Silver has been persistently bearish. Commodity prices, gold and silver have all been in a downtrend as the USD surges in the risk aversion environment in May. The moving averages are in bearish orientation, and the RSI is below 30. This means the market is bearish, but maybe in the short-term is a bit stretched to the downside. Can we expect a pullback?
function googleTranslateElementInit() { new google.translate.TranslateElement({ pageLanguage: ‘en’ }, ‘google_translate_element’); } Silver Technical Update Previous: Silver Shows Bearish Continuation Candle; Will it Stick ? (3/21) XAG/USD (Silver) The 4H Silver chart shows a range-bound market. Resistance can be seen at (R1: 33.05, and R2: 33.25). Support can been see at (S1: 31.15, S2: 30.97). Within this…
Silver slid during the 3/20 global trading session. The daily candle basically engulfed the previous three daily candles that were going against the bear run from 37.44. We can consider it a bearish continuation signal toward the next support area that starts near the 31.00 handle down toward 61.8% retracement at 30.44…
After Bernanke’s Testimonial to congress on Feb. 29 left out mention of QE3, commodity prices dropped as the USD gained. The expected affect of QE3 would have been the opposite (weaker USD, stronger commodities). For silver, this fundamental trigger came after it has rallied above a declining trendline that connected the 49.76 high on 4/25/2011 and the 44.16 high on 8/22-8/23…
Silver has been rallying since failing to break below 26.00 barrier (actually more like 25.96). It has broken above a pennant in the 2/19-24 trading week, but is now trading at a resistance cluster at 35.70. Here is the October 2011 high and resistance pivot. It is also the declining trendline connecting the 2011-high of 49.76 and the Aug. 2011-high of 44.16. At this resistance cluster, silver has slowed…
By Jonah S. Ford A nice technical breakout was spotted by Autochartist in the silver market early in Tuesday’s trading session. Following a prolonged move higher inside of a textbook Channel Up chart pattern, the price of the nearby silver futures turned lower to breach the trend line support and trigger the sell signal. As…
By Jonah S. Ford Silver futures pulled back slightly in Thursday’s session after a strong run for the week. The retracement is occurring after a touch of resistance provided by a Triangle chart pattern forming on the 30-minute time interval. Autochartist is tracking the developments on the emerging patterns platform, with a projection for a…
By Jonah S. Ford Silver geld steady through a broad commodities sell-off in Thursday’s trading session, hinting at intrinsic strength in this market. Silver futures have been grinding higher inside a Rising Wedge chart pattern identified on the Autochartist 240-minute emerging patterns platform. The price is fast approaching the apex of this Rising Wedge to…
Silver has been sliding and found support near the 2011 low (26.07), at about 26.15. This 26-26.15 area provided support January, then in September and now again as the year winds down. The daily chart shows maintenance of bearish momentum since price broke below the 200 day simple moving average, so even if there is a short-term bounce from the 26 support area, there is still downside pressure…
Silver tried a few times to crack above the 200 4H simple moving average but remained bearish after the failed attempts. The RSI also failed to sustain the break above 60, reflecting maintenance of the bearish momentum. Now the the market is following through a break of a consolidation support seen more clearly on the daily chart…
How on earth can Philly Fed EMployment index drop to -1.3 from 17.9 ? who compiles these things ?? #forex #macro
Listening to White Rabbit by Jefferson Airplane -v. topical re: pinball-y market
Trends do not have to be aggressive to be relentless suspect $DJIA is (iii of 3) like $AUDUSD has been last few weeks..slow but sure $ This! RT @CVecchioFX Mind boggling and absolutely backwards that market rallies on poor growth data...$FED (cont) http://t.co/hMrJxJW6 **BOE Fisher: Would Be "Uncomfortable" With Continued GBP Appreciation (via DJ) Good bye Awfully disappoining Philly Fed at -5.8 vs exp 10. LEI -0.1 #forex
$GBPUSD Shed more weight after PM Cameron's remarks that Euro Zone must “make-up or break-up” and that a collapse would hurt the UK economy
USD/MXN stalling at resistance now - another chart coming in 7 minutes http://t.co/1JMTooeo RT @alaidi: starting to think $EURGBP can do mid 60s =||= Interesting - maybe a touch of resistance first? http://t.co/T66MKfMF Keep your eye on these levels - they're really all that have mattered lately (USD/CAD at resistance) http://t.co/qwMiwacS Thinking about selling some USD/CAD? Here's a chart for you: http://t.co/8rDw3OSv Buy-Time for NZD/JPY? It's showing some Arizona Rules counter-trend divergence on 5M: http://t.co/DW9STU47 #Bankia has called on depositors to remain calm, responding to today's reports that over €1bn had flowed out in recent days #forex €€€ leaking of Spain too. #Bankia, just nationalised last week, said to hemorage € 1bn in withdrawals #forex What @vicky_malhotra Which pair in particular? It does look OB across the board Fed ahead of the artificial growth, FX devaluation curve RT @conorsen Really enjoying the divergence of views (cont) http://t.co/KlJqONB7
$USDJPY is the only pair in which traders are not short the USD. Ratio at 4.3 longs per short. I'm not bearish, however, as pair range-bound
Although U.S. jobless claim figures missed market expectations, they're still holding at the lowest rate since 2008. Extreme RSI and Rate of Change measures on $USDOLLAR emphasize that the risk of short-term pullback is high, but I'm looking to buy dips. $USDOLLAR http://t.co/6UHs6oqT SSI Snapshot: crowds still heavily short USD, uptrend remains very much intact. $USDOLLAR http://t.co/f7Wmp0Ng Daily RSI at most extreme in its 2yr history, 14-day ROC most extreme since 11/2011 top. Stole away from the expo to get down to markets. (Not like I'm useful to FXCM Italy at the booth since I don't speak Italian..) bottom feeders helping to keep bearish momo intact MT @ZipperTheory markets cant hold gains for anymore than 20 mins..certainly not bullish Bigest weekly run-up in $EURUSD option volatility since September. Premium subscribers see Tuesday chart for reference #forex Moody's Eyes Spanish Banks, Stocks Reach 7% Territory http://t.co/2w6M7lw7 #forex $SPX While rate differentials aren't conducive to a weaker $EURAUD, commodity currencies still viewed as a safer alternative to debt-plagued euro
REPORT: Check out our "Morning Slices" report at http://t.co/CA4ZFwMi for an overview of the latest developments. lol *DJ Spain Deputy Finance Minister: Bankia Has Strong Future -not to worry, stock only down 25% 1320 marks that 7% peak-to-trough move in $SPX. Now we're talking #forex #stocks US crude ($CL_M) again slowest to react to overall selloff in risk assets, eyeing 89.90s from here. Our Premium targets 60 pts from 93.90
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