Silver (FOREX:XAGUSDO) Archives - Page 14 of 16

Silver Update: This Cup Should Refresh Bulls

Posted on March 9, 2016 by Aibek Burabayev

Code Orange

In my previous post I warned bears to be alert to the changing trend as strengthening signals started to appear for Silver. This month I think the proper code for the current bear market is orange. The orange level requires sellers to be prepared for the anticipated worsening of conditions.

Chart 1. Silver Monthly: Second Attempt to Break Up

Monthly Chart of Silver
Chart courtesy of tradingview.com

I added the Fibonacci retracement level on the chart to show you how deep the silver price drop is. The 78.6% is usually the last level of correction, where most buyers have already jumped out of their long positions. The metal stopped falling right above it. For comparison, gold retraced only 50% of the rise and it has some room for further weakness. Continue reading "Silver Update: This Cup Should Refresh Bulls" →

Silver Update: Killing It Softly

Posted on January 29, 2016January 29, 2016 by Aibek Burabayev

Experiment Results

It's time to check the results of my silver analysis. Back in November, I wrote an update on silver, in the first part of which I made an error analysis session of an earlier post and in the second part I added an experimental clone chart. There were two calculated targets: a price target and the time target.

In December, I was out of patience and was going to write a post once silver hit the price target. But it was crucial to wait until the time came to check both results on the date outlined in my earlier post. Below I've included the experimental clone model chart from my earlier post and added fresh comments highlighted in red to show the results and changes for your convenience.

Chart 1 Silver Weekly: Amazing Math

Silver Weekly Chart
Chart courtesy of tradingview.com

What do we see? Let’s start from the pleasant result. Yes, the price target was hit accurately almost cent to the cent: The $13.65 projected target versus the actual low of $13.63 in December. I was really surprised by this outcome as it strengthens my confidence in the world of numbers. By the way, the AB/CD concept target ($13.7) from my September post has also been hit. Continue reading "Silver Update: Killing It Softly" →

Silver Update: Risk/Reward Ratio Favors Longs (1:4)

Posted on October 5, 2015 by Aibek Burabayev

Back in September, I posted a Silver update with the very promising title, "The Time Has Come," where I suggested both target and time for this fading downside move. The target at the $13.7 level hadn’t been reached as buyers did not wait to buy on the dips and had followed Gold to the upside beyond $15, but the time goal (which I stressed in the title) worked out perfectly according to the Fibonacci time zone extension. The downtrend exhaustion appeared in September and it has been really wasting away as not only the low, but also the high of September have both been trapped in the shadow of August (margins have been highlighted in two black dashed parallel horizontal lines). Below the chart, I am going to expand on the prospects of the current reversal.

Silver (FOREX:XAUGSDO)
Chart courtesy of TradingView.com

Laozi said, “A journey of a thousand miles begins with a single step” and the above daily chart shows us important details that can’t be seen on the monthly chart. Here we can see the last steps of the previous “journey” down and the first “step” for the way up. Continue reading "Silver Update: Risk/Reward Ratio Favors Longs (1:4)" →

Silver Update: The Time Has Come

Posted on September 11, 2015September 11, 2015 by Aibek Burabayev

The less you watch, the more you see the whole picture. The last time I posted a Silver update was three months ago, and nothing much has happened in the market, but the attitude has changed with a fresh look. Let's take a look at the details on the chart below.

FOREX:XAGUSD
Chart courtesy of TradingView.com

In my last Silver update, I had said that in the current downtrend it was preferable to take short positions with good protective stops just above resistance and the range had been defined within the $15-18.5 margins. Indeed, the price had broken below the $15 support level and dipped lower, testing the December 2014 low at the $14 level which would open the door to interim support at $12 level. This attack was repelled in the previous month and the market closed almost in between the $14-15 level at $14.60. Continue reading "Silver Update: The Time Has Come" →

Silver Price Could be Headed to $12

Posted on April 23, 2015April 23, 2015 by The INO.com Team

Written by: Octafinance.com

Even though we are long-term bullish on gold and silver we are negative medium-term. The Silver chart shows a technical setup with a possible target of a $12 per ounce.

Long-Term Silver Price Chart Still Positive

There is so much to see on the silver chart that we feel obligated to share our interpretations for the future price movement. We will start with the big picture. The whole move of 180%+ from $18 to $50 between 2010 and 2011 had only a minor correction. When the price crossed the upper channel of the long-term chart going back to 2002, it alerted us that silver is out of sync with normal markets.

Source: Rightedgesystems + Octafinance Interpretations

Of course as with any parabolic movement, the trend was not sustainable. Silver couldn’t break $50 per ounce barrier and sellers' came. The CME also increased the margins which forced all longs to cover (sell), as the sentiment was more than positive “98% of all traders were bullish silver” according to the Daily Sentiment Index (DSI). What happened after that is obvious from the chart, silver experienced a few technical setups that all broke down, reverting the parabolic movement to the upside down. Now based on the long-term support line formed during the last 13 years, we have a support around $11-$12 per ounce. Continue reading "Silver Price Could be Headed to $12" →

Tag: Silver (FOREX:XAGUSDO)