Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Stocks

Textbook Double Top on Silver (SLV)

by admin 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
Stock Market Shows Its Magic: An Exciting Finish
next post
S&P 500 Sinks on Software and Semiconductor SELLOFF

Related Posts

Should You Buy Roblox Stock Now? Key Levels...

July 3, 2025

4 Scenarios for Nasdaq 100: Bullish Surge or...

March 18, 2025

MarketCarpets Secrets: How to Spot Winning Stocks in...

November 19, 2024

One MAJOR Concern About Friday’s Rally

June 3, 2024

Moving from Thrust Signals to a Bull Market

May 24, 2025

Master Multiple Time Frame Analysis With This Simple...

February 15, 2025

Is this Bounce a Robust Rebound or a...

December 27, 2024

All-Time Highs and An Upcoming Rate Cut: We’re...

June 28, 2025

Only One Group Has Shown Consistent Relative Strength...

January 19, 2025

MEM TV: Here’s How to Trade Explosive Stocks...

May 18, 2024

    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.

    Recent

    • Trump nominees squeezed between ‘blue slips’ and blue obstruction

      September 1, 2025
    • Trump says he will require voter ID with executive order

      September 1, 2025
    • Former FBI Director Robert Mueller has Parkinson’s disease: report

      September 1, 2025
    • Commencement of Henbury Field Program

      September 1, 2025
    • RCM to Acquire Webbs Consol Silver Project from Lode Res.

      September 1, 2025

    Categories

    • Business (1,092)
    • Investing (2,946)
    • Politics (3,598)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.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 sportinvestorsleague.com | All Rights Reserved