Silver is setting up for a big rally Im looking for silver to catch some footing here and place a floor underneath. A hike to $36-$37 can occur rapidly once investors realize the support is in.
PSLV
Bitcoin v SilverBitcoin vs Physical Silver gives a calmer view of bitcoin value increase.
It follows a repeating trend of bitcoin supply halving (yellow), followed by supply shock run-up to correct value (orange circles).
Each halving has consisted of 3 phases (blue) we are entering the breakout price discovery phase, with potential 15x return against silver.
$Silver making moves, has it finally stopped consolidating?Silver is looking like it finally wants to break out!
AMEX:SLV looks even better on the weekly chart!
Monthly, looks okay. not great but that can change over time.
This could be the beginning of a HUGE Squeeze!!!
2x would be nice and is possible this year.
Have physical, AMEX:CEF , 2025 #silver call options.
Silver is setting up for a short term collapseSilver seems to be setting up for a beating. Its forming a rising wedge, whos top aligns with a strong resistance. The rsi and macd are forming obvious bearish divergences. I believe that the light holiday liquidity, alongside the bearish setup, is a recipe for a beautiful buying opportunity
Silver maybe be forming the bottom of a Wave CSilver looks like its trying to complete a correction before a new uptrend is formed. Its also grinding on the top of a falling wedge.
Grand Silver SupercycleI present the Grand Silver Supercycle. Silver has followed Elliott Wave Theory nicely through the years. The price hit a century low during The Great Depression, beginning what I believe to be the first wave of a supercycle. There is a clear five wave pattern up from this low, peaking in 1980. This is supercycle wave 1. Then, we see a five wave corrective pattern down, bottoming out in the early 90s. Alternatively, a three wave ABC pattern could be drawn. This is where supercycle wave 3 begins. Wave 3 is typically much more prominent than wave 1 in Elliott Wave Theory. For this reason, it makes sense that the next five wave pattern ending in 2011 is only the first subwave of supercycle wave 3. The second subwave corrected to the 2020 low, and we are currently on the third subwave. Within this subwave, we could either be starting a third wave (as shown in the chart) or still be on the corrective second wave. I believe the former is much more likely due to fundamentals.
Price targets within the current subwave were estimated as follows:
wave 3 length = 1.618 X wave 1
wave 3 target = $48
wave 4 length = 38.2% retracement of wave 3
wave 5 length = 1.618 X (wave 3 end - wave 1 start)
I'm more confident on wave 3 ending near $48 than I am of wave 5 ending near $95. There is strong resistance at $50, which coincides with the Elliott target zone. Wave 5 length can vary significantly. For silver at least, fifth waves have traditionally been long ones.
Fundamentals
Elliott Wave Theory is only a tool. It needs to be backed up by fundamentals when forecasting on long time frames. Silver is undervalued due to many years of supply outstripping demand, creating cheap prices. That is in the early stages of changing as now demand outpaces supply. Global silver demand was expected to hit an all time high of 1.21 billion ounces in 2022 (www.silverinstitute.org). This is largely due to increases in demand in both industry (Green Revolution) and personal investment (stackers hedging against inflation). Silver reserves currently stand at 530,000 metric tons (www.statista.com). The current demand is 38,000 metric tons per year. A simple calculation shows existing reserves could be depleted in 14 years. However, this calculation doesn't take into account new discoveries and recycling, which have so far kept pace with demand. Estimates of time to depletion of reserves vary wildly from a couple decades to a few centuries. At the moment, the prime driver of price (in addition to inflation) will be the deficit, not depletion of reserves.
Inflation is a totally different animal that is much harder to forecast long term due to its close relationship to government and Federal Reserve policy. It is more likely that when presented the choice, our leaders choose high inflation over debt default and depression. How this all is going to play out is anyone's guess. It seems for now our leaders are trying to kick the can down the road for as long as possible. If hyperinflation hits, the silver price will reach extraordinary heights.
Gold is about to breakout above $2k - Here we goThe Fed and US economic data will likely prompt s big move in Gold/Silver over the next 36+ months.
My read on the data is that we are starting a price cycle that is similar to 2002~2005 again.
Early bullish trending throughout 2002~05 prompted a massive 500% rally in Gold - reaching a peak in 2011.
If that happens again from the $1700 support level, we may see Gold reach levels above $11,000 by 2027~28.
This is NOT the same market condition as 2019~2022.
Follow my research
PSLV - Taking ProfitsPSLV weekly and daily charts looking a bit extended = time to book some profits. Will leave a little sprinkle on to run just in case - but mostly move to cash and re-enter after a pull-back.
For longer term timeframes I expect that silver will continue to move up …eventually, but likely needs to cool off first. COPX also looking topping here...and copper usually leads the metals complex. Maybe this time is different - but probably not.
NFA
Any moment , silver will move Silver looks set for a move upwards. Its been consolidating its recent feom the lows. It remains above the 200 dma and down trendline. It looks healthy.
Gold RIPPING higher. New Record Coming! Buy Discounted!Gold is exploding higher on fears in the market. When the "you know what" hits the fan, real stuff matters. Countries and hedge funds are piling into gold and treasuries as a safety net as the market continues to implode. In this video, I talk about physically-backed trusts that allow a paper-type holding via stocks but real gold, silver, palladium, and platinum behind it. And get this, at a discount! If you were looking for a place to get out of your overpriced NASDAQ stocks, this might be a place to hang out as the dust settles. Here I talk about Sprott's Trusts on physical metals as I see them as a very trustworthy company that knows what they're doing and with the clarity on how many assets they have in these metals so you know what you're actually getting into.
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Stocks PSLV, PHYS, CEF, SPPP GLD, SLV, FUTURES, DJI
Golds decision is here Gold will most likely rally to the 1855-1860 area before having a significant pullback. That area marks the major trendline that has marked the tops of this consolidation that has lasted close to 18 months. The bullish case would be marked by a touch of the trendline , a correction, then a decisive break and rally. The length of the consolidation will lead to a significant move that would target the all time highs and possibly much higher. A fail at the trend line will send gold plummeting to my lower support levels at 1669 then 1551. The next few weeks will be interesting! Safe trading.
Silver has a decision to make Silver looks to be in the midst of a pullback. Wensdays FOMC meeting and fridays non farm payroll numbers will be crucial to the markets movement next week. If the fed sounds very hawkish, the pullback will likely go a little deeper for silver, possibly to the $22.60-$23 level. In the case where the fed comes off dovish or metals react positively, I see silver quickly rising to the $25.5-$26 level. The 200 daily moving average sits at $25.50, a test of the 200DMA at this point would be expected. The majority of silvers range between August last year and this years August was between $26-$27.7. The $26 level used to be support , now it serves as a resistance.
Silver is down on the week but may be setting up...Silver is down on the week, but it's driving back into buying territory. It's also the end of the month when silver prices typically get pushed down in order to make expiring contracts cheaper. Next week starts with a new month, which tends to be optimistic for silver. This plus the buying territory makes it likely that silver will have an uptrend especially at the beginning of next week. If you can imagine that on this chart, you can see that it's then beginning to form a reverse head-and-shoulders pattern - which is typically very bullish. That's all for now.
This is not financial advice.
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Silver decline done yet?too early to tell if silver is done declining, but there are optimistic signs. Volume and indicators are turning positive. DXY dollar saw some selling. Gold and Oil have been strong this week.
SILVER triangle breakoutJust buying Silver @ 24.86, as it already broke the triangle (yellow) and pulled back to the range high BUY (which often acts as strong support). The grey trendline could act as a magnet attracting the price. For me it's good opportunity to get in with favourable risk reward ratio.
RRR 5.55
TP @ 31.9 which is resistance slightly below the projection of triangle height (projected from range mid-point)
SL @ range low
Silver Bullish Ascending Triangle target is $37Large weekly Bullish ascending triangle on Silver. The breakout level is $29. It will quickly move to $37 thereafter.
Happy to see silver up today! PSLV has bounced from the weekly level that I had been eyeing for weeks, where I have been compounding again and again.
Today it seems to be officially breaking out from the CC range too. The fib time levels also working nicely imo.
Which silver stock? $AG or $PSLVAG and PSLV are both popular silver stocks that more or less track the spot price of silver. PSLV cannot be shorted as each share is backed by 1/3 of an ounce of physical silver. Meanwhile AG can be shorted, so let's look at this chart of AG/PSLV to get an idea of what short sellers are up to. At the beginning of the month it looks like short sellers got scared after the wallstreetbets headway with GME, and the rumors of setting their sights on silver. You can see the spike in the chart where the shorts relinquished their positions, sending a spike up on AG. Afterwards talk of silver was basically banned on wallsteetbets and short sellers moved back in. Now that the spot price continues to show massive support, the AG shorts seem to be sluffing off again. I'd say they're both great buys, and AG might see more upside movement in the short term. But will AG paper silver survive the squeeze as comex fraud is exposed? In that case PSLV might be the safer bet. Note you will need something like 30k shares to take delivery from PSLV, but at least it is an option and will more likely retain it's stock value in the event of a major unwinding of derivatives. This is not financial advice.
Silver Support LevelSilver is now testing another important support level, seems to be holding.
It is also far from the MAs a short term up move is expected, the long term is unknown, but given the current economic situation there is a chance for higher moves later in the year.
A lot of paper shorts in the market, will they give in?
Time to buy silver? I see major support at current levels (high volume node, 0.618 and the weekly since the covid dip).
Silver headed to 37.65 in AprilLong term fib sequence pointing to higher silver, specifically 37.65 for a 100% move, probably have some pullback there before heading to 47.50+ later this summer
🥈 SILVER XAGUSDPrudent investors embrace volatility and know the price of Silver will go up over time ~
(Same holds true for SOME stocks and Cryptos)
SLV Confluence around $22.50The 200 SMA dynamic support lines up with the middle of the pitchfork and demand zone. Very high probability trade setup IMO.
