | June 9, 2024
• ... $SILVER $SLV - At the Lwr-Line of that Bull 'Flag'.
Close to my C-Target into the $28's...
Read Full Story »»»
DiscoverGold
Silver $SLV - Pushing up from this Lwr 'Flag' Line & 4Hr 150/MA
By: Sahara | June 6, 2024
• $SILVER $SLV - Latest
Pushing up from this Lwr 'Flag' Line & 4Hr 150/MA.
Note the 'Inv H&S' that points to the B/Out Line...
Read Full Story »»»
DiscoverGold
Are Silver Prices on The Verge of a Major Breakout?
By: Phil Carr | June 5, 2024
• With so much hot money chasing the Commodities Supercycle – there is no denying the entire sector presents a hotbed of opportunity for traders looking to achieve extraordinary gains.
Gold and Copper Reach Unprecedented Heights, Silver Set to Follow
After an epic run that has seen Gold and Copper prices set new all-time record highs not once, not twice, but on multiple occasions, so far this year – analysts at GSC Commodity Intelligence have officially dubbed 2024 “The Year of The Metals”.
To quote GSC Commodity Intelligence – “Gold and Copper’s record-breaking run over the last two consecutive quarters in a row has been nothing short of impressive. Never before in history have we seen the metals score multiple all-time highs in such a short space of time”.
While there remains a growing buzz of excitement surrounding Gold and Copper with prices topping $2,450 an ounce and $11,104 per ton respectively, for the first time ever – traders are starting to shift their attention to Silver on rising expectations that the grey metal will be next to hit new record highs.
Silver Shortage Intensifies in 2024 Amidst Surging Industrial Demand
According to the recently released World Silver Survey – 2024 marks the fifth consecutive year of a Silver shortage – with this year in particular being one of the most intense on record.
Silver demand exceeded supply in 2023, resulting in a structural market deficit of over 142 million ounces. The forecast indicates that the annual production shortfall will nearly double to 265 million ounces by the end of 2024, due to surging industrial demand.
Historically, half of the demand for Silver has been industrial and the remaining half has predominantly been investment related. However, in recent years, the balance has shifting in favour of industrial demand, which currently accounts for 64% of the total global demand for Silver. Put another way, that’s a whopping increase of 19% from a year ago.
And this trend shows no sign of slowing down anytime soon.
Catalysts Behind Historic Squeeze in Silver Supply
The major catalysts behind an historic squeeze in Silver supply include the Green Energy Transition, with Solar Energy playing a pivotal role. Alongside unprecedented demand from Artificial Intelligence and the EV sectors – which are undoubtable three of the fastest and biggest growing industries in the world today.
These worsening supply and demand dynamics have sent Silver prices on a parabolic run since October last year, rallying from just under $20 an ounce to a 12-year high of $32.50 an ounce in May – notching up an impressive gain of over 62%, over a seven-month stretch.
Now Silver’s stealth bull run has come out of hiding – the precious metal is making headlines and capturing the world’s attention like never before.
The last time Silver prices broke above $32 an ounce – the precious metal went onto trade at $50 an ounce in the space of 100 days. If this is a leading barometer for predicting the future performance of Silver prices, then this ultimately means one thing.
Higher Silver prices are coming!
Read Full Story »»»
DiscoverGold
Silver $SLV - Hows it looking?
By: Sahara | June 4, 2024
• $SILVER $SLV - Hows it looking?
Well we popped out from the Dn/Trend Channel from 2011, but couldn't hold, and so closed back within. Yet, Line Chart stopped at the Uppr-Parallel, so no false B/Out for me as yet.
'Broadening' Still In-Play (Blue). And view this as a 'Handle'...
Read Full Story »»»
DiscoverGold
Silver Bullish Reaction Signals Potential Trend Strength
By: Bruce Powers | June 3, 2024
• Silver's bullish reaction today avoided a deeper pullback, finding support at 29.79 and potentially signaling the end of the retracement.
Silver dropped below the purple 20-Day MA briefly today before finding support at 29.79 and bouncing back above the opening price. That is a bullish reaction to what could have been the beginning of a deeper pullback. Instead, buyers quickly stepped up and took back control. The pullback completed a second test of support at the 38.2% Fibonacci retracement level (30.04).
Moreover, notice that support was seen around prior resistance from the previous trend high of 29.80 from April 12. That is bullish behavior as the market recognized that price area given the subsequent reaction. It was the most recent previous trend breakout level. Further, today’s low shows price symmetry within a small declining ABCD pattern.
Closing Strong for the Day
Silver is on track to close strong for the day. It is positive for the day and in the top third of the day’s trading range. Since today’s bullish behavior follows an initial bearish breakdown, it might signal the end of the retracement. And sharp moves frequently follow false moves. It may also eventually negate the potential double top that has formed in silver. An upside breakout will next be triggered on a rise above today’s high of 30.81. It will be particularly interesting if the close today completes a bullish hammer candlestick pattern as it is currently looking like it may do so.
Improving Demand as Buyers Step Up
If today’s low ends up being a swing low that leads to higher prices, silver will be indicating improving underlying demand. Notice that the prior pullback successfully tested the 50-Day MA as support after dropping below the 20-Day line. If today’s test of support at the 20-Day is held, it shows support at a higher price level relative to the retracement. This is the type of price action seen when the strength of a trend is improving as it increases the rising slope of the uptrend.
Key Support at Today’s Low of 29.78
Today’s bullish price action gives greater significance to the day’s low. If the low is broken to the downside, following today’s bullish turn, the 50-Day MA at 28.25 becomes more likely to be reached as a deeper retracement kicks in.
Read Full Story »»»
DiscoverGold
Silver Continues to Consolidate in a Huge Range
By: Christopher Lewis | June 3, 2024
• Silver has fallen in the early hours, only to turn around and show signs of strength. With this, the market will continue to consolidate from what the early hours are telling us.
Silver Markets Technical Analysis
Silver initially pulled back just a bit during the trading session on Monday to test the $30 level again, an area that of course is a large, round, psychologically significant figure that will attract a lot of attention. It has held and since then we have rallied somewhat strongly. At this point I do believe you have a scenario where traders will continue to look at each pullback as a potential value play and probably continue to look at an attempt to get to the $32.50 level as a challenge if you will.
If we can break above there then it is likely that we will continue to see the movement to the upside perhaps drag out to the $35 level. Underneath we have a lot of support near the $30 level but we have even more at $28.50 where the 50-day EMA currently resides.
With all of this being said I think you probably have a noisy but somewhat positive outlook on this chart. And I think that you will continue to see this as a scenario where the shorting is impossible and it’s all about trying to find value. Eventually, we will have to pay attention to interest rates in the United States as well as the US dollar in general, that of course has its own influence on this pair and I do think that will continue to be the case. So no interest in shorting, at least not anytime soon, but if we do then I will just look at this $28.50 level as the next opportunity to buy silver.
Read Full Story »»»
DiscoverGold
$Silver has entered the final month of the rally into a 4 year cycle high that is due in late June. The target may be as high as 35.40
By: CyclesFan | June 1, 2024
• $Silver has entered the final month of the rally into a 4 year cycle high that is due in late June. It closed above the upper BB for the 1st time in this cycle. In 2016 and 2020 too it closed above the upper BB 1 month before the high. The target may be as high as 35.40.
Read Full Story »»»
DiscoverGold
Textbook Double Top on Silver (SLV)
By: Erin Swenlin | May 31, 2024
Gold is struggling, moving mostly sideways. Silver has technically been moving sideways as well, only it has formed a textbook double top chart pattern. Textbook double tops show even tops and a clear confirmation line delineated at the middle of the "M" formation. What is good about these formations is that they give us a minimum downside target.
The downside target is determined by the length of the pattern subtracted from the confirmation line. In the case of Silver, that would bring it down to prior gap support. But remember, this is a "minimum" downside target. It could fall further.
The Price Momentum Oscillator (PMO) has topped for a second time in overbought territory. Stochastics are falling. The technicals are failing on Silver, so we should be prepared for this decline to catch fire.
Conclusion: We have a bearish double top on Silver (SLV) that predicts a minimum downside target around 25.00. Prepare for more downside on SLV.
Read Full Story »»»
DiscoverGold
Silver Continues to Show Erratic Behavior
By: Christopher Lewis | May 31, 2024
• Silver continues to be very noisy on Friday, as the market is trying to build up enough pressure to finally break even higher. At this point in time, the $30 level is a floor in the market.
Silver Markets Technical Analysis
Silver has been very noisy during the trading session on Friday as we continue to just go back and forth and look for some type of momentum. As we continue to chop back and forth the only thing that really seems to be certain is that you cannot be a seller of the market.
All things being equal, this is a market that I think will continue to try to find its footing and break out to the upside. And we’ll also pay close attention to the $30 level as a major floor in the market. After all, it is a large round psychologically significant figure and an area that had previously seen a lot of selling pressure at. So, with that being the case, I think you have to look at this through the prism of whether or not you can find any real footing underneath and continue to go higher. I do think given enough time, that’s exactly what happens.
But ultimately, I think short-term traders will probably continue to take precedence here. This is a market that quite frankly, has to work off a lot of froth and that’s exactly what’s going on. So you have to be cautious. You have to keep your position size reasonable. And therefore, you have to look at this through the prism of buying little bits and pieces every time they drop, but not necessarily getting too big. Because the one thing about silver is it can turn around in the blink of an eye and cause massive amounts of damage to your account. That being said, I do think it goes higher over the longer term.
Read Full Story »»»
DiscoverGold
seems like banksters all got the memo sell every single pop and crush it..
its been a silver screwjob for me.. buy the way down sell the way up buy the way down.. these short selling banksters will never cover ever until there is no u.s. dollar system and then they still wont cover.. the whole thing is baseless paper anyway.. they prob shorted 50 billion worth and aint never covering. they just wait for people to buy it up so they can sell it down again..
Silver $SLV - Taking the C-Wave of a lrgr A-B-C script I warned of by the looks of it...
By: Sahara | May 31, 2024
• $SILVER $SLV - Latest
Taking the C-Wave of a lrgr A-B-C script I warned of by the looks of it...
Read Full Story »»»
DiscoverGold
Where are we going? $50 coming this time?
Silver $SLV - Popped that Bull 'Pennant' and tripped all its targets
By: Sahara | May 28, 2024
• $SILVER $SLV - Popped that Bull 'Pennant' and tripped all its targets.
Looking for a (1)-(2) now. Tho aware of a C-Wave of a lrgr A-B-C.
Commercial shorts from Last Tuesdays COT Report giving up all their gains...
Read Full Story »»»
DiscoverGold
Silver Bullish Reversal Targets New Trend Highs
By: Bruce Powers | May 27, 2024
• Silver breaks above Friday’s high, showing bullish strength after a 38.2% retracement, targeting further gains.
Silver triggers a strong bullish reversal as it breaks above Friday’s high of 30.62 and rallies sharply. It is on track to close strong, in the upper quarter of the day’s price range. Last week’s swing low of 30.05 completed a 38.2% Fibonacci retracement following a 24.9% rally to a trend high of 32.52 reached a week ago. Such a strong bullish reaction following a relatively shallow 38.2% retracement is bullish and a sign of underlying strength. Further, today’s advance has silver rapidly heading towards the 32.52 high as it attempts to rise above it and trigger a bullish trend continuation signal.
Recent Resistance Seen at Top of Trend Channel
Notice that last week’s high found resistance around the top rising trend channel line and the confluence of several Fibonacci price levels. This means that the top channel line should be considered as possible resistance as we move forward in time. It also means that the Fibonacci zone from 32.13 to 32.36 establishes a formidable price zone that could continue to act as resistance. Moreover, a decisive upside breakout above that price zone should lead to silver reaching higher price targets.
Next New Trend High Target of 33.17
Upon a rally to a new trend high silver will first be targeting the 127.2% extended retracement of the recent short pullback at 33.17. That price level is followed by a Fibonacci confluence zone with five targets from 33.78 to 34.06. If the top of the range at 34.06 is exceeded, there are no other targets showing until 34.60.
Long-Term Pattern is Bullish
Whether today begins a new challenge to trend highs or not, silver is well positioned to trend higher over the coming months if not longer. It is following through on a long-term bull flag setup. The declining parallel trend channel that makes up the flag began following a rise of 18.22 points or 156.5% from the March 2020 lows.
That was the low from the initial pandemic selloff. The price target derived from measuring the bull flag on a dollar basis is 41.7. That is a little more than 37% above last week’s close of 30.36. This does not mean that the target will be reached, just that it could be. Subsequent price action and trend price structure will provide additional clues as silver progresses higher.
Read Full Story »»»
DiscoverGold
Silver Continues to See Upward Pressure
By: Christopher Lewis | May 27, 2024
• The silver market continues to see a lot of upward pressure overall, and the Monday session continued to see this play out. However, it was Memorial Day in the USA, and therefore, liquidity was a bit less than usual.
Silver Markets Technical Analysis
Despite the fact that the silver market had to deal with liquidity issues on Monday due to the Memorial Day holiday in the United States, it’s obvious that this is a market that wants to go higher. With this, I am a buyer of short-term dips, and it is worth noting that we have broken above the top of the inverted hammer from the previous session and the $30 level underneath I think continues to offer a bit of a floor. With this, I think the market then goes looking to the $32.50 cents level, which could be a potential target. Short-term pullbacks, I think continue to be very noisy and I do think that a lot of people will be interested in it, but keep in mind silver is a very volatile market.
So, you need to be cautious with your position size simply because when silver does fall, it’s very brutal. If we can break out above the recent highs, then I think we could go look into the $50 level. And the reason I say that is that historically speaking, when we break 30 and sustain it, we get to 50. It’s only happened twice that I could find information on, but that’s kind of what we have to go with.
The US government borrowing money the way it has will continue to drive metals higher. Plus, we have the whole green technology aspect of silver that drives prices higher also. Keep in mind that it is much more volatile than gold. So, you’re not playing gold here, you’re playing silver. And it’s got an industrial component that can cause chaos also. So be cautious, but clearly this is a market that wants to go higher.
Read Full Story »»»
DiscoverGold
Silver Continues to See Support
By: Christopher Lewis | May 24, 2024
• Silver continues to see a lot of noisy behavior, as the market will continue to look at the inverse correlation between interest rates and silver pricing in general.
Silver Markets Technical Analysis
Silver rallied just a bit during the trading session on Friday as it looks like we are trying to stabilize a bit after that massive sell-off. At this point a lot of this is going to come down to whether or not interest rates are rising or falling and we did see them spike just recently. However, this is a market that continues to see a lot of volatility, and perhaps danger if you are not careful at this point in time.
That being said, the market is likely to continue to see the uptrend come into play because quite frankly, this is a market that is basically momentum driven. At this point, I suspect that a lot of people are going to jump in and try to take advantage of cheap silver as the market has clearly leaped well above the $30 level. With that being the case, I think this is a market that value hunting has reentered and now it looks like the $32 level might be the next target.
The Relative Strength Index is now well below the $70 level, so I think a lot of people will get involved based on that. Underneath, I see the $28.50 level underneath as a major support level. Even if we break down below the $30 level, the 50-day EMA is starting to reach towards the $28.50 level, so that of course is worth paying close attention to as well. In general, this is a market that I think continues to find buyers on dips until something truly changes as far as the fundamentals are concerned.
Read Full Story »»»
DiscoverGold
Silver $SLV - History in the making...
By: Sahara | May 23, 2024
• $SILVER $SLV - History in the making...
Read Full Story »»»
DiscoverGold
Silver $SLV - Tripped all the targets from that Bull Plot and went onto the Uppr-Parallel
By: Sahara | May 23, 2024
• $SILVER $SLV - Tripped all the targets from that Bull Plot and went onto the Uppr-Parallel.
Hope is now for a Bull 'Pennant'...
Read Full Story »»»
DiscoverGold
Seems like most of the PM dealers use kitco, which is looking at major upside from here.
https://www.kitco.com/news/article/2024-05-21/silver-eyes-50-td-securities-predicts-major-breakout-after-31-support-holds
seems with 1 trillion of new debt every few months in the US, industrial global demand, and only 50 million stacking in China......the upside is huge...... and thats without a big crisis like BRICS destroying the $$....
Silver Continues to See Momentum Stall
By: Christopher Lewis | May 21, 2024
• The silver market has been on fire lately, and therefore we are getting into a dangerous situation. The market is overdone, and a lot of people are about to lose a lot of money if we get a sudden drop. (Something silver is notorious for.)
Silver Markets Technical Analysis
Silver has been back and forth during the early hours on Tuesday, forming a rather neutral candlestick with long legs yet again. At this point in time, I do think silver is due for a pullback, and the reality is that we will probably have a significant pullback sooner or later.
And it might actually be sooner at this point on the Relative Strength index. It looks like we are starting to roll over again, but we are very well ahead of the 70 level, which of course signifies overbought. So, at this point in time, I think we have one of two choices. We either go sideways for a while and work off some of the from, or we get a vicious pullback that shakes out a lot of the hot money.
The retail trader out there is over levered and silver will get smoked sooner or later. I’ve seen this happen a couple of times, especially in this market. So, the one thing that you need to do is make sure that if you get something like a $2 drop, it won’t wipe out your account. Because $2 seems like a lot.
The reality is we had about $1.70 worth of change from top to bottom. Just the previous session. What happens if we wipe out the $31 level? Well, at that point, I think we drop another dollar pretty quickly and we could even drop down to the $28.50 level, which would not change the overall trend at all. So recognize that you are extremely extended at this point, and although we could go higher from here, the more likely route is either sideways or down, at least in the very short term.
Longer term, we could go as high as $50 because it does seem like every time the market breaks above $30, it does try to make it to $50 and then it gets smashed, including the last time it did it, it went from $50 or just under $50, falling all the way back down to $12. So be careful. Silver is a dangerous animal.
Read Full Story »»»
DiscoverGold
Silver Hits New High at 32.52, Faces Resistance Zone
By: Bruce Powers | May 20, 2024
• Silver hits 32.52, marking a 25% rise from May's low, but resistance indicates potential for a pullback.
Silver begins the week with a new trend high of 32.52 and it is on track to close strong, in the upper third of Monday’s trading range. At the high silver was up by 6.50 points or 25.0% from the most recent swing low of 26.02 from May 2. Nonetheless, today’s high has put silver in a potential resistance zone that could lead to a pullback if not a larger retracement. An intraday pullback is in place at the time of this writing, but trading remains above the halfway point for the day’s range.
Fibonacci Confluence Marks Resistance from 32.13 to 32. 36
The confluence of Fibonacci price levels from 32.13 to 32.36 marks the current resistance zone. Although today’s high exceeded the top of the range, silver looks like it may close Monday within or below the price range. The previous trend high at 29.80 now marks a possible support area of some significance. Also, the 20-Day line has significance at 28.03. However, there are interim price levels to be aware of.
The first is at 31.46. That is a long-term 50% retracement of the decline that begun from the April 2011 peak at 49.81. It previously represented potential resistance on the way up this week, and now support, if further weakness kicks in. Today’s low is 30.95. If the price of silver falls below that level, a deeper pullback is likely on deck. There is also potential support around the top rising trend channel line. If hit today, it would represent approximately 30.60. A little lower is prior resistance from the February 2021 swing high at 30.14.
Larger Bullish Picture Remains
Silver remains bullish in the bigger picture. Last week it advanced to a new long-term trend high on a move above 30.14. It closed last week at its highest weekly closing price since February 2013. Last week’s advance also triggered the continuation of a large bull flag. The initial advance of the pattern designated the pole for the flag pattern. An initial advance from the pattern (pole) saw a rise of 156.5% in the price of natural gas in a relatively short amount of time.
Read Full Story »»»
DiscoverGold
$SLV Tape is ACTIVE A lot of further-dated put selling today (Bullish)
By: Cheddar Flow | May 20, 2024
• $SLV Tape is ACTIVE
A lot of further-dated put selling today (Bullish)
Read Full Story »»»
DiscoverGold
Silver soars to highest price in more than a decade
By: Barchart | May 17, 2024
• JUST IN: Silver soars to highest price in more than a decade.
Read Full Story »»»
DiscoverGold
Looks like a case of Silver headed to 40 then 50.....
I think possibly by December this year.
If only 50 M Chinese buy only one oz each week..........
There is no significant inventory, and it can only go much higher
Back to a silver gold ratio of maybe 40, eh ???? .
the current debt levels and out of control spending make PMs a big buy....
As the big money gets on board.....it will only go up..
https://www.kitco.com/news/article/2024-05-16/big-shorts-michael-burry-makes-10-million-bet-sprott-physical-gold-trust
$SLV $1.2 Million Unusual Put Sell Order (Bullish)
By: Cheddar Flow | May 17, 2024
• $SLV $1.2M Unusual Put Sell Order (Bullish)
This was sold to open (Vol > OI) and has an unusual amount of contracts
Volume is up significantly on these just from today
Read Full Story »»»
DiscoverGold
Silver Continues to Squeeze Short Sellers
By: Christopher Lewis | May 17, 2024
• Silver markets have shot straight up in the air again during this past week, as we continue to see a massive, short squeeze in this market.
Silver Markets Weekly Technical Analysis
Taking a look at the Silver Weekly chart, you can see that we’ve shot straight up in the air during the week, and now it looks like the short squeeze is on. Now the question about these short squeezes will always be the same, and how long can it last?
Well, looking in the past we’ve seen Silver rocket to $50 once it’s cleared $30. But it also tends to correct very viciously at the same time. So, when you do get a pullback, it’s going to be pretty ugly. Because of this, I would implore you to keep your position size reasonable. Sometimes a market just gets so far ahead of you that you just can’t be bothered with it.
It’s not worth it in the long term. Ultimately, I do think that the $30 level could be support. I also recognize that the $28.50 level could be support longer term. You know, we’ve seen the silver market go looking to the $50 level when it breaks through this region. The biggest problem, of course, is going to be that silver markets are based on futures contracts, which are paper contracts.
And for a long time, there’s been an issue with people nakedly shorting an asset that they don’t have. And with more signs than there actually is in the world. Because of this, I do think we have a nice run here, but I also recognize that typically silver will punish traders who start chasing on these wild moves too recklessly. So, by all means, please, if nothing else, be cautious with your position size.
Read Full Story »»»
DiscoverGold
Someone's looking for $35 silver by December
By: Markets & Mayhem | May 16, 2024
• Someone's looking for $35 silver by December.
Read Full Story »»»
DiscoverGold
Silver Continues to Stretch
By: Christopher Lewis | May 16, 2024
• The silver market has been back and forth during the session on Thursday, as the market has reached the recent highs yet again. Ultimately, this is a market that has a lot of noise above that could come into the picture.
Silver Markets Technical Analysis
Silver has been back and forth during the early hours on Thursday as we are most certainly stretched at this point. We have tested the highs that we made a few weeks ago and as a result it looks like we are struggling to break out.
When you look at the relative strength index, we are approaching the overbought condition as well. So, I think at this point in time, a short-term pullback makes a lot of sense. The $28.50 level underneath could be significant support, as it has been an area of interest multiple times in the past. On the other hand, if we do continue to go higher, the $30 level would almost certainly be an area that a lot of traders will pay attention to.
The silver market has a long history of ripping to the upside and then collapsing. That’s why I’m always a bit cautious about trading silver. Silver is not like trading gold. There aren’t as many central bank and interest rate influence portions of the fundamental analysis although they do have a certain amount of influence.
But really silver is kind of its own animal because it is an industrial metal as well. And as of late, it’s more about green technology. Ultimately, I think the green technology probably drives demand higher from the longer term standpoint. But then again, we’ve been talking about a significant undersupply of silver for years now. So, I’m not sure why today would be any different. With that being said, I think this is more or less a buy on the dips market. You just can’t chase this type of move. It’s a really good way to get hurt, actually.
Read Full Story »»»
DiscoverGold
Silver $SLV - A poke in the eye for those that ridiculed the Bull Pattern. 3rd Target Hit...
By: Sahara | May 15, 2024
• $SILVER $SLV - A poke in the eye for those that ridiculed the Bull Pattern.
3rd Target Hit...
Read Full Story »»»
DiscoverGold
Silver Uptrend Sustained with Bounce off Support
By: Bruce Powers | May 13, 2024
• Silver's price fluctuations show potential for an upside breakout if today's high of 28.39 is surpassed, though a drop below 27.97 would be bearish.
Silver peaked at a high of 28.77 last Friday before ending the day in the red with a bearish candlestick pattern. Sellers again dominated today, Monday, as the price of silver fell below Friday’s low of 28.04. However, support was seen at the day’s low of 27.97, leading to a minor intraday bounce.
Support was seen around the crossing of two rising trendlines, one is short-term representing dynamic support for the advance from the most recent swing low at 26.02. The other covers a longer time frame beginning from the February 28 swing low. The longer line is of greater significance and the shorter line confirms the support level.
Resistance Becomes Support
Dynamic resistance represented by the 20-Day MA and longer uptrend line were exceeded to the upside recently. Once resistance is exceeded price frequently will pullback and test a similar price area as support. If it holds and price is rejected to the upside, the uptrend has provided a new clue that improves the chance for the trend to continue. Today’s bounce off the trendline provides such a clue. However, follow through to the upside is needed, while a drop below today’s low would be short-term bearish.
Rise Above Trendline Showed Strength
Note that silver dropped below the longer uptrend line on April 30 and stayed below it until last Thursday. Today it is on track to end with a narrow range day and successful test of support at the trendline. Therefore, if the uptrend line continues to mark support, silver will be triggering an upside breakout on a move above today’s high of 28.39. If today’s low is broken then the 20-Day MA at 27.48 becomes a target for support, followed by a recent minor swing low at 27.01.
Last week’s high completed a small rising ABCD pattern and it may mark a short-term top. In that case, further consolidation or a deeper pullback becomes more likely. Friday’s weak close puts into question the potential for the current rally to continue with a similar rising slope.
Read Full Story »»»
DiscoverGold
Followers
|
76
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
3974
|
Created
|
07/13/08
|
Type
|
Free
|
Moderators DiscoverGold |
Silver Futures Indexsilver (slvr) |
A Brief History of The Health Support Uses of SilverFor thousands of years silver has been used as a healing agent by civilizations throughout the world. Its medical, preservative and restorative powers can be traced as far back as the ancient Greek and Roman Empires. Long before the development of modern pharmaceuticals, silver was employed as a germicide. Consider these interesting facts:
Silver Re-DiscoveredNot until the late 1800's did western scientists re-discover what had been known for thousands of years - that silver is a powerful germ fighter. Medicinal silver compounds were then developed and silver became commonly used as a medicine. By the early part of the 1900s, the use of silver was becoming widespread. By 1940 there were approximately four dozen different silver compounds on the market. Although there were a few flare-ups of negative publicity regarding medicinal silver in the early 1900s, (due to the overuse of certain types of protein-bound silver compounds causing a discoloration of the skin called argyria and due to a supply of improperly prepared and unstable silver) reputable medical journal reports demonstrated that a properly prepared colloidal dispersion of silver was completely suitable with no adverse side effects. T. H. Anderson Wells reported in the Lancet (February 16th, 1918) that a preparation of colloidal silver was "used intravenously. . . without any irritation of the kidneys and with no pigmentation of the skin. " New knowledge of body chemistry gave rise to the enormous array of applications for colloidal disinfectants and medicines and for on-going research into the capabilities and possibilities for silver colloids. However, Silver's "new-found" fame as a superior infection-fighting agent was short lived. How Silver Lost FavorDuring the 1930s, synthetically manufactured drugs began to make their appearance and the profits, together with the simplicities of manufacturing this new source of treatment, became a powerful force in the marketplace. There was much excitement over the new 'wonder drugs' and at that time, no antibiotic-resistant strains of disease organisms had surfaced. Silver quickly lost its status to modern antibiotics. On-going Uses of Colloidal SilverThe use of some silver preparations in mainstream medicine survived. Among them are the use of dilute silver nitrate in newborn babies' eyes to protect from infection and the use of "Silvadine," a silver based salve, in virtually every burn ward in America to kill infection. A new silver based bandage has recently been approved by the FDA and licensed for sale. Other uses that did not lose favor include:
But for the most part, with the discovery of pharmaceutical antibiotics, interest in silver as an anti-microbial agent declined almost to the point of extinction. The Resurgence of Silver in MedicineThe return of silver to conventional medicine began in the 1970s. The late Dr. Carl Moyer, chairman of Washington University's Department of Surgery, received a grant to develop better methods of treatment for burn victims. Dr. Margraf, as the chief biochemist, worked with Dr. Moyer and other surgeons to find an antiseptic strong enough, yet safe to use over large areas of the body. Dr. Margraf investigated 22 antiseptic compounds and found drawbacks in all of them. Reviewing earlier medical literature, Dr. Margraf found continual references to the use of silver. However, since concentrated silver nitrate is both corrosive and painful, he diluted the silver to a .5 percent solution and found that it killed invasive burn bacteria and permitted wounds to heal. Importantly, resistant strains did not appear. But, silver nitrate was far from ideal. So research continued for more suitable silver preparations. Silver sulphadiazine (Silvadene, Marion Laboratories) is now used in 70 percent of burn centers in America. Discovered by Dr. Charles Fox of Columbia University, sulphadiazine has also been successful in treating cholera, malaria and syphilis. It also stops the herpes virus, which is responsible for cold sores, shingles and worse. The history and uses of colloidal silver are well known and documented. They can be researched easily on the Internet through search engines and any colloid forum, bulletin boards or blogs. We cannot link to them or publish them here because Federal Law prohibits any claims or testimonials associating our products or product ingredients with any disease states. Keep in mind that the particle surface area of our colloidal silver product, MesoSilver, is the highest ever tested. This means it is the most effective of any colloidal silver product ever made. With not a single serious adverse event ever reported, it is also one of the safest supplements on the market today.
|
SILVER IN DEPTHSilver links from LinksMine - InfoMine's Library of Mining Web Sites Site Listings
Associations
Exploration
History
Investment
Publications
Please boardmark us if this i-Message is helpful... Thanks in advance!!!Presently, the Board has 70 Boardmarks, Thank you! |
The Silver Price Will Rise 4.83 Times as Far as Gold Pricehttp://goldprice.org/silver-and-gold-prices/2008/12/silver-price-will-rise-483-times-as-far.html Unless you understand this one principle, you understand nought about precious metals' bull markets: monetary demand, and monetary demand alone, drives both gold AND silver. It's not Indian wedding demand or the popularity of silver jewelry that drives their prices, but sheer monetary demand, holding them as "money" because the alternatives -- national currencies -- are clearly failing. WHEREFORE, before this bull market ends, you will need only 16 ounces of silver to buy one ounce of gold, which means from here that the silver price will rise 4.83 times as far as the gold price. Forget the siren song of the "gold-only" bugs, who have fallen for the myths of the money interest: both silver and gold are money, and always will be. GOLD ENTERING A VIRTUOUS CIRCLESeptember 3rd, 2010 by Egon von Greyerz GOLD ENTERING A VIRTUOUS CIRCLEFundamental and technical factors for gold are now in total harmony and gold is entering a virtuous circle that will drive the price up at its fastest pace since this bull market started in 1999.
Gold trendWe expect gold to start a substantial rise now which will continue for 5-10 months before any major correction. Gold's technical picture is extremely strong with a continuous rising pattern of higher highs and higher lows with the steepness of the curve increasing. From much higher levels we are likely to see a correction that could last up to a year before the next rise which will last several years before we see a significant peak. Once gold has topped we do not expect the same kind of decline as after the 1980 peak since gold is likely to become part of a future reserve currency. At that point gold will be a solid but unexciting investment with very little upside potential. But that is likely to be a few years away. In spite of a 5 times increase in the value of gold or an 80% decline against many currencies and stockmarkets in the last 11 years, most investors own no gold and still do not understand the importance and value of gold. In a world of constant money printing and credit creation leading to devaluing currencies and devaluing assets, gold reflects stability and is virtually the only store of value that cannot be destroyed by governments. The average asset manager, fund manager, pension fund or private individual owns no physical gold and at best has a very small exposure to some precious metals stocks. And in spite of this gold has gone up over 400% in 11 years. How is that possible? For the simple reason with the relatively modest demand that we have seen in the last few years, there is not enough physical gold even at these levels. The increase in demand that we have seen has most probably been satisfied by central banks leasing or lending their gold to the bullion banks. Central banks supposedly own 30,000 tons of gold but unofficial estimates of their real holdings are at 15,000 tons or less. So what are the factors that are likely to lead to a major rise in the gold price? We have for several years outlined in our Newsletters the problems in the world that inevitably will lead to massive money printing and a hyperinflationary depression (see for example "Alea Iacta Est" and "There Will Be No Double Dip…" on the Matterhorn Asset Management website). There are three insurmountable problems:
The effect of this massive $20 trillion infusion has been ephemeral since we are entering the autumn of 2010 with virtually every single economic indicator and statistic in the US deteriorating rapidly. With interest rates already at zero there is no ammunition left but one. And it is this specific last bullet that will be used to infinity in the next few years and starting very soon, namely UNLIMITED MONEY PRINTING. Every single area of the US economy will need support or printed money, whether it is the federal government, the states, the municipalities, banks, pension funds, insurance companies, the unemployed, corporations, health care, housing market, commercial real estate, individuals, etc, etc, etc. The list is endless and many other countries will follow. Before we talk about gold in hyperinflationary terms, let's look at where gold is likely to reach in today's money. Three realistic Gold targets: $6,000 - $7,000 - $10,000:
The three historical comparisons above (and see chart below) would put gold anywhere from $6,000 to $10,000 and this is without inflation, or more likely hyperinflation. In a hyperinflationary environment, the price gold will go to is really irrelevant since it depends on how much money is printed. In the Weimar Republic for example gold went to DM 100 trillion. What is more important is that gold is likely to go up at least 5 times from today without inflation and with hyperinflation gold will protect investors against the total destruction of paper money and many other assets. Wealth ProtectionGold must only be held in its physical form and the holder of gold must have direct access to the gold. We consider ETFs, gold in a bank (whether allocated or unallocated), fractal ownership of physical gold, futures or any other form of paper gold as very risky and a totally unsatisfactory method for owning gold. Physical gold should preferably be stored outside your country of residence and outside the banking system. The holder must have direct access to the vaults where the gold is stored. SilverSilver has been lagging gold since its peak at over $21 in 2008. For the last few months the gold/silver ratio has been consolidating between 58 and 71. The ratio is currently around 64 and is likely to start a move down to new lows below the 2006 low at just 44. So this is very good news for silver which is likely to outpace gold substantially in the next few years. Silver is probably the most undervalued precious metal today and has great potential. But there are many caveats for silver:
StockmarketsAt the beginning of July this year we sent out a message to investors that, based on our proprietary indicators, we expected stockmarkets to finish the correction up at the end of July and resume the major downtrend in August. We also said that gold would start its major rise in August. And this is exactly what has happened so far. We now expect major falls in all stockmarkets worldwide over a sustained period. We would not be surprised to see the Dow down to the 1,000 area (in today's terms) before this bear market in over. But it will not be a straight line and there will be extreme volatility. When hyperinflation sets in, stockmarkets will have a major but temporary surge. The only stocks that investors should hold are precious metals stocks and possibly some resource and food stocks. But it must be remembered that stocks do not represent the same degree of wealth preservation as physical precious metals held directly by the investor. CurrenciesCurrencies should in the next few years be looked upon as a necessary evil and not as a store of value. All currencies will continue to decline against gold, just as they have in the last 11 years and in the last 100 years. Due to money printing by most governments, we will have a fierce game of competitive devaluations by virtually all central banks. We have seen the Euro and the pound weaken substantially and the next currency the speculators will jump on is the US dollar. The dollar is grossly overvalued, partly due to the weak Euro, and is likely to weaken significantly due to the problems in the US economy. Currencies only reflect relative value and not absolute value since they can be and are printed until they reach their intrinsic value of zero. It is a fallacy to measure the value of a currency relative to another currency since they are all losing value. Currencies should only be measured against real money which is gold. This is the only method that reveals governments' deceitful actions in destroying the value of paper money. Therefore it is a mug's game to speculate or invest in currencies since they will all decline in an extremely volatile and unpredictable market. So are there currencies which are likely to perform better on a relative basis for funds that have to be held in paper money? We believe that Norwegian kroner, Swiss Franc, Canadian Dollar, Singapore Dollar, Australian Dollar and Renminbi will perform relatively better than many other currencies. Government Bond MarketsThe bond market is the biggest bubble in financial markets worldwide, in our opinion. Investors around the world are worried about the state of financial markets and therefore believe that government bonds represent a safe haven. These investors will receive the most enormous shock on two accounts. Firstly, no government will be able to repay the debts outstanding. So there will either be government defaults, moratoria, or money printing that totally destroys the value of the bonds. Secondly, interest rates are likely to go up significantly to at least 10-15%, totally destroying the value of the bonds. ConclusionWe are now entering a period when most major asset classes and in particular stocks, bonds and currencies are starting a major decline. Since most financial assets in the world are invested in these three categories plus real estate which will also decline, we are likely to experience major shocks and crises in the financial system and the world economy. Wealth protection is now more important than probably at any other time in history. Physical gold and possibly other precious metals directly controlled by the investor will be a vital part of a wealth preservation portfolio. |
http://bullion.nwtmint.com/silver.php
http://stockcharts.com/h-sc/ui?s=%24SILVER&p=D&yr=0&mn=3&dy=0&id=p43555958479
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |