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Silverlong

Silver 2 Year Wedge Breakout Looming?Silver is at a critical point in it's chart. With gold breaking to new highs, Silver has underperformed but has rallied alongside the yellow metal. Now we are at a critical stage that can see silver breakout of its flag and continue it's bull trend. The indicator that I love to look for longer-duration breakouts is the slow stochastics, specifically, when it becomes embedded or stuck on one side or the other side at the extremes. The last embedded nature for Silver on the daily chart occurred a year ago, late March 2023, that saw price on silver rise from 19.90 to 26.50. For three weeks, slow stochastic was embedded. We are at that point again with this rally. We are also at resistance from the wedge pattern. While I do think we can trade down in the early part of this week, I'm looking for support and a rally to kick us back into the overbought range and embed or "lock-in" price action. Gold has already embedded. I'm looking for silver to do the same and get us through the topside for a breakout.
COMEX:SI1!Long
by CeresTrader
Silver Surges as Market Anticipates Rate Cuts In a flurry of market activity, silver ( TVC:SILVER ) has emerged as a frontrunner alongside gold, propelled by expectations of impending rate cuts and a shifting investment landscape. With both precious metals experiencing a surge in demand, investors are flocking to commodities like XAU and NASDAQ:XAG , diverting cash from bonds in favor of tangible assets. Gold's ascent above $2,100 and silver's trajectory towards $24 reflect the growing optimism surrounding precious metals. Technical analysis paints a bullish picture, with silver completing a 50% retracement of recent corrections and finding support from the 200 moving average on the tradingview chart depicted. The formation of a bullish hammer candlestick pattern further bolsters sentiment, signaling a potential reversal in fortunes. Further ascertaining to Silver's Bullish surge, is the formation of a Symmetrical triangle pattern on the chart. As silver charts its upward trajectory, market observers closely monitor technical indicators for further confirmation of the bullish trend. The monthly chart hints at a bullish reversal in March following February's retreat, pointing towards sustained momentum for silver ( TVC:SILVER ) in the near term. Beyond technical signals, analysts foresee a promising outlook for silver ( TVC:SILVER ) demand in 2024, driven by a projected 1-1.5% increase in global consumption. Industrial demand is expected to lead the charge, fueled by growth in sectors such as photovoltaic (PV) and automotive industries. This surge in industrial usage, coupled with a turnaround in jewelry and silverware demand, underscores silver's ( TVC:SILVER ) resilience and versatility as a coveted commodity. With silver ( TVC:SILVER ) poised to capitalize on robust industrial demand and renewed investor interest, traders and investors are eager to capitalize on the metal's upward trajectory. As silver shines brighter on the investment landscape, its role as a strategic asset class is reaffirmed, offering investors a hedge against economic uncertainty and a gateway to potential profits in an evolving market environment. As the bullion boom gains momentum, silver stands at the forefront, ready to seize opportunities and pave the way for lucrative returns for savvy investors. Amidst shifting market dynamics and economic uncertainties, silver ( TVC:SILVER ) remains a steadfast symbol of resilience and wealth preservation, beckoning investors to embark on a silver-lined journey towards financial prosperity.
TVC:SILVERLong
by DEXWireNews
"Silver's 44-Year Cup and Handle Formation"Silver: 44-Year Cup and Handle Formation Points to Bullish Continuation Silver, a timeless asset with a rich history, is capturing the attention of investors as it forms a 44-year cup and handle pattern, signaling potential bullish continuation. The current compression of the handle, coupled with a bullish pennant setup, suggests that a breakout could herald the onset of the next major bull cycle. Let's explore the dynamics of silver and the promising prospects it holds for investors. Understanding Silver's Cup and Handle Formation Silver's cup and handle formation is a classic technical pattern characterized by a rounded bottom (the cup) followed by a consolidation period (the handle). This pattern typically signifies a period of accumulation and sets the stage for a potential breakout to higher levels. With the cup spanning 44 years, the formation holds significant historical significance and suggests a prolonged period of bullish sentiment. Compression of the Handle and Bullish Pennant Setup Currently, silver's handle is undergoing compression, indicating a tightening range of price movement. This consolidation phase is often accompanied by diminishing trading volumes, reflecting indecision among market participants. Additionally, the formation of a bullish pennant within the handle further reinforces the bullish bias, as it typically precedes a continuation of the prevailing uptrend. Breakout Signal for the Next Major Bull Cycle A breakout from the handle's compression zone is anticipated to signal the beginning of the next major bull cycle for silver. This breakout would validate the cup and handle pattern, confirming the bullish continuation thesis and potentially unleashing a significant upward move in silver prices. Traders and investors alike are closely monitoring key resistance levels for signs of a decisive breakout, which could mark a pivotal moment for silver markets. Conclusion: Positioning for Bullish Momentum in Silver In conclusion, silver's 44-year cup and handle formation, coupled with the compression of the handle and bullish pennant setup, suggest that the precious metal is poised for bullish continuation. As traders await a breakout signal for the next major bull cycle, strategic positioning and prudent risk management are essential for capitalizing on the potential upside in silver markets. With the historical significance of the pattern and the technical indicators aligning, silver enthusiasts are eagerly anticipating the next chapter in its enduring journey as a sought-after asset.
TVC:SILVERLong
by UnknownUnicorn2319099
Silver to 23.52, then 24.40 and ultimately 25.90Fundamentals backing this trade idea: - Silver as a seasonsal tendency to rise in the month of February - Looking at the Commitment Of Traders Reports, large commercial hedgers are decreasing their overall net short positions Thought process: Smart Money Concepts begin with adopting the 'Market Efficiency Paradigm' which is the idea that the market is either seeking liquidity or areas of inefficiency at a premium or a discount. I interpret the price run below 22.51 as smart money buying as a counter-party to traders who had market orders to sell the market at that price point (buying from sellers at a discount) To then offset some of their positions at 24.40 where there are willing buyers at a premium Any bearish candle that prints on the DAILY chart is viewed as a buying opportunity. I anticipate 'UP' candles to be broken through with low resistance and 'DOWN' candles to hold as 'support'
FOREXCOM:XAGUSDLong
by Randal-TraderState
2
SILVER (XAGUSD): Technical Outlook & Trading Plan 🪙 Silver is currently trading within a narrow horizontal range on a daily. 23.20 – 23.43 is the support of the range. 23.93 – 24.14 is the resistance of the range. Bullish breakout of the upper boundary of the range will give you a strong bullish signal. Daily candle close above will confirm the violation. A bullish continuation will be expected to 24.70 then. ❤️Please, support my work with like, thank you!❤️
OANDA:XAGUSDLong
by VasilyTrader
1