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SILVERM1! trade ideas

Silver Futures (SI1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 22.005 Pivot: 20.425 Support : 18.905 Preferred Case: On the H4, with prices breaking out of the descending trendline , we have a bullish bias that price will rise from the pivot at 20.425 where the swing low and 61.8% fibonacci retracement are to the 1st resistance at 22.005 where the overlap resistance is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 18.905 where the pullback support. Fundamentals: Federal Reserve will have a hard time raising interest rates in an economy that is so soft. However, this is more likely than not going to be a false pretense, as inflation is still roaring.
COMEX:SI1!
by Tickmill
Silver Futures (SI1!), H4 Potential for Bullish RiseType : Bullish Rise Resistance : 22.005 Pivot: 20.425 Support : 18.905 Preferred Case: On the H4, with prices breaking out of the descending trendline , we have a bullish bias that price will rise from the pivot at 20.425 where the swing low and 61.8% fibonacci retracement are to the 1st resistance at 22.005 where the overlap resistance is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 18.905 where the pullback support. Fundamentals: Federal Reserve will have a hard time raising interest rates in an economy that is so soft. However, this is more likely than not going to be a false pretense, as inflation is still roaring.
COMEX:SI1!Long
by Genesiv
Silver - Golden Idea? We are at almost 200% regular volume in the Futures market and is completely divergent - that said JP MORGAIN $JPM can do whatever they want - as they control the silver market. Gold is at 130% of reg volume BTW. They blue and white lines in the RSI are indicting the increase of volume. This kind of volume is NOT common - while were moving up - we're being pulled up - not pushed. The day Silver makes a life changing move up - will NOT be during the NY session. I am short back to $18.50 where the weekly POC lies. www.wsj.com nypost.com mikesmoneytalks.ca www.bullionstar.com
COMEX:SI1!Short
by Maximilianned
Silver Seasonality In Sync with Intermediate Wave 2Silver should have completed a five wave move down on Friday; if not, it should complete the down move on Monday or Tuesday. The Elliot wave pattern coincides with one of silver's most bullish seasonal patterns. Over the past 54 years, silver has experienced some of its most significant annual gains between July 18 and September 21. If you bought and sold silver at these times every year over the past 54 years, you would have made a profit of 53.7% of the years with an annualized return of 21.12%. These are outstanding results for a trade window of only 6.5 weeks. The results are even better if we restrict our seasonality research to the most recent 10 years. Over the past 10 years, silver has experienced some of its most significant annual gains between July 19 and September 3. The win rate of this period is 50%, with an annualized return of 80.84%. While a win rate of 50-53.7% might not sound remarkable, this is the only time of the year when silver's seasonality is giving a historical annualized return of 21.12-80.84% for essentially a coin flip. And this year is far from a coin flip. Silver has retraced 32.31% over the past four months and has an oversold RSI reading below 30. This is also happening at a pivotal time in silver's Elliott wave structure due to moving from intermediate wave 1 to intermediate wave 2. Over the next 5-6.5 weeks, silver should rise to somewhere between $21.635-$25.465 (between the 0.382 and 0.786 Fibonacci levels). I have marked three vertical lines on the chart. The green line is when silver starts its historical bullish seasonal pattern. The first red line is when silver has ended its bullish seasonality over the past 10 years. The second red line is when silver has finished its bullish seasonality over the past 54 years. The red boxes between the horizontal Fibonacci levels and the vertical seasonality lines represent the approximate profit-taking zone. It's worth noting that while market seasonality can be very useful, there is no theoretical reason why it should repeat. Whereas there are theoretical reasons why Elliot waves exist and why oversold markets correct. Seasonality gives us a higher probability of making a profitable trade, but we must still watch the developing market structure rather than blindly following statistical patterns. We should get out when the market retraces a clear Elliot pattern and silver is no longer oversold, regardless of the price level.
COMEX:SI1!Long
by epistemophiliac
Silver chart analysisDuring the Asian trading session, the price of silver is in a strong bearish trend at $19.25. The current price is $18.62, representing a 3.00% decrease since the start of trading last night. A strong dollar affects all goods denominated in the US dollar. We are now looking for potential first support at the $18.50 level. And now, we will add two more potential lower levels as the following targets are $18.25 and $18.00. For a bullish option, we must first consolidate above $18.75. Then with a further bullish continuation, we could try to test the $19.00 level. And the break of the silver price above would be resisted by the space for targets at $19.25 and $19.50 levels.
COMEX:SI1!Short
by Financebroker
Silver chart analysisThe price of silver continues its sideways movement in the $19.00-$19.50 range. During the Asian trading session, they were below the midpoint of $91.25. It could be said that the price of silver will retest the support at the $19.00 level. For a bearish option, we need a drop below $19.00; after that, we can expect a continuation of the bearish trend. Potential lower targets are $18.75 and $18.50 levels. For a bullish option, we need a new positive consolidation, and a return above $19.25 left first. Then we can expect growth to the upper resistance zone at $19.50. A break above would increase optimism that we can see further price recovery towards the $20.00 level.
COMEX:SI1!
by Financebroker