Silver just made a new low in overnight trading. If you've got dry powder & you're not buying here, I can't help you. $53.85 is 1st resistance. I'm ready for this nightmare to be over. LFG!!!
Silver continued it's consolidation/bottoming in overnight trading. Just off the lows of the night now. 1st target is the 50MA at around $54.40. LFG!!!
This is the structure that $SCZM has created from March through October of this year on the hourly chart. A beautiful Inverse Head & Shoulders ready to explode higher IMO.
Well, I'm calling that a wrap. Not saying Silver won't come back down to this area after a bounce but, I don't think it will go lower.
This is just ugly. 1st support at $55.75 then $55.43 then the most recent bottom of $55.38 and if I know Silver, it will likely pierce the most recent bottom if it can. The Silver Bull bucks all riders.
Silver approached the down trend line yesterday but was rejected at the 210MA. Now back down at the consolidation area. Needs to break $58.35 and remain above a while before it can be let go again. Sell season ends soon. LFG!!!
Silver still consolidating below the down trend line its been following since 8/28 in overnight trading. $58.70 is the area we need to break above and remain there to confirm the next leg up has started. LFG!!!
Silver made a hard bounce at open last night then followed through with a continuous move up through the night until the last hour where it seems to be taking a breath. Resistance should be around the $59 mark today & the squeeze toward that line is on. LFG!!!
Silver Slowly Stair Stepping up as Suggested. (Say that 5X fast 🤣) Broke through the 50MA and now onto the 70. But the real test comes at the down trend line we've been riding for weeks now and the 210MA its sitting on around $59.50 atm. LFG!!!
Yesterday's assault on the silver price started recovering in overnight trading. Some believe it's going lower. I'm not one of them. Regardless from a risk reward perspective, this is a phenomenal spot to add or back up the truck for the inevitable move back up. LFG!!!
In my limited experienced opinion, the bottoming process in Silver is completing. To me this appears to be a classic double bottom pattern. And with buy season just around the corner I think we'll begin to slowly stair step up again into year's end. Not financial advice. LFG!!!
I went back a ways and cannot find another time when Silver was more oversold on the hourly. This has to reverse soon.
GSR has overshot my target of 72.1:1 which I figured it would. Now, I believe it will come back down from here. Metals should be bought here in size.
Correction: GSR headed to 72.1:1 Not 71.1:1 xitter.cf/tbones2013/status/2110…
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