What is going on with Silver price ?

in #vincentb4 years ago (edited)

My chart analysis is showing a very interesting situation developing with Silver price right now. Currently trading around $17.2, it's forming an inverse Head & Shoulders (H&S) pattern shown in blue on the above chart. If and when it goes above the neckline (around $17.5), my next target would be just over $19. If it can then stay above the upper red line (around $18.1), it's likely to go up to $21.

This would seem to be in alignment with the other indicators (such as the $USD going down and Gold price going up) as covered in my previous post here:

Update on [email protected] UTC: The silver price went above the neckline a few hours ago and is now testing this support level around $17.5 and if it can stay above this level, my initial target of $19 should be achieved fairly quickly.

If you've found this information helpful, please consider upvoting and resteeming this post. Thanks !

DISCLAIMER: I'm not a financial adviser, nor a professional trader and nothing I say here is meant to be a recommendation to buy or sell any financial instrument. It is purely for educational purposes. Don't invest money you can't afford to lose. Always do your own due diligence before trading or investing.


You are right. I am also following the silver and gold price since years and normally there have been different movements so I am also waiting for a breakout of the silver price as the manipulations seem to end. We are at a very critical point now as the old financial system seems to crumble really now. I am surveying the old robbery system now since years and if the dollar is still going down together with a sinking oil price (which already started) we´ll have a big crack in the petrodollar which means it is toast.

hello there nice post...i am upvoting you and following..please do the same for me and do let me know by replying...go vincentb

Thank you.

what would you rather bullion or jewellery?

Comparatively, Jewellery is too expensive due to design costs.

and its supply demand factor, i'd rather have a nice piece of jewellery

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Update on 31-Jan-18: Silver price at $17.25 is showing some sign of strength on my chart now and could be about to move up soon. This is probably the most critical time for Silver's future price and is well worth watching like a hawk.
@vincentb @jerrybanfield @good-karma @marketreport @planecrazy1985

Update on Fri 13-Apr-18: Silver and Gold spot prices ($16.54 and $1340 respectively) are showing lot of strength today which is probably due to the uncertainty of the current political situation in Syria.

If this uncertainty continues over this weekend, both these metals could breakout to the upside in a big way. And I wonder if the famous saying about the superstition around the Friday 13th date is going to come true ? What do you think ?

Update on 18-Apr-18: Silver price is knocking at the resistance at USD17.25 today. If it breaks above the neckline at USD17.5, it is likely to propel much higher. Today, it is showing even more strength than Gold, so the likelihood of Silver breaking out seems quite high. But only time will tell !

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