yesterday morning i also bough silver but ut didn't reached my target but able to cross above the 37 leaves and closed with few pips of profit not able to understand silver movement
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yesterday morning i also bough silver but ut didn't reached my target but able to cross above the 37 leaves and closed with few pips of profit not able to understand silver movement
There is lot potential in silver investments it is flirting around 30$ since some time - may be in bad time it may go down 1-2$ but here is a good support and any good news like industrial growth may add wings to the prices and we may see 50$ mark in 2012 itself.
Today silver was moving on footstesps of gold but it was looking really smart as it did not act as beta today and it is getting good buyers in the range of 29-30 which is good going ahead for the bulls. Just waiting for some positve news and silver may be heading again towards 32-34$.
Silver moves in a similar way like gold and both of them are commodities. I have noticed that the dollar and fundamental news are the two main things that a trader needs in their gold trading analysis.
The fundamentals is still the main thing that you need to trade silver and other commodities that you have mentioned here. Technicals is also important in traing of silver, but the most important is fundamental news.Quote:
Originally Posted by jg6073727
Me not understand. IF you buy Silver, you ARE buying all those other commodities - indirectly. I would never (whilst awake) buy Silver without having an eye on those other charts to get a 'feel' for what is happening. Why it might just be Blaise getting rid of a few past 'mistakes'!
The trading range for today is among the key support at 27.50 and key resistance now at 31.25.
The short-term trend is to the downside with steady weekly closing below 38.00 targeting 20.05.
http://i48.tinypic.com/2mn5efa.gif
Recommendation : Based on the charts and explanations above, our opinion is selling silver around 29.60 and taking profit in stages at 28.85, 28.10 and 27.50 and stop loss above 30.40 might be appropriate
In asian market session ago silver had retraced up from dayly pivot level (29.11).
If the price up continue trend, it may touch monthly suport 1 level at 29.55.
Below trend analysis today with ma system:
ma 16 as short term trend indicator= cocsolidation
ma 96 as medium term trend indicator= sideways
ma 480 as long term trend indicator = down
So the trend is sideways short term.
In mreinstein stochastic signal tf h4 look will down .Sell position for short trader is recomendated but wait until price touch monthly support 1 level at 29.55.
1. Trend analysis today with sma system:
sma 16 as short term trend indicator = down
sma 96 as medium term trend indicator = down
sma 480 as long term trend indicator = down
So the trend is down strong.
2. Pivot,ressistance and support level this day:
p: 29.15
r1: 29.34
r2: 29.64
r3: 29.83
s1: 28.85
s2: 28.66
s3: 28.36
3. Since opening market, silfer felt to dayly support 2 level ,yesterday ma 16 had crossed ma 96 that confirmed that silver will go down medium term. It estimated that price go down until dayly support 3 level..
The metal reached the level of 28.50, but wasn’t able to provide a daily closing below it, but due to the same negative factors , including stability below the main support of the downside movement and also below EMA 20, adding that MACD is negative, which supports our expectations.
http://i46.tinypic.com/124eygz.gif
Recommendation : Based on the charts and explanations above, our opinion is selling silver around 29.60 and taking profit in stages at 28.85, 28.10 and 27.50 and stop loss above 29.90 might be appropriate
Spoiler: