Silver Price Could be Headed to $12

Posted on by The INO.com Team

Written by: Octafinance.com

Even though we are long-term bullish on gold and silver we are negative medium-term. The Silver chart shows a technical setup with a possible target of a $12 per ounce.

Long-Term Silver Price Chart Still Positive

There is so much to see on the silver chart that we feel obligated to share our interpretations for the future price movement. We will start with the big picture. The whole move of 180%+ from $18 to $50 between 2010 and 2011 had only a minor correction. When the price crossed the upper channel of the long-term chart going back to 2002, it alerted us that silver is out of sync with normal markets.

Source: Rightedgesystems + Octafinance Interpretations

Of course as with any parabolic movement, the trend was not sustainable. Silver couldn’t break $50 per ounce barrier and sellers' came. The CME also increased the margins which forced all longs to cover (sell), as the sentiment was more than positive “98% of all traders were bullish silver” according to the Daily Sentiment Index (DSI). What happened after that is obvious from the chart, silver experienced a few technical setups that all broke down, reverting the parabolic movement to the upside down. Now based on the long-term support line formed during the last 13 years, we have a support around $11-$12 per ounce. Continue reading "Silver Price Could be Headed to $12" →

5 Stocks I Found Using The Trade Triangle Technology

Posted on by The INO.com Team

Hello traders and MarketClub members everywhere. Today I will be looking at five stocks that I found using the Trade Triangle technology. All five of these stocks are in positive trends and have +90 to +100 Scores. The Trade Triangles signaled that these stocks were in a strong uptrend yesterday.

Here's a little background on each of the five stocks I will be looking at in today's video.

VMware, Inc. (NYSE:VMW)
VMware, Inc. provides virtualization infrastructure solutions in the United States and internationally. The company's virtualization infrastructure solutions include a suite of products designed to deliver a software-defined data center (SDDC), run on industry-standard desktop computers and servers, and support a range of operating system and application environments, as well as networking and storage infrastructures. Its solutions enable organizations to aggregate multiple servers, storage infrastructure, and networks together into shared pools of capacity. The company was incorporated in 1998 and is headquartered in Palo Alto, California. VMware, Inc. operates as a subsidiary of EMC Corporation. Continue reading "5 Stocks I Found Using The Trade Triangle Technology" →

Avoiding Mental Sabotage

Posted on by The INO.com Team

If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple.

If you like this article, Larry’s also agreed to give you free access to his award winning book.

I have heard that 95% or more of all traders ultimately fail.

Have you ever wondered why?

Most traders will tell you it was the system or method they were using. They'll also tell you they had a few bad trades they couldn't recover from. Or their dog chewed through the telephone cord just as their computer crashed, and they couldn't get out of a losing trade. Continue reading "Avoiding Mental Sabotage" →

Gold and Silver: Catch The Wave Up

Posted on by Aibek Burabayev

Aibek Burabayev - INO.com Contributor - Metals


Gold

4H Gold Chart
Chart courtesy of Tradingview.com

Last week, the Gold short trade was stopped above $1200. Price immediately broke back above the head and shoulders neckline beyond $1200 and that was it. Stops are a good risk management instrument, they should be set at once and should be tight to protect your capital.

Today I prepared for you a totally new idea with a fresh look. I combined a classic trend model with the Elliott Wave technique and it is shown according to the long-term model posted at the start of this month.

Gold charted a good upside impulse wave 1 (of A) from the March low at $1142 up to the intermediate high at $1224. Then a correction wave 2 emerged and price retraced down to the 50% Fibonacci area at $1184. Usually, the 2nd wave corrects down to 61.8%-99% of the 1st wave, but this time we have had only half of it which means that the market accumulated enough bullish momentum to continue higher. Continue reading "Gold and Silver: Catch The Wave Up" →