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Si1! (Silver Futures)

Silver, Symmetrical Triangle AnalysisSilver has slowly created a long-term Symmetrical Triangle Pattern. There is also a Strong Support that already did his job many times, so there's no doubt that it will continue doing it even after the Triangle Breakout will arrive. But now there's a even more important pattern doing very well ; the Rectangle is actually stronger than the Triangle and this pattern can be considered as a long-term Accumulation phase after the big downward trend finished at the beggining of 2016. What do i think it's gonna happen now? Well, i think that price is going to break the bearish resistance of the Triangle (the red line) and retest the resistance of the channel . In my opinion, the probability for it to break the long-term support (green area) is very low and just in the case it will, the area around 15 can be used as a new support level. Sky is not the Limit The informations and the strategies discussed are NOT recommendation to buy, sell or trade any securities. They are strictly for educational and illustrative purposes.
COMEX:SI1!
by UnknownUnicorn1249598
Preparing to Long Silver SIK SI1!SIK18 SI1! May Futures Comex Update Apr30 Silver is trading into a down sloping wedge. The surrounding BB's are suggesting a lower boundary, downward penetration. I believe support could be found at the 16.30 level with a SL under 21Mar swing low at (say) 16.15 The long entry should be taken on an upside break and close above the yellow wedge radian and ideally as close to 16.30 as possible, or better. Don't be over anxious. I also believe we may get a lower fake fade. Remember there is a lot of "good" news circulating at the moment to support a fake. Exit (TPs) will be at the (old) rising trend line that let me down last time &/or the horizontal (red) upper channel (circa) 16.80 So there is a 50c profit potential against a 15c loss or (say) 3:1 before costs. If you are trading warrants or options buy yourself some time (say) Sep or Dec (U or Z) and trail your stop coz there is Upper Resistance all over the shop! ... just my ("Round 2") 2c worth ...
COMEX:SI1!Long
by Oh_If_Only
1