An effective candlestick pattern can be witnessed in Silver on a weekly time frame - The 3 bar play. A momentum buildup is in progress and the trend is expected to reverse. Silver has also given a breakout of it’s resistance of 58986 with good levels of volume.
We expect a rally up to the levels of 61294-62660 in coming weeks.
The above analysis is just for...
Silver : silver run in a pattern. From start of 2015 to mid 2020 was in the range 35000 to 49000 approx, after this range breakout silver entered in another range from sep'20 .. range of this new pattern is 55000 to 75500. Currently silver is trading around 59200, so it seems good time to invest in silver ..as range suggest in short term we can se 75000-76000...
ABCD pattern of harmonics is active price between 57000-58000 can be a good opportunity for a pullback trade. SL is reasonably small and RR os 1:3 With potential targets of 61000. Lets see!! Silver to the MOOOOOOOONNNN!!!!!!
Silver long (09 Aug)
RSI- 59
Buy at CMP- 58900 or at 58770
SL- 58500
Target- 59388, 59785
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Just placed my idea in Position drawing.
Red Zone: Resistance or Breakout Zone
Grey Zone: Repeated Hurdles (Support/Resistance)
Green Zone: Support or Breakdown Zone
Note: BUY above Red Zone
BUY at Green Zone.
SELL at Red Zone or Trail at Grey Zone
Just follow the Entry & Exit. Trail SL after 1:1 to Cost + Brokerage.
Also you can ask for my views on any chart.
Its a running short trade. Just sell it with a SAR (Stop and Reverse) in the buying line.
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks",...
Silver Short (01 Aug)
RSI- 43
RSI divergence
Sell at CMP- 58340
SL- 58570
Target- 58060, 57712
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Silver Short (01 Aug)
RSI- 62
RSI divergence
Sell at CMP- 57995 or around 58150
SL- 58450
Target- 57400, 57100
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MCX:SILVER1! NO FAVOURABLE CHART PATTERNS, NO TECHNICAL SIGNS OF REVERSAL.
Can a contra bet of long positions be initiated at current levels ?
Well, the retail investors looking for diversification of their portfolio's, have a great opportunity to add silver futures. The risk reward ratio is favourable at current rates plus there is a high chance of bounce back...
Silver Long (26 July)
RSI- 41
Buy at CMP- 54520
SL- 54350
Target- 54710, 55010
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Disclaimer- We are not SEBI registered advisor.
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Silver Mini MCX On 15 Mins Time Fame Chart is Consolidating between Range 57800- 56500, Breakout is Awaited Either side of the Range, Till Then one Can Sell around Higher side or Range and Buy on The lower side of the Range. As the Major Trend is down Currently, If Silver Mini MCX Contact closes below 56500 We have see Further sell off
Silver With Declining Weekly Volumes / Bullish COT Reports / Sweet Channel and Horizontal Support ALL nicely lining up now. It is ready for TURNING UP ON WEEKLY charts.
But as Always COT Reports and Weekly Charts Takes Time to Turn. I am taking that as 2-4 Weeks Time. Keep an Eye on Daily/240 Mins Momentum Turning UP.
58000 acted as a strong support before
High chances are it will act as a strong resistance this time
So sell near area 58000
Sl near area 58150
Target around 56000
![SILVER1!: [Commodity] Silver Overview](https://s3.tradingview.com/c/CPM2wWx7_mid.png "[Commodity] Silver Overview")
