Silver upward breakout

22/05/2017, 06.06 p.m.

comex hourly silver chart

     Just before few minutes, silver gave upward breakout on comex hourly chart. Resistance was placed at 17.38, on 21st day of May, price tried to break this resistance but failed, making falls breakout. but at the moment it again broke the resistance with good steam. Looking at the move and volume we can confidentally say that price can sustain above the resistance line. so trade accordingly, dont remain short in silver.

     Thanking you, Jay Shriram.

Final update, 22nd May 2017, 08.49 p.m

     we booked only 100 points profit and made exit because I dont like silver movement after breakout. It has lack of steam in it.

     Thank you, enjoy 3000 rupees, Jay shriram.

sell silver @ cmp 40360

sell silver @ cmp 40360 with the sl of 40700 for the tgt below 40000.

Update 1 , 12.47 pm, 14 th mar,

daily chart, silver.

silver broke major support of 40500, it sustained below it for few hours. Now next tgt is Rs 38,300. Jay Shriram.
You can read full technical analysis on investing.com site, I wrote there, lack of time I have, so link is here .... https://in.investing.com/analysis/silver-broke-major-support-of-41500,-moving-towards-38300-mark-200178753?

Update 2, 01.02, 15th Mar 2017.

Today silver price hit our first tgt which is below 40000 mark. see the chart, next is rs 39,500. We are using trailing sl method to protect profits. Jay Shriram.

Update 3 , 09.45, 16th Mar 2017.
Sudden spike in comex silver, is up in late trading. I dont know what was actually happen ? May be some contract change or something else. Searching for it. candles are showing comex silver and line is showing mcx silver price. thank you.  The 25 bps rate hike—from 0.75% to 1%—by the US Federal Reserve signals more vigilance as inflation approaches its target

silver gap, update 4, 17th Mar, 11.38 am

You can see gap up opening on this 4 hourly mcx silver chart. This gap is created because of the Fed rate hike event. Banks and hedge funds were with the strategy of ," sell on rumors & buy on facts." This strategy push up price heavily on comex. But it interesting to see that if the price can maintain the gain ?.

 Gap shown in ellipse. Half of gap is filled by price. Lower end of this gap is placed at 40100 mark. If silver price break this mark downward, only then it entered in perfect bearish teritorry . Till then it can move here and there, trying to consolidate itself.

sell silver @ cmp 42702

Sell silver @ cmp 42702,  I will give sl and tgt & chart study in few minutes.

Update 1, 21st Feb 2017, 01.35 p.m

As shown in the silver hourly chart, you can see that, the silver price broke the channel support & made gap down. Later it filled the gap but it is in process to complete the H&S pattern. This is very bearish chart pattern, next big support is placed @ 42300 level, which will our target and channels support line , which is now placed around 43000 will be our sl. 

Try it, saying Jay Shriram.

Update 2, 03.00 p.m, 21st Feb 2017.

hurry up, book all the profits & exit the trade. cmp is 42480. we got 220 points that means more than Rs 6000. Enjoy, Jay Shriram

Silver @ its support, is it good level to buy ??

 Is it good level to buy silver ? 

 As seen in the attached hourly chart, silver opened gap down today with bearish sentiment in the minds most of traders. But we should use brain in spite of mind with the help of chart levels. 

Fibonacci Retracement

Prior rally was from Rs 45800 to 48450. As shown in chart, 61 % retracement of this upmove is placed around 46840. Today's low is 46875 . So we can say that 61 % retracement is done by silver.

Support level 

Support level is placed around 46950 and price is trading above it and sustained above the level. This happening is making double bottom on the support level.

Conclusion 

One can go for buy positionaly with low quantity with the sl below 46600 because silver looks to be taken support @ 61 % retracement level. Risk reward ratio is good. On upside after breking resistance of 48500 it can fly up to 50000 .

Update 5th aug 2016

CMP is 46733, yesterday silver opened gap down & broke our support level placed @ 46950. At the time of posting this post, price was 47,185 around. Loss of 235 points in this call or analysis. Sorry about that. 

Copper in free fall mode

                                      10/7/2016, Sunday.

                        

Channel Pattern 

As indicated in attached daily copper chart, we can easily see that, copper price is moving in a donward moving channel since last 90 days. On 3 occasions ( a,c,e ) it touched resistance line. Price respected resistance line in this upward journey and came back to visit support line ( b & d ). In the third upmove it touched the resistance line and fall vertically. This point is shown in red rectangle.

There is another channel within the main channel, which is indicated by red lines. After returning from resistance line ( rectangle ), price breach support line of this blue colored channel ( circle ) around Rs 325 - 326 mark and as a result it got new steam for its down ward journey. 

                              Failure Of  Expanding triangle

Usually price fell after end of expanding triangle but here we can see the failure of this chart pattern. We can see this triangle colored in blue lines. Instead of going down price sparked upward and touched point e of resistance line.

                                        Moving Averages 

For the purpose of study of dma, 3 types of dma,s used here. (1) 5dma is shown in yellow line (2) 10 dma is shown in blue color line (3) 20 dma is shown in green color line. 5 dma line crossed 10 dma line in downward direction. As there are only 5 days or 5 candles in its downward journey, 10 dma line is yet to show new direction.

                                              Conclusion

Looking at channel structure and break of inner channel support line, we can hope that price will continue its journey towards main support line of big channel towards supportline placed around Rs 300 or 2.22 dolor mark. If we think only about main channel irrespective of inner blue colored channel, price is heading toward support line after visiting resistance line. Support line is placed around Rs 296 to 297. But there is support around Rs 300 or dolor 2.22 which is last time low, shown as point d. So keeping all this factors in mind I suggest to go short in copper @ cmp Rs 318 or 2.12 dolor for the targeted price of Rs 301 mcx or dolor 2.02 with the sl of Rs 321.60 mcx or dolor 2.15 around. Stop loss is placed @ the high price of last day candle. Hoping good profits from this trade, wish you best luck. Request you to use trailing sl method for safer profits. Thank you.