Money Control Place
  • Politics
  • Business
  • Stocks
  • Investing
  • Politics
  • Business
  • Stocks
  • Investing

Money Control Place

Stocks

Textbook Double Top on Silver (SLV)

by June 1, 2024
June 1, 2024
Textbook Double Top on Silver (SLV)

Gold is struggling, moving mostly sideways. Silver has technically been moving sideways as well, only it has formed a textbook double top chart pattern. Textbook double tops show even tops and a clear confirmation line delineated at the middle of the “M” formation. What is good about these formations is that they give us a minimum downside target.

The downside target is determined by the length of the pattern subtracted from the confirmation line. In the case of Silver, that would bring it down to prior gap support. But remember, this is a “minimum” downside target. It could fall further.

The Price Momentum Oscillator (PMO) has topped for a second time in overbought territory. Stochastics are falling. The technicals are failing on Silver, so we should be prepared for this decline to catch fire.

Conclusion: We have a bearish double top on Silver (SLV) that predicts a minimum downside target around 25.00. Prepare for more downside on SLV.

Learn more about DecisionPoint.com:

Watch the latest episode of the DecisionPoint Trading Room on DP’s YouTube channel here!

Try us out for two weeks with a trial subscription!

Use coupon code: DPTRIAL2 at checkout!

Technical Analysis is a windsock, not a crystal ball. — Carl Swenlin

(c) Copyright 2024 DecisionPoint.com

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.

DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.

Helpful DecisionPoint Links:

Trend Models

Price Momentum Oscillator (PMO)

On Balance Volume

Swenlin Trading Oscillators (STO-B and STO-V)

ITBM and ITVM

SCTR Ranking

Bear Market Rules

0
FacebookTwitterGoogle +Pinterest
previous post
MUST SEE! Top 10 Stock Picks For June 2024
next post
​Tech 5: NVIDIA Closing in on Apple as Most Valuable Stock, Spot Ether ETFs Could Trade by June

Related Posts

Bearish at the Bottom; Institutions Wrong on Oil

June 21, 2023

Small-Caps Rocket to the Upside, Leave Large-Caps in...

December 15, 2023

Week Ahead: NIFTY Stares At Crucial Support; RRG...

February 10, 2025

Is a New Market Uptrend Starting? Key Signals...

March 15, 2025

Oil & Gas Equipment & Services ETF Resumes...

March 16, 2024

Does “NoGo” for the S&P = NEW Opportunities...

August 18, 2023

KRE’s Impending Plunge: What This Emerging Crisis Means

March 28, 2024

Heads Up! 10-Year Treasury Yield Could Go All...

August 18, 2023

Investing in 2024: 3 Promising Opportunities To Watch

December 29, 2023

Stash that Flash Right in the Trash

February 15, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Larry Williams on the Fed, Interest Rates & Markets! What’s Next?

    • Analyzing SIL, USO, and NVDA: Could These Bullish Patterns Trigger?

    • Nuclear Power Trio: OKLO, SMR, and CCJ in Focus

    • Trump’s Nuclear Revival Plan Boosts Uranium Prices, Sends US Miners Soaring

    • Group Eleven Announces Appointment of Jasmine Lau as Chief Financial Officer

    • Charbone Hydrogene annonce les resultats financiers T1 2025

    Categories

    • Business (1,221)
    • Investing (2,498)
    • Politics (3,699)
    • Stocks (1,611)
    • Uncategorized (20)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: MoneyControlPlace.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 moneycontrolplace.com | All Rights Reserved