Investing
Haven
No Result
View All Result
Sunday, May 22, 2022
  • Login
  • Premium Services & Login
  • 2022 Forecasts
  • Commodities & Gold
  • Stocks
  • Crypto
  • Mission 2026
Crypto investing >>
Investing
Haven
  • Premium Services & Login
  • 2022 Forecasts
  • Commodities & Gold
  • Stocks
  • Crypto
  • Mission 2026
No Result
View All Result
InvestingHaven
No Result
View All Result

Silver vs. The USD: Who Will Win This Battle?

by Taki Tsaklanos
May 01, 2022
in Commodities & Gold
0
silver bullish
1.9k
VIEWS
Share on FacebookShare on Twitter

The price of silver got hammered last week. After an 8 day losing streak it should be time for a break. But how concerning is the situation in silver? Also, do we still believe our silver forecast is valid? We look at the silver chart and the USD chart to answer this question.

We will start with the USD chart as it’s the driver of weakness in precious metals. We notice a 7 day winning streak on the USD (7 green candles in a row), Friday was the first red candle.

No surprise, silver has been losing ground for 8 straight days.

The USD arrived at the crucial 103-104 level. We marked 103.3 and said to our members that it’s the single most important price point on the USD chart. The USD should calm down here in order to let silver shine.

US Dollar chart

The silver price chart in the meantime does not show any structural damage, even after declining for 8 straight days. What we observe is resistance at 27 USD (spot silver) and big support right below 22 USD. Moreover, silver is right now testing a falling trendline, the one that originated from the ‘Reddit pump’ in February of 2021.

silver price chart

So, there is not a lot that we can learn from both charts, right?

Not that fast. We believe that there is one elephant in the room here: the USD is hitting multi-year highs while silver continues to consolidate. It even did not hit key support, not yet.

In other words, we believe that silver is showing relative strength in the light of an ultra-strong USD.

Stated differently, IF and WHEN the USD would decide to calm down it would open the door for a big run in silver. The one and only question is whether the USD will find resistance in the 103.3-104.0 area or whether it will clear this level (on a 3 week closing basis). We will know soon, and the attractiveness of silver as an investment (also if our silver forecast will be in play) will become clear very soon! Our best bet is that silver support will be respected, and we explain in our weekend updates in Trade Alerts and Momentum Investing why we believe so!

  premium service trade alerts   premium service trade alerts   premium service crypto teaser  
Receive top notch forecasts for free.

*We hate spam as you do.

Taki Tsaklanos

Taki Tsaklanos

Taki has +15 years of experience in global markets. His methodology is unique and effective, yet easy to understand; it is based on chart analysis combined with intermarket / fundamental / sentiment analysis. His work appeared on major financial outlets like FinancialSense, MarketWatch, ... Email: taki.tsaklanos@gmail.com. Twitter: twitter.com/investinghaven

Latest

bear market

Also Tired Of This Constant Volatility And Selling Pressure? You Are Not Alone!

May 22, 2022
silver prices forecast

Silver About To Fly Or Die?

May 22, 2022
sugar price

Why Not Invest In The Price Appreciation Of… Sugar?

May 22, 2022
safe havens

Junk Bonds Point to a Possible Bounce In US Equities

May 22, 2022

Connect with InvestingHaven

Receive top notch forecasts for free.

*We hate spam as you do.

Categories

  • Premium Services & Login
  • 2022 Forecasts
  • Commodities & Gold
  • Stocks
  • Crypto
  • Mission 2026

Site Navigation

  • RSS Feed
  • About us
  • Sitemap
  • Privacy & Disclaimer
  • Terms of Service
  • Contact Us
Investing
Haven

Top notch forecasting with gold price forecast, many stock predictions, cryptocurrency charts. Many investing tips and crypto market analysis.

Copyright © 2021 Investing Haven

No Result
View All Result
  • Premium Services & Login
  • Premium Investing Service
  • Premium Trading Service
  • Premium Crypto Service
  • 2022 Forecasts
  • Markets & Stocks
  • Commodities & Gold
  • Crypto Markets
  • Mission 2026

Copyright © 2021 Investing Haven

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In