Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Stocks

Textbook Double Top on Silver (SLV)

by May 31, 2024
May 31, 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 DecisionPointTrading 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
Recruiting and retaining multigenerational talent: what i’ve learnt as a business owner
next post
Is Aflac Set to Surpass Analysts’ Targets? Find Out Now!

You may also like

Market Maker Manipulation; Oops, They Did It Again!

May 13, 2025

Top Ten Charts to Watch for November 2024

November 2, 2024

Time for Sweet Talk: Sugar Futures

January 23, 2024

Major Market Shift As Week Ends Strong!

August 24, 2024

Three Charts Suggest Pullback Imminent

April 22, 2023

Market Stabilizes While Transports Hold Their Breath

September 14, 2022

QQQ: Critical Levels to Watch as Nasdaq Teeters...

August 6, 2024

Tech and Staples Leading Choppy S&P

March 27, 2023

DP Trading Room: Why the PMO is Better...

February 26, 2024

Week Ahead: Uptrend Stays Intact For NIFTY; RRG...

August 31, 2024

Market Maker Manipulation; Oops, They Did It Again!

May 13, 2025

Top Ten Charts to Watch for November 2024

November 2, 2024

Time for Sweet Talk: Sugar Futures

January 23, 2024

Major Market Shift As Week Ends Strong!

August 24, 2024

Three Charts Suggest Pullback Imminent

April 22, 2023

Market Stabilizes While Transports Hold Their Breath

September 14, 2022

QQQ: Critical Levels to Watch as Nasdaq Teeters...

August 6, 2024

Tech and Staples Leading Choppy S&P

March 27, 2023

DP Trading Room: Why the PMO is Better...

February 26, 2024

Week Ahead: Uptrend Stays Intact For NIFTY; RRG...

August 31, 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 Posts

    • Tesla sees UK sales rebound in June as EV market accelerates

      July 5, 2025
    • Hived raises $42m to roll out electric delivery fleet across southern England

      July 5, 2025
    • Week Ahead: NIFTY Set To Stay In A Defined Range Unless These Levels Are Taken Out; Drags Support Higher

      July 5, 2025
    • “A turning point for education”: James Caan launches bold education reform plan in House of Lords

      July 5, 2025
    • ‘Invest in Women’ fund criticised for slow rollout as MPs call for bolder action

      July 5, 2025
    • Iran regime escalates repression toward ‘North Korea-style model of isolation and control’

      July 4, 2025

    Categories

    • Business (8,397)
    • Investing (2,102)
    • Politics (15,945)
    • Stocks (3,190)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.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 futureretirementsuccess.com | All Rights Reserved