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Silver (SI) Weekly MACD Positively Crossing

Silver (SI) Weekly MACD Positively Crossing

Posted November 10, 2021
Darren Chu
Tradable Patterns

Silver (SI) Weekly MACD Positively Crossing

Silver (SI) is trying to firm going into today’s European morning, continuing a consolidation just shy of the October high.  Significantly, SI appears to be gearing up to resume an upchannel (on the 4hr and daily chart), and is close to completing a 2 week plus consolidation of the break above the descending wedge resistance (on the weekly chart).  The catalyst for a renewed leg up could come as early as today following the 830am EST US CPI data.  By viewing a monthly chart on tradingview.com, SI appears to have formed a floor to a year plus consolidation.  Congratulations to readers who heeded the warning December 16th of SI’s breakout above its daily chart downchannel resistance and who benefited.  The weekly, daily and 4hr RSI, Stochastics and MACD are bottomish, rallying or consolidating recent gains.  I am looking to enter long in the green zone (of the daily chart), targeting the red zone for Tuesday.  The amber/yellow zone is where I might place a stop if I was a swing trader (although in my personal account with which I seldom hold overnight I sometimes set my stops tighter).

Click here for analysis on GOLD, VIX

Sample of Today’s Top 3 Trades Available to Free Subscribers (published Apr 14, 2021)

Sample of Today’s Top 3 Trades Available to Free Subscribers (published Apr 14, 2021)
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