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Re: DiscoverGold post# 1540

Sunday, 01/28/2018 7:25:32 PM

Sunday, January 28, 2018 7:25:32 PM

Post# of 3864
NY Silver COMEX Futures Summary Analysis
By: Marty Armstrong | January 28, 2018

Analysis for the Week of January 29, 2018

THE ANALYSIS PERSPECTIVE AS OF THE CLOSE OF Fri. Jan. 26, 2018: NY Silver COMEX Futures closed today at 174410 and is trading up about 1.72% for the year from last year's closing of 171450. Thus far, we traded down the previous day. Immediately, the market was an inside trading session warning of a brief pause in trend following the high established Thu. Jan. 25, 2018. Relying on our Reversal System, our next Weekly Bullish Reversal to watch stands at 177460 while the Weekly Bearish Reversal lies at 169840. This provides a 4.29% trading range. Turning to the broader Monthly level, the current Bullish Reversal stands at 177460 while the Bearish Reversal lies at 161400. This, of course, gives us a broader trading range of a 9.04%.

The last event was a low established during 2016.

A possible change in trend appears due come February in NY Silver COMEX Futures so be focused. Last month produced a low at 156350 and so far, we have exceeded last month's high. We now need to close above 174950 at month-end to imply a technical reversal of trend to the upside for now.

Looking at the near-term level, the market has closed up 25.8% from the last cycle low established during 2015, which has been only a 2 year rally as of last year. Turning to the long-term perspective, the market has still closed on the Yearly level up 389.1% from the strategic low established during 1991, which has been a 26 year rally from last year.

Looking at the near-term level, the market has closed down 19.2% from the last cycle high established during 2016, which has been only a 1 year decline. Turning to the long-term perspective, the market has closed on the Yearly level down 65.5% from the strategic high established during 2011, which has been a 6 year move.

The Daily level of this market is currently in a full bullish immediate tone with support at 170900

On the weekly level, the last important high was established the week of January 22nd at 177050, which was up 6 weeks from the low made back during the week of December 11th. We have been generally trading up since that low, which has been asignificant move of .1323 percent in a stark panic type advance. The broader perspective, this current rally into the week of January 22nd has exceeded the previous high of 174950 made back during the week of October 16th. We have seen a rally so far from the last low at 156350 made the week of December 11th, and only a break of that low would signal a technical reversal of fortune. Otherwise, the market remains strong at this time. Right now, the market is above momentum on our weekly models hinting this is still bullish for now as well as trend, long-term trend, and cyclical strength. Looking at this from a wider perspective, this market has been trading up for the past 16 weeks overall.

Currently, this market remains in an uptrend posture on all our indicators looking at the weekly level. We see here the trend has been moving up for the past 6 weeks. The last weekly level low was 156350, which formed during the week of December 11th, and only a break of that high will see the market move high still. The last high on the weekly level was 177050, which was created during the week of January 22nd, and has now been exceeded in the recent rally.

Some caution is necessary since the last high 182900 was important given we did obtain two sell signals from that event established during September 2017. Critical support still underlies this market at 160500 and a break of that level on a monthly closing basis would warn of a further decline ahead becomes possible. Nevertheless, at this time, the market is still holding and is trading above last month's high. Looking at a broader time horizon, this market is in an uptrend position on all our monthly indicators for the near-term trend. We see here the trend has been moving up for the past 5 months. The last monthly level low was 143400, which formed during July 2017, and only a break of that high will see the market move high still. The last high on the monthly level was 182900, which was created during September 2017. However, we still remain below key resistance 177450 on a closing basis.



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