silver analysis Archives - Page 14 of 16

Silver Update: Who Shot The Sheriff?

Posted on November 2, 2015November 3, 2015 by Aibek Burabayev

Silver started October with a long bullish candle. The next day I wrote a post that Silver could reach higher highs, and long positions are favorable from the risk/reward point of view. The metal rocketed more than $1 from the posted price ($15.229), but caught the “bullet” in the sky and fell “dead”.

Below is the reconstruction of my chart from that post to see where the metal reached and what levels were broken back.

Silver Daily: After Crash

Daily Silver Chart
Chart courtesy of tradingview.com

Silver has managed to overshoot the distance of the green ab segment by 0.382 (at 1.382 Fibonacci expansion ratio) and has outweighed Gold’s progress that it couldn’t overshoot. The entire segment has fit into a single month of October from the trough to the peak on October 28th. Gold peaked earlier on October 15th and didn’t make new highs after that. Continue reading "Silver Update: Who Shot The Sheriff?" →

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 Is In Fashion But Not For Investors

Posted on June 19, 2015June 19, 2015 by Aibek Burabayev

This week I have prepared a Silver macro data analysis with diagrams and added a technical outlook for "dessert".

Supply and Demand

Silver Supply and Demand

Chart: Aibek Burabayev; Data source: GFMS, Thomson Reuters / The Silver institute

Back in 2005, both supply and demand for Silver were below 1 billion ounces (Boz) and were well balanced with a small deficit of 7.3 million ounces (Moz). Since then they have risen with different speed and in 2014 both broke up that level. As seen on the chart above, the supply of Silver is quite stable with a narrow 889-1073 Moz range in past 10 years. 2010 (growth in mining and scrap supply) and 2014 (10 year record mining production) are the highest years of supply. Continue reading "Silver Is In Fashion But Not For Investors" →

Gold and Silver: Catch The Wave Up

Posted on April 22, 2015April 22, 2015 by Aibek Burabayev

Gold

4H Gold Chart
Chart courtesy of Tradingview.com

Last week, the Gold short trade was stopped above $1200. Price immediately broke back above the head and shoulders neckline beyond $1200 and that was it. Stops are a good risk management instrument, they should be set at once and should be tight to protect your capital.

Today I prepared for you a totally new idea with a fresh look. I combined a classic trend model with the Elliott Wave technique and it is shown according to the long-term model posted at the start of this month.

Gold charted a good upside impulse wave 1 (of A) from the March low at $1142 up to the intermediate high at $1224. Then a correction wave 2 emerged and price retraced down to the 50% Fibonacci area at $1184. Usually, the 2nd wave corrects down to 61.8%-99% of the 1st wave, but this time we have had only half of it which means that the market accumulated enough bullish momentum to continue higher. Continue reading "Gold and Silver: Catch The Wave Up" →

Gold And Silver: The Bulls Failed

Posted on March 31, 2015March 30, 2015 by Aibek Burabayev

Gold - Classic Chart

Daily Gold Chart

Another profitable week for the bulls ended and so did the upward momentum. Price elevated for a decent $40 from my last post and almost touched the $1223 resistance area on Thursday, but failed below $1220 and then quickly retraced down for $15 to a $1204 close.

The rule of the game is set so that if you don’t keep buying to push the market up, sellers will appear and you would be buying all the way down. Once weakness appeared, the bears took the ball and started their own game, pulling the price down from recent highs. Monday brought more selling pressure to the game and the price is now below the first support level at $1190 (former resistance, highlighted in green). If we close below $1190, then I would not rule out price reaching $1170/$1131 supports. Sellers can benefit from the trade lower, with a stop set just above $1200 and take profit put above $1131. $20 of risk versus $55 of profit, a sound ratio. Continue reading "Gold And Silver: The Bulls Failed" →

Tag: silver analysis