Matter of Money

$XAGUSD reached channel support. To me a screaming long! *All ideas presented here are my personal opinions and not investment advice. Take responsibility for your own risks!

Nice $XAGUSD break of the long-term channel (here a weekly chart). This is very bullish in my book. But now it's bumping into resistance on the daily, so I expect a retracement. *All ideas presented here are my personal opinions and not investment advice.

Ok $Silver, this is the big test. Make or break!  Fail at this 4h-trendline?

$XAGUSD has been correcting for several weeks now. Will the uptrend line provide support?

$XAGUSD managed to squeeze its head above the weekly downtrend. That is bullish price action and suggests continuation. * Ideas expressed here are just my personal opinions and no investment advice.

We are in the zones... Gold: Silber: Will these stop the fall? We will see...

The precious metals are testing bullish investors' patience. So what are the levels to look at? Here is what I figure: As you can see, one of the levels was already briefly touched and buyers came in. There is no follow-through though, so another deflationary push down to below the 20 dollar level could present an excellent entry. That will most probably coincide with a great level in gold around 1250. Round number, former resistance, that is how I like it.

Yes, this was a bloodbath. Yes, I am underwater for my precious metals positions last week. Yes, I survived what was the biggest weakly decline ever in gold (so I read). So time to think positively. Silver has simply dropped into another "box" as marked on this monthly chart: Of course I didn't have the patience to only trade monthly zones, so I already picked up some bad positions on the way down at weekly levels: So this is more or less what I expect: the 22.50 will hold for now and we will see a retracement up to 25.00 or 26.25 from where it can break down again to (hopefully) 20.00$. That wash-out should be enough to make silver again attractive for big investors.

I am stacking up at this support. Chances are that silver turns up again. If not, we can see a big drop to 20-21. Not much in the way except some round number maybe.

Silver looks stabilized for the moment. I think it will appreciate to about 29.65/30.00 before deciding what's next.

I should have taken the screenshot a bit earlier but anyway, here it is. I see silver bouncing back to 29.70 or so before it has to decide what to do next.