Silver Fib Support / Resistance (Buying Opportunities)..

P

paecha01

New Member
For anyone intrested, here is the Fibonacci retracement chart for Silver. (in $USD)
We have already broken "Short Term" 61.80% support of $45.65. I would therefore be very supprised if it did not drop to just above the "Short Term" 38.20% support of $43.28.
If it breaks $43.28, expect it to reach the short term low of around $39.69 ($40 or so). If it breaks $39.69, expect to see it reach the Intermediate low of $36.42.

Might give some of you some ideas regarding when to buy. I wont be buying more physical unless we see $40 or lower.
But at least this will give you guys/gals some ideas for entry points :).

High Low 38.20% 61.80% 138.20% 161.80% 200.00%
Short Term $49.78 $39.69 $43.28 $45.65 $54.28 $57.26 $62.44
Intermediate $49.78 $36.42 $41.04 $44.18 $56.09 $60.38 $68.04
Mid-1 $49.78 $33.59 $39.04 $42.83 $57.85 $63.48 $73.77
Mid-2 $49.78 $26.36 $33.61 $39.05 $63.46 $73.74 $94.01
Mid-3 $49.78 $17.36 $25.96 $33.29 $74.44 $95.45 $142.74
Long-1 $49.78 $8.35 $16.51 $25.17 $98.46 $150.05 $296.77
Long-2 $52.50 $4.00 $10.69 $19.64 $140.37 $257.72 $689.06
 
Firstly the 'short term' has been based on a period of very low liquidity (volume). So personally i will ignore this.

Secondly to ignore the above i would also ignore the price points reached during that period of low liquidity.

If i was to make a decision, i would wait until markets resume full trading later this week (or better yet next week) and then draw my conclusions from the information provided then.

But thats just me, i prefer to be more conservative.
 
Hey Merchant, cheers for the input.

However, so far the fib support resistance points are been pretty spot on..
You can draw a straigh line through $45.65 (short term 61.80% retracement) and see a clear support/resistance point.
I am just basing this on high's and low's, which usually work pretty well.

But agreed, there are so many different ways to skin a cat :)..
 
paecha01 said:
For anyone intrested, here is the Fibonacci retracement chart for Silver. (in $USD)
We have already broken "Short Term" 61.80% support of $45.65. I would therefore be very supprised if it did not drop to just above the "Short Term" 38.20% support of $43.28.
If it breaks $43.28, expect it to reach the short term low of around $39.69 ($40 or so). If it breaks $39.69, expect to see it reach the Intermediate low of $36.42.

Might give some of you some ideas regarding when to buy. I wont be buying more physical unless we see $40 or lower.
But at least this will give you guys/gals some ideas for entry points :).

High Low 38.20% 61.80% 138.20% 161.80% 200.00%
Short Term $49.78 $39.69 $43.28 $45.65 $54.28 $57.26 $62.44
Intermediate $49.78 $36.42 $41.04 $44.18 $56.09 $60.38 $68.04
Mid-1 $49.78 $33.59 $39.04 $42.83 $57.85 $63.48 $73.77
Mid-2 $49.78 $26.36 $33.61 $39.05 $63.46 $73.74 $94.01
Mid-3 $49.78 $17.36 $25.96 $33.29 $74.44 $95.45 $142.74
Long-1 $49.78 $8.35 $16.51 $25.17 $98.46 $150.05 $296.77
Long-2 $52.50 $4.00 $10.69 $19.64 $140.37 $257.72 $689.06
Click to expand...
Great. Thanks for the information as it's certainly something to consider.
 
boston said:
paecha01 said:
For anyone intrested, here is the Fibonacci retracement chart for Silver. (in $USD)
We have already broken "Short Term" 61.80% support of $45.65. I would therefore be very supprised if it did not drop to just above the "Short Term" 38.20% support of $43.28.
If it breaks $43.28, expect it to reach the short term low of around $39.69 ($40 or so). If it breaks $39.69, expect to see it reach the Intermediate low of $36.42.

Might give some of you some ideas regarding when to buy. I wont be buying more physical unless we see $40 or lower.
But at least this will give you guys/gals some ideas for entry points :).

High Low 38.20% 61.80% 138.20% 161.80% 200.00%
Short Term $49.78 $39.69 $43.28 $45.65 $54.28 $57.26 $62.44
Intermediate $49.78 $36.42 $41.04 $44.18 $56.09 $60.38 $68.04
Mid-1 $49.78 $33.59 $39.04 $42.83 $57.85 $63.48 $73.77
Mid-2 $49.78 $26.36 $33.61 $39.05 $63.46 $73.74 $94.01
Mid-3 $49.78 $17.36 $25.96 $33.29 $74.44 $95.45 $142.74
Long-1 $49.78 $8.35 $16.51 $25.17 $98.46 $150.05 $296.77
Long-2 $52.50 $4.00 $10.69 $19.64 $140.37 $257.72 $689.06
Click to expand...
Great. Thanks for the information as it's certainly something to consider.
Click to expand...

Cheers,

But lets get over options expiry first. Then its worth lookin at ya fibbs
 
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