Silver
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REAL-TIME UPDATE TO MEMBERS - 17th Sep 2021
[Silver December Futures Update] Just like Gold, Silver continues to remain choppy and has failed to sustain the previous rebound attempt. Any fresh bounce in Silver will need to take out the newly formed local resistance at 23.35-23.55 followed by the key resistance at 25.00-25.30.
Failure to clear the resistances shall mean continued downward pressure and a test of the next key support at 21.80-22.30 followed by 20.75-21.05.
FOMC event on Wednesday, September 22 has the potential to bring substantial volatility in precious metals. Please know your parameters and plan accordingly
REAL-TIME UPDATE TO MEMBERS - 6th Sep 2021
[Silver December Futures Update] Please note the change in contract from September to December (SIZ2021). The key levels have shifted given the new contract. The immediate key resistance has also been adjusted based on a reassessment of the micro-pattern
Silver has held above the key support at 22.80-23.35 (previously local) during the smaller degree technical pullbacks in the last few days. As mentioned in the earlier updates, Silver will need to operate above this support to continue advancing further to the higher resistances.
The next key resistance has been adjusted and is at 25.60-25.85 followed by 26.30-26.70. Only a strong break above 26.70 shall open the gates to the bigger hurdles in the 28-30 region.
REAL-TIME UPDATE TO MEMBERS - 16th Aug 2021
[Silver September Futures Update] Silver has previously bounced off the key support at 21.80-22.30 during hyper-volatile price action that it witnessed last week. It has now formed a new layer of local support at 22.80-23.35.
Any technical pullback will now need to hold above the key support and preferably above the local support if Silver intends to set up a test of the key resistance at 24.80-25.30.
REAL-TIME UPDATE TO MEMBERS - 9th Aug 2021
[Silver September Futures Update] Gold & Silver have the propensity to tag-along. Silver has now formed a local resistance at 24.80-25.20 followed by a key resistance at 26.10-26.35. At the very least, Silver will need to surpass the local resistance if it intends to begin the process of challenging the downward pressure.
The next key support is at 21.80-22.30.
REAL-TIME UPDATE TO MEMBERS - 20th Jul 2021
[Silver September Futures Update] Silver has previously receded from the key resistance at 28.85-29.10. After hovering around the 26-27 region for the last several days, it has finally reached the key support at 24.80-25.30 (slightly calibrated) earlier today.
Any bounce off this support shall be considered meaningful only if it is able to surmount the micro-level key resistance at 27.20-27.40.
Inability to trigger a meaningful bounce shall make the current support vulnerable and open the gates to the lower key supports at 24.10-24.30 followed by 23.40-23.70.
REAL-TIME UPDATE TO MEMBERS - 30th Jun 2021
[Silver September Futures Update] Please note the change in contract from July to September (SIU2021). The technical levels have been adjusted slightly
Silver has previously receded from the key resistance at 28.85-29.10 and is hovering near the key support at 24.90-25.40 for the last several days.
While Silver has been attempting smaller degree bounces, any rebound shall be considered meaningful only if it is able to surmount the newly formed micro-level key resistance at 27.20-27.40.
Inability to clear this resistance would mean a retest of the key support at 24.90-25.40, a break of which shall open the gates to the lower key supports at 24.10-24.25 followed by 23.55-23.70.
NFP on Friday has the potential to bring volatility in precious metals. Kindly know your parameters and plan accordingly
REAL-TIME UPDATE TO MEMBERS - 18th Jun 2021
[Silver July Futures Update] Silver had previously receded from the key resistance at 28.85-29.10. Like Gold, Silver has also broken its immediate support amid FOMC volatility.
The next key support is at 25.00-25.50. Silver will need to hold above this support in the current pullback if it intends to have another go at the key resistance.
Inability to hold above 25.00 shall be a signal of an incoming deeper correction.
REAL-TIME UPDATE TO MEMBERS - 2nd Jun 2021
[Silver July Futures Update] Silver continues to operate below the key resistance at 28.85-29.10 after receding from it previously. It made another unsuccessful attempt to get past this region yesterday. Only a strong break of this level shall fuel further rally to the larger degree resistances in the 30-32 zone.
The nearest key support has been slightly calibrated to 26.35-26.70
Silver will need to hold above this support on any technical pullback if it intends to have another go at the key resistance.
REAL-TIME UPDATE TO MEMBERS - 20th May 2021
[Silver July Futures Update] In line with the previous update (tagged), Silver did reach the target resistance of ~ 28.75. In view of the minor breach, the key resistance has been adjusted to 28.85-29.10.
Silver has so far receded from the resistance zone. Only a strong break of this level shall fuel further rally to larger degree resistances in the 30-32 zone.
Inability to surpass the resistance shall set up another round of whipsaw to the local support at 26.70-27.00 followed by the key support at 25.20-25.60.
FOMC meeting minutes shall be released later today and this event can sometimes bring volatility. Kindly know your parameters and operate with solid risk management
REAL-TIME UPDATE TO MEMBERS - 5th May 2021
[Silver July Futures Update] Silver's advance was interrupted today by knee-jerk reactions to Yellen's remarks. It has now formed a local resistance at 27.25-27.30.
The current pullback in Silver will need to hold above the key support at 25.20-25.60 (slightly calibrated) if it intends to have another go at the local resistance. A break above 27.30 shall clear the path to the next key resistance at 28.70-28.95.
REAL-TIME UPDATE TO MEMBERS - 22nd Apr 2021
[Silver May Futures Update] Silver has reached the key resistance at 26.62-26.80 shared in the previous update and then slightly receded from it.
Silver has now formed a new layer of key support at 25.40-25.60. It will need to operate above this support on any technical pullback if it intends to have another go at the key resistance at 26.62-26.80 followed by 27.30-27.50.
Inability to hold above 25.40 shall expose the next key support at 24.40-24.70.
REAL-TIME UPDATE TO MEMBERS - 13th Apr 2021
[Silver May Futures Update] Silver has previously bounced off the key support at 23.50-23.70 (slightly calibrated) and has now formed a new layer of local support at 24.15-24.50.
Silver will need to operate above the key support and preferably above the local support in this current pullback if it intends to set up a test of the next key resistance at 26.10-26.30.
Only a break below 23.50 shall expose the first larger degree key support at 22.50-22.90.
REAL-TIME UPDATE TO MEMBERS - 1st Apr 2021
[Silver May Futures Update] At a micro-level, Silver has now formed a new layer of key resistance at 25.90-26.20 below the previous key resistance at 26.90-27.20.
The current bounce will need to clear at least the first key resistance if Silver is serious about building a micro-level bullish setup. Inability to surmount this level shall set up a retest of the key support at 23.30-23.70 (slightly calibrated) followed by 22.60-22.90.
The local resistance is at 25.35-25.45.
REAL-TIME UPDATE TO MEMBERS - 17th Mar 2021
[Silver May Futures Update] Silver has been operating in an extremely narrow range for the last several days after receding previously from the key resistance at 26.90-27.20 (slightly calibrated)
Silver will need to hold above the newly formed key support at 24.40-24.80 and preferably above the local support at 25.35-25.45 if it intends to have another go at this resistance.
Only a strong break above 27.20 shall set up a test of the next key resistance at 28.50-28.85.
FOMC event tomorrow has the potential to bring volatility in precious metals. Kindly know your parameters and plan accordingly
REAL-TIME UPDATE TO MEMBERS - 2nd Mar 2021
[Silver May Futures Update] Please note the change in contract from March to May. The technical levels have been changed accordingly and shall be updated in the table shortly
At a micro-level, Silver has previously failed at the key resistance at 28.45-28.60 and receded to the nearest key support at 25.40-25.80.
While Silver is attempting a bounce off this support, the bounce shall be regarded as meaningful only if it can get past the newly formed local resistance at 27.25-27.55 followed by the key resistance at 28.45-28.60.
Failure to surpass these resistances shall set up a retest of the key support at 25.40-25.80, a break of which shall expose the next key support at 24.10-24.40.
REAL-TIME UPDATE TO MEMBERS - 19th Feb 2021
[Silver March Futures Update] After bouncing off the key support at 25.90-26.30, Silver has been continuously negotiating with the key resistance at 27.90-28.35 for the last few days. A break over this level shall expose the next key resistance at 28.80-29.25.
Silver will need to provide a strong decisive break of these two micro-level resistances to open the gates to the larger degree key resistances in the 30-31 zone.
REAL-TIME UPDATE TO MEMBERS - 2nd Feb 2021
[Silver March Futures Update] Please note that the technical levels in Silver have been slightly calibrated on account of the fast-developing scenarios
Silver is attempting a bounce off the key support at 25.90-26.30 but has demonstrated limited strength so far. At the very least, the bounce will need to surmount the nearest key resistance at 27.90-28.35 to consider any micro-level bullish scenarios.
Inability to garner sufficient traction shall set up a retest of the support, a break of which shall target the next key support at 24.85-25.30, where another bounce may be attempted.
At a macro-level, Silver continues to remain in a corrective wave within a larger degree bullish setup which is buttressed by multiple critical key supports in the 19-22 area.
Silver shall remain an extremely volatile instrument over the next few weeks making $2-$3 moves in a heartbeat. Such larger degree volatility & whipsaw will require traders to operate with a clear capital allocation (position size) plan, solid risk management, trading discipline & last but not the least, a strong stomach & an ability to control emotions during wild moves.
Please know your parameters and plan accordingly
REAL-TIME UPDATE TO MEMBERS - 8th Jan 2021
[Silver March futures Update] Silver has key supports at 24.80-25.10 followed by 23.90-24.30. Any pullback in Silver will need to hold above these levels if it intends to challenge the immediate key resistance at 27.40-27.70.