A high-time-frame analysis of Silver.
Observations
Thesis
Supporting facts for thesis
This thesis is invalidated if we break 17 USD!
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My count is somewhat high-time frame but check out this idea of hypersonic 78 who looked at decades. It aligns with my idea well.
Observations
- drawn out correction since impulsive wave 1 in summer 2020 which unfolds in an ABC-manner
- corrective patterns flat and running flat had already been invalidated by the higher high of the b wave
- we are currently in wave 3 of wave 5 of the c leg
Thesis
- together with a rebounding equities market Silver will push upwards a little bit to the 22 USD region. completing wave 4 of 5 of C
- then a sharp drop will follow that either stops below 20 USD or at the golden pocket at the 17 USD area
- this could be followed by an impulsive upmove which would be wave 3 and could carry us to 35 USD which aligns nicely with resistance area
Supporting facts for thesis
- Seasonality: May is a weak month for silver; June a strong one
- slight overhang of longs in the COT report; they might get flushed first
This thesis is invalidated if we break 17 USD!
+++
My count is somewhat high-time frame but check out this idea of hypersonic 78 who looked at decades. It aligns with my idea well.
Nota
Silver has reached a pivotal area and just printed a 4h-reversal candle (hammer). If price nukes from here, wave 5 of y has started.Nota
Silver is hovering above the Golden Zone. The recent run up looks like a C up of wave 4. I expect Silver to reach the Zone eventually.Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.