LONG Silver Via Projected Target SL Close Blow 16.00
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Good Afternoon
LONG SILVER Via Projected ON CHARTS
Target One approx 18.00
Target Two Approx 19.00
Target Three Approx 19.50 To 20
Place Stop Close Blow 16.00
All Target which is given only above closing based if close above and reateced sucessfully hold these levels then target executed.
With Regards
Rupesh
Disclaimer::: Please Trade With Stop
Before Any Trade Do Self Anlysis then Trade
This Projection This is My Personal Anlysis or View Which is based on BRW , Wave, Trend Line Theory and other Tech.
Good Afternoon
LONG SILVER Via Projected ON CHARTS
Target One approx 18.00
Target Two Approx 19.00
Target Three Approx 19.50 To 20
Place Stop Close Blow 16.00
All Target which is given only above closing based if close above and reateced sucessfully hold these levels then target executed.
With Regards
Rupesh
Disclaimer::: Please Trade With Stop
Before Any Trade Do Self Anlysis then Trade
This Projection This is My Personal Anlysis or View Which is based on BRW , Wave, Trend Line Theory and other Tech.
Trade ist aktiv:
Tech update later
Kommentar:
Friend My Revised Stop Loss 15.60
Kommentar:
Tech Update
Gold Stocks & Silver Nearing Relief Rally
The past few weeks have been rough for precious metals. Gold had climbed all the way to $1297/oz but the other parts of the sector (Silver and the gold stocks) failed to confirm the move. They have since fallen off a cliff. Over the past 14 days, GDX has lost 15% while GDXJ has declined 20%. Silver during that span has declined every day. Yes, Silver has declined 14 consecutive days. Gold still has some “catching down” to do (with the rest of the sector) but the gold stocks and Silver are oversold and nearing a bounce.
We plot the daily bar charts of our in-house junior gold index and GDXJ below along with GDX. The junior sector has been hit especially hard partly due to news that GDXJ, because of massive inflows will be cutting its stake in various juniors and investing in larger companies. Regardless of the why, the charts are the charts and much damage has been done. However, both junior indices have a bit more downside potential before testing strong support. GDX has good support roughly 4% below Thursday’s close.
Silver, as we noted, is down 14 consecutive trading days and nearly 13% over that period. This week Silver has lost 5.6% and sliced below key long-term averages. While the broader trend is lower, Silver is very close to testing strong short-term support from $15.90 to $16.13. That is another 1%-2% lower for Silver, which could then face resistance from $16.90 to $17.20.
Overall, both the gold stocks and Silver are oversold and nearing a bounce. We say nearing because another day or two of selling is possible before a bounce. Gold meanwhile, has key support at $1220/oz but the gold stocks have already priced in sub $1200/oz Gold. Although the gold stocks are setup to bounce this month and we see a few opportunities, we expect another opportunity and a better one in the middle of summer.
Gold Stocks & Silver Nearing Relief Rally
The past few weeks have been rough for precious metals. Gold had climbed all the way to $1297/oz but the other parts of the sector (Silver and the gold stocks) failed to confirm the move. They have since fallen off a cliff. Over the past 14 days, GDX has lost 15% while GDXJ has declined 20%. Silver during that span has declined every day. Yes, Silver has declined 14 consecutive days. Gold still has some “catching down” to do (with the rest of the sector) but the gold stocks and Silver are oversold and nearing a bounce.
We plot the daily bar charts of our in-house junior gold index and GDXJ below along with GDX. The junior sector has been hit especially hard partly due to news that GDXJ, because of massive inflows will be cutting its stake in various juniors and investing in larger companies. Regardless of the why, the charts are the charts and much damage has been done. However, both junior indices have a bit more downside potential before testing strong support. GDX has good support roughly 4% below Thursday’s close.
Silver, as we noted, is down 14 consecutive trading days and nearly 13% over that period. This week Silver has lost 5.6% and sliced below key long-term averages. While the broader trend is lower, Silver is very close to testing strong short-term support from $15.90 to $16.13. That is another 1%-2% lower for Silver, which could then face resistance from $16.90 to $17.20.
Overall, both the gold stocks and Silver are oversold and nearing a bounce. We say nearing because another day or two of selling is possible before a bounce. Gold meanwhile, has key support at $1220/oz but the gold stocks have already priced in sub $1200/oz Gold. Although the gold stocks are setup to bounce this month and we see a few opportunities, we expect another opportunity and a better one in the middle of summer.
Kommentar:
Our Target one Achieved
Kommentar:
Silver high 17.00
Overview
Silver price is showing more decline to move away gradually from 16.61 level. This reinforces the expectations of a further decline in the short term. The way is open towards 16.00 that represents our next main downward target. Therefore, the bearish trend will remain valid on the intraday and short-term basis, supported by the negative pressure formed by the EMA50. Please be aware that breaching 16.56 will stop the current negative pressure and enable the price to start recovery attempts in the short run. The expected trading range for today is between 16.00 support and 16.61 resistance.