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Silver... support levels?
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Re: Silver ,,, support levels ?
SILVER .............
What a posture ..............
Can anyone say .... Ascending Triangle ?
Well , that what it looks like if this starts holding up this week ...
Will it hold ... I don't know ,,,,
SILVER .............
What a posture ..............
Can anyone say .... Ascending Triangle ?
Well , that what it looks like if this starts holding up this week ...
Will it hold ... I don't know ,,,,
I am merely attempting to show where significant support and resistance lines are .....
..... These lines work well only when they are tied to certain Elliott Wave structures and certain Fibonacci Retracement levels ..... outside of this they become less reliable...... a whole lot less reliable .
This is exactly the reason why you could never back test a particular stock or commodity for these lines without these 2
basic theories of understanding. NOT ALL CHART PATTERNS ARE TRADEABLE .
(This depends on your trading strategy or trading style )
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
..... These lines work well only when they are tied to certain Elliott Wave structures and certain Fibonacci Retracement levels ..... outside of this they become less reliable...... a whole lot less reliable .
This is exactly the reason why you could never back test a particular stock or commodity for these lines without these 2
basic theories of understanding. NOT ALL CHART PATTERNS ARE TRADEABLE .
(This depends on your trading strategy or trading style )
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …
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Re: Silver ,,, support levels ?
Market,
interesting behaviour by silver over the last few years. A huge penant being formed and the pressure is increasing exponentially. Looks like it will shoot up short term but long term, it looks to be driven by speculation and doomed to failure. Its showing too much divergence for me to think that it will go up and stay up. Interesting implications for Gold and the USD. I've drawn gold in and it seems to follow gold's movement closely. I had to go the monthly charts to be able to see things more clearly.
Just my opinion.
Market,
interesting behaviour by silver over the last few years. A huge penant being formed and the pressure is increasing exponentially. Looks like it will shoot up short term but long term, it looks to be driven by speculation and doomed to failure. Its showing too much divergence for me to think that it will go up and stay up. Interesting implications for Gold and the USD. I've drawn gold in and it seems to follow gold's movement closely. I had to go the monthly charts to be able to see things more clearly.
Just my opinion.
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Re: Silver ,,, support levels ?
May I know what is the uses of Silver in industry or as a commodity??
May I know what is the uses of Silver in industry or as a commodity??
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Re: Silver ,,, support levels ?
Silver is used primarily in old fashioned photography in developing the images, a lot of concern was that silver usage would drop, but I think that it will be absorbed into other areas
Silver statistics
more silver
Silver is used primarily in old fashioned photography in developing the images, a lot of concern was that silver usage would drop, but I think that it will be absorbed into other areas
Silver statistics
more silver
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Re: Silver ,,, support levels ?
Silver has potential major application in water purification and possibly in electrical power transmission since it's more conductive than the alternatives which reduces losses in transmission. (Depending on your location, a few % of the electricity generated in major power stations is lost in transmission and by the time it gets to your home in the suburbs around 10% is often lost. In some situations this can go much higher (over 20%) although if you live next door to a major power station then it's going to be a lot lower...).
In addition to film (non-digital) photography which is a substantial use (although much of this is recycled which is highly significant from a market perspective - the actual consumption being lower than would at first appear) silver is also used in burns treatments in hospitals, jewellery and for the manufacture of electrical contacts and in electronics. It is also used to make some types of small batteries. Even your computer keyboard contains a tiny amount of silver.salz said:
Silver has potential major application in water purification and possibly in electrical power transmission since it's more conductive than the alternatives which reduces losses in transmission. (Depending on your location, a few % of the electricity generated in major power stations is lost in transmission and by the time it gets to your home in the suburbs around 10% is often lost. In some situations this can go much higher (over 20%) although if you live next door to a major power station then it's going to be a lot lower...).
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SILVER ....... 8-19-05
Now this is a base ....
This is what trading is all about ......
finding sound bases or so called consolidation ......
will this hold up ?
only time will tell now ......
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective. This information is for educational purposes and should not be considered trading recommendations. All trading decisions are your own sole responsibility …
Now this is a base ....
This is what trading is all about ......
finding sound bases or so called consolidation ......
will this hold up ?
only time will tell now ......
TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliott Waves which are highly subjective. This information is for educational purposes and should not be considered trading recommendations. All trading decisions are your own sole responsibility …
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silver selling in impulsive legs, breaking several typical support ratios
gold appears to be forming a standard techy triangle targeting sub 1200's
gold appears to be forming a standard techy triangle targeting sub 1200's
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and here's one we prepared earlier ...bulls look away now
the bulls can take heart that on reaching the low of the proposed tri price should rotate to make new bounce highs ...eventually.....thru 1500's that should end the multi month interruption to multi month downtrend
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ii
refer to above Tri chart
in the gold/xau Tri idea.
for it to be valid, the low of "C" must not be taken out by the low of "E"
or it will cancel the orthodox idea for new highs and introduce the simple idea that we have a rolling top formation at which point it becomes the "uh-oh" point of recognition and selling will increase
#knowyourunclepoint
refer to above Tri chart
in the gold/xau Tri idea.
for it to be valid, the low of "C" must not be taken out by the low of "E"
or it will cancel the orthodox idea for new highs and introduce the simple idea that we have a rolling top formation at which point it becomes the "uh-oh" point of recognition and selling will increase
#knowyourunclepoint
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...just a simpler view of support and resistant lines for Silver. I haven't looked at Silver for ages, not much is happening really but whatever, here is a chart just for fun.
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there are no close-by substantive rotation points, silver continues to impulsively travel (pro-regressive) accomp by gold/xau
xau (front month contract) has two levels 1269's 1229's for a decent swing prob daily rotation sub 1180's
xau (front month contract) has two levels 1269's 1229's for a decent swing prob daily rotation sub 1180's
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exited STO today, bids propping up price, some tiny rotation qualities but more a pause in the swing
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tiny size ....looking for qualities in the move(s) a nice curve up into an impulsive leg or overlapping pause in a downtrend (relative)
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no bids, just an interruption to current sell .....back to STO
surrogate rotation in xau front month contract is 1274
offers hold
surrogate rotation in xau front month contract is 1274
offers hold
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A holder of STO myself but did not realise if STO Santos is also making silver to be placed on this thread
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ahA holder of STO myself but did not realise if STO Santos is also making silver to be placed on this thread
Sell To Open
Buy to Open
Sell to Close
Buy to Close
STO a short
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depending which paper is being used to trade the implications remain the same
i'm still holding sells on gold until a convincing bid hits, conversely silver is squashed at the pointy end of an ABCDE tri that also calls for a text-book Wolfe wave move (north) clearly defining risk for long entry
the question i keep asking is this good sign for silver longs or bad sign for gold sellers to get trapped (both?) ....the break down in the gold wedge is tending the highlight that the wedge has not conformed like silver so we could also be seeing the industrial metal rise while the speccie metal lags
#observations
i'm still holding sells on gold until a convincing bid hits, conversely silver is squashed at the pointy end of an ABCDE tri that also calls for a text-book Wolfe wave move (north) clearly defining risk for long entry
the question i keep asking is this good sign for silver longs or bad sign for gold sellers to get trapped (both?) ....the break down in the gold wedge is tending the highlight that the wedge has not conformed like silver so we could also be seeing the industrial metal rise while the speccie metal lags
#observations
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