LET THE MARKET TELL WHO WE ARE

A very nice basing formation has emerged in silver and currently it is trading at 37562. A cup and handle pattern is clearly visible on daily chart and now silver is consolidating to form handle of this pattern. Yesterday silver took support at 30 days SMA and jumped nicely and today it has climbed above 5days EMA triggering bullishness in this counter. Stability above 30 days EMA remains supportive for silver bulls. However, a bearish cross has taken place on MACD indicator but still this indicator is staying in bullish territory and remains supportive for bulls. Immediate support is now placed at 36800 any failure of this level will put current cup & handle pattern in doubts and any sustained move below this level will bring attempts towards 35800 zones and further stability below 35800 will call for retest to floor of this cup near 33000 zones . Stability above 36800 remains extremely bullish and established move above 38000 will offer a primary rally towards 40500 and then ...

Silver has been experiencing a strong down trend since it broke through the key support of 35000 which was also support line of a bearish flag continuation. Prices are now hovering near key support zones around 33400-33000. However, silver had witnessed some recovery on Monday and Tuesday but 2 days counter move is not enough to confirm a trend reversal. Today this metal has opened with a down side gap and staying below its opening price. We need a penetration of 33150 to confirm resumption to a larger degree down trend and then attempts towards 30700 zones can’t be ruled out. Stability below 33150 will also increase the possibilities of completion of CD leg (at 30700) of a bullish AB=CD pattern. Any move above 34200 might bring some recovery and then a jump towards 35200 can’t be ruled out. Any stability above 35200 zones might put this entire bearish setup in doubts where stability below mentioned resistance levels will keep on going down trend intact.

Silver has been fluctuating among 34000 and 41000 from last 6 month. Recently it has headed a low of 34011 on Tuesday this week but that day’s price action was neglected by yesterday’s bullish price action and silver settled with an inside bar on daily chart. Today we have seen a nice recovery after a breakout above 35167. Stochastic has recovered form oversold territory but struggling to cross above 40 and remains supportive for silver bears. MACD is also staying below centerline and its signal line that hints a down trend but MACD is getting closer to its signal line that hints weakening bearish momentum. Prices are staying below 20 days EMA that hints a down trend in this metal. As per current setup we are expecting silver to remain in positively biased sideways trend until it manage to break and hold below 34000. Key resistance remains near the areas of 36450-500 zones any sustained move above this level will bring some charm and then silver will trigger possibilities to retest th...

Silver on mcx is trading at 36850. Market is fluctuating in a narrow range and waiting for the outcome from today’s FOMC meeting. On daily chart silver has been trading in a rising parallel channel and now testing the support line of this channel. Prices are now fluctuating near 7 days EMA. 7 EMA on silver daily chart is playing very crucial role for short term trend identification. A reverse 3 is 1 bar setup is clearly visible and either side closing basis breakout from the setup bar will decide clear trend of this commodity. Silver remained in narrow range in yesterday’s trading session and formed an inside bar on daily chart. Today firs resistance will remain at 37125 any cross above this level will put focus on 37371-400 zones and any closing above these levels will confirm a trend reversal and then we will see this metal heading higher in coming days. A cross and close above 37400 will offer a primary rally towards 38000 and further stability above 38000 will bring 38500 and 3890...

  Today silver has headed an intraday high of 39090 but couldn’t sustain above 39000. When silver down in last week of January 39000 was the first reaction high placed during the first week of February. Now we are focusing on 39000 if silver manages to hold above that level then price objective for bulls would be 39700-40000. Key resistance for intermediate down trend would be 40600 and any sustained move above this level would increase the probabilities for completion of a harmonic structure which is widely known as bearish bat and than a rally towards 44000-44800 can’t be ruled out. Stochastic is loaded with strong momentum and stability above 50 hints bullishness for this counter. Areas of 37333 will remain in focus as trend support and any failure of this support would weaken the momentum and trend will turn sideways. Currently trading at 38848.

Silver spot has been trading in a descending parallel channel and now breaking through rising support of ascending triangle pattern within this channel indicating resumption to bearish direction. However a bullish crossover has happened on short term and long term moving averages but no follow up buying seen and reversal occurred from resistance line of descending channel. MACD is hovering near zero and any move below zero would be added advantage for silver bears. Immediate support is now seen near 19.40 and any failure below this level would call for a retest to 18.90 zones. 18.30 zones. Key support remains at 18 and any failure below 18 would bring 17-16.70 on cards. Resistance is now placed at 20.10 and then at 20.60 any sustained move above 20.60 would neglect bearish expectations in this metal and then recovery can’t be ruled out for retest to 22 and more upside. Recommendation: selling silver on jumps around 19.70-19.90 with stop loss above 20.30 for targeting 18.90-18.30 and ...

Silver international has been moving in a consolidation pattern ranging $26-$35 for more than 1.3 years. As per current scenario silver has key support at $28.30 failure of this support would offer a retest to 26$. Areas of $26 would be key support and penetration of this support would offer areas of $21 and then $19 as primary supports in a time frame of 1-3 years. MACD is fluctuating near zero line and stability below zero would be added advantage for silver bearish. Areas of 32.50 would remain key resistance for this outlook and recoveries above the same may hurt our longer term bearish expectations in silver. Currently trading at $28.68.

As we can see here in the chart provide above silver is holding the recent gains above 50 weeks exponential moving average and has covered previous week’s losses during the 2nd trading session of current week. Now silver bulls need to show more power to establish a bullish direction above areas of 32.70 to signal a bullish attempt that would help this commodity to jump towards areas of 34.30 and more upside. Failure of recent support, which is placed at 30.70, would signal a deeper correction towards 28-26 zones. MACD is losing its bullish momentum but hovering above zero line supports a bullish direction. 14 periods weekly RSI getting support at 50 line considered as bullish sentiments. Outlook will remain bullish in case of stability above 30.70 while failure would neglect these bullish expectations. Cross and close above 32.70 would be added advantage for silver bulls.

Recently silver has broken out important resistance of 29.25 confirming neckline breakout of inverse head and shoulder pattern as per 240 minutes chart suggesting primary rally till 32-32.20 in short term. As per hourly chart silver making measured move and signalling next top around 32.20 as per this measured move. Recommendation: based on charts and explanations above our opinion is to buying silver on decline around 29.30-29.70 for targeting 32-32.20 with stop loss below 29 might be appropriate on 240 minutes closing basis.

After a rising wedge failure silver headed towards 30.65 last week where we were expecting 30.50 as strong support for further down side. After looking at 240 min chart it seems that silver has broken out down sloping trend line resistance of descending triangle. Now facing resistance at 32.30 due to low buying interest of crowd. MACD near zero line suggesting 32.30 as a very stiff resistance a breakout above 32.30 would confirm an advance till 33. 33 is also looking very important level to watch as this is 38% retracement previous bearish swing from 44 to 26. Breakout above 33 would confirm an advance till 36-36.40 in near term. Till silver trading below 32.30 ranges bound moment expected in short term break below 31.40 is less likely, break would confirm decline till 31-30.50 in very short term. Further down side till 29.60-26.60 area only possible below 30.50. We expect the rising wedge pattern may affect this counter negatively which in result drives us to stay away till silver tra...

As per daily silver is facing resistance at 50% fib retracement on previous bearish swing and its 60 days SMA around 35.32. Bearish cross over on MACD near zero line also suggesting some bearish environment. Silver having a psychological support at 33 breach of this level would signal a decline till 30.50 and 28 in coming days. Silver moving in a rising wedge on daily chart and 33 is support of this rising wedge. Rising wedge are always works as continuation pattern during down trend. These all ways are suggesting that this counter will remain in control of bears in coming days but we need a confirmation below 33 on daily closing basis. 35.40 will remain strong resistance for this view for targeting around 30.50-28.50 and 26.70 in coming days. 

As per daily chart silver is moving in rising wedge, normally these patterns are known as trend reversal pattern but some time these pattern works as trend continuation also. As per this trade setup rising wedge seen after a nice bearish move from 44.18 to 26.08. As per this chart analysis now we can expect that short term advance will remain continue till 37-37.50 this area can act as key resistance area or we can say that resistance line of this wedge can act as a nice reversal zone around 37$. For this view 34.40 will remain key support and failure of this wedge will occur below 32.75 after a break below 32.75 another sharp down move can’t be ruled out after that silver will try to taste 22$ if moves in our expected way as per this trade setup. Stochastic indicator with overbought reading is also supporting 37 zones as key reversal area. Very short term trend will remain continue and 36.80-37.40 will be target for buyers. 34.40 will remain key support for this view, fai...

Silver comex moving in a channel a ascending triangle and it has broken out the up sloping  trend line of this triangle that is suggesting a big selling may take place below 33.75 mark. This fall may take it to 33.20-32.40 trader can use 34.40 as stop loss in there sell after failure below 33.75 currently trading at 33.91

Silver moving in a ascending triangle on 240 after a sharp bearish move till 26$ and facing resistance at 33.30 zones. Yesterday’s high 33.03 was 2 nd attempt to this resistance line and a nice selling pressure seen from that res. Area now level to watch is 31.20 zones for more down. Below 31.20 it would confirm a decline till 29-26$. Macd indicator is also struggling near zero line and getting ready for a bearish cross over that is suggesting a valid break of this support line till silver trading below 33.30 I would like to book full profit in all longs taken by me and will wait for a fresh entry after breakout. As per this trade setup your stop loss will be 33.60 zones for targeting around 29.30-26.50. your suggestion and feedback will increase my confidence and inspire me to give best results. If you like this post then don't forget to leave your comment and share my blog with your friends and fellow traders.If you stuck in any wrong trade, send your queries to me...

Previous week nice selling seen in silver and broken all barriers and it has formed a symmetric triangle on weekly chart that is suggesting a hell for silver. Now minor support seen at 26$ a short term recover we can see in silver from 26$ and 32.50 will act as a major resistance for now below 26$ fall may take it to 26$. Major target as per this breakout we are expecting around 13.51$ target calculated as per height of this triangle, expected time frame is 18-24 month for this view. Target calculation: 49.77-26.38 = 13.51 

Gold comex: expected intraday trading range is between 1740-1805 currently trading at 1766, as per 240 chart gold has broken support line of descending triangle that is suggesting gold may fall till 1680-1660 zones in near term and few days ago we have already seen a double top reversal pattern in gold these all reason are suggesting that gold is getting ready for hell.   For intraday trading 1790-95 range is looking very good resistance area above 1805 if gold manage to hold then bulls can enter in streets and they may take it up to 1818-22 zones during the day. Trader can use sell on rise strategy for day trading we are expecting a bounce till 1790-1800 zones. 1 st major support for the day is 1740 further down side will take place only below this level. Immediate support seen at 1760 below 1760 it will open for 1745-40 zones during today’s trading session. Silver comex: intraday expected trading range is between 38.60-40.50 , currently trading at 39.51and 39.20 is looking ver...

Gold comex: expected intraday trading range is between 1800-1870, yesterday nice selling seen in gold and gold made 1801 and closed around 1814. We were expecting 1805 as a support yesterday. Gold broke that support but was not able to sustain below 1805 and after that on hourly close basis gold closed at 1805.72 means that support is still buyer’s interest area.   Expected intraday supports are 1800-1775 immediate resistance seen at 1840-42 zones above this it may jump up to 1860 zones 1870-72 zones can act as unbreakable resistance for the day trader can sell on rise near said resistance area. Trend is still weak. Silver comex: expected intraday trading range is between 41.50-38.80. Major resistance for the day is 41.50-41.60 zones that can change market trend otherwise silver is looking weak. Immediate support seen at $40 below this level   more selling pressure will take place and silver may taste 38.80-38.50 level during the day 

Gold comex : expected intraday trading range between 1810-1890, intraday trend is still weak and a big fall below 1805 can’t be ruled out, 1910 is looking very stiff resistance. Immediate support seen at 1837 below 1837 a retest of 1822-1806 possible during the day, but big fall only will take place below 1805 if sustain more than 15 minutes, that can retest 1750-45 during this fall. Immediate resistance seen at 1868 above 1868 a rise may take place up to 1890-1910 during the day a daily closing above 1905 zone will completely neglect all our bearish view and up side rally may lead towards 2100+ in short term. Silver Comex: expected intraday trading range is between $40.30-42.60, silver is still moving in a band off 40.30-42.70 a buying and selling pressure seen near support and resistance of this band.   Intraday important level to watch is 40.30-40.20 zones. Below 40.20 we can see a big fall during the day. and next major support will be 38.70 below 40.20. bears need not to wor...

GOLD COMEX: intraday expected trading range is between 1810 -1885, yesterday nice recovery seen in gold and closed at 1869.90. Some strong up side moment can’t be ruled out if gold manage to hold above 1885 for some time. Immediate support seen at 1845 below 1845 fall may take it to 1822-1810 but 1810 is looking still a very strong support for gold. Intraday bears can look for selling around 1885-90 with stop loss of 1910 for expected targets of 1855-45-25 and intraday bulls can look for buying around 1814-20 range with stop loss below 1810. Today is weekly close also for international commodity markets so 1810 is a major level on weekly basis if gold manage to close below 1810 today then it may confirm a short term bear market for gold and a fall till 1750-1600 can’t be ruled out . SILVER COMEX: expected intraday trading range is between 41.20-43. Silver is still confusing and still taking support on support line of ascending parallel channel. Immediate support resistance seen at 42...

Gold COMEX: expected intraday trading range is between 1740-1880 trend is still looking weak on short term time frame. Immediate resistance seen at 1855 above 1855 rise may take it to 1880-85 area but we are expecting 1910 as an unbreakable resistance for the trader can use 1910 as stop loss if want to enter in sell around 1860-80 zones we are expecting this fall till 1750 in near term. Intraday important support to watch for gold are 1802 below 1802 fall may take it to 1770-1720 during the day and on midterm time frame2 consecutive close below 1745 will confirm a fall till 1600-1560 zones. Silver COMEX: Expected intraday trading range is between $39.50-42.50, yesterday nice recovery seen from its horizontal support of 40.20 to 41.79. currently silver is moving in a band of 41.20-41.80 a break above 41.80 may take it to 42.50-43 during the day selling on rise may be good idea for silver and 42.50-42.80 may be a good range for silver sellers we are expecting a fall till 39.40-38.80 du...