Primed for a Solid Rip
$iShares Silver Trust (SLV.US)$
The weekly and monthly candlestick are looking better and better for SLV. It has been in a long term bear flag type of range.
The weekly and monthly candlestick are looking better and better for SLV. It has been in a long term bear flag type of range.
![Primed for a Solid Rip](https://ussnsimg.moomoo.com/1649903848310-random4251-70107943-android-compress.png/bigmoo)
The weekly indicators are looking like the are about to confirm bullish momentum and price action.
![Primed for a Solid Rip](https://ussnsimg.moomoo.com/1649903848854-random4141-70107943-android-compress.png/bigmoo)
We are currently near a long term resistance that was created during a gap down event over the weekend in the beginning of April 2013. This long term resistance that was created is strong enough to have silver's price action whipsaw around this level since July last year
![Primed for a Solid Rip](https://ussnsimg.moomoo.com/1649903849397-random2266-70107943-android-compress.png/bigmoo)
![Primed for a Solid Rip](https://ussnsimg.moomoo.com/1649904617173-random1958-70107943-android-compress.png/bigmoo)
If we maintain upward momentum after breaking above this long term resistance then its super bullish.
The monthly candles look even better.
The monthly candles look even better.
![Primed for a Solid Rip](https://ussnsimg.moomoo.com/1649903849912-random1885-70107943-android-compress.png/bigmoo)
So do the indicators. When the J line in the KDJ sub indicator crosses above the 50 value then there is typically some short term upside. And if RSI values stay above 50 it is conducive of a rally. And don't forget about the bullish crossover on MACD
![Primed for a Solid Rip](https://ussnsimg.moomoo.com/1649903850469-random5939-70107943-android-compress.png/bigmoo)
Another positive note is that silvers price is above all monthly moving averages. And it opened above the nine month moving average the past two months and is currently well above it this month so far.
![Primed for a Solid Rip](https://ussnsimg.moomoo.com/1649903850934-random4320-70107943-android-compress.png/bigmoo)
But remember these indicators are lagging and only confirm what has already happened. So the market could sweep the rug out from under our feet at any time
$SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $Tesla (TSLA.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$ $SPDR Gold ETF (GLD.US)$ $Crude Oil Futures(OCT4) (CLmain.US)$ $Veru Inc (VERU.US)$
$SPDR S&P 500 ETF (SPY.US)$ $Invesco QQQ Trust (QQQ.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $Tesla (TSLA.US)$ $CBOE Volatility S&P 500 Index (.VIX.US)$ $SPDR Gold ETF (GLD.US)$ $Crude Oil Futures(OCT4) (CLmain.US)$ $Veru Inc (VERU.US)$
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