Gold, Stocks, Bonds, Crypto And More

GLD (Gold ETF)

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From its high of 193 in early January to its recent low of 168, GLD has declined thirteen percent.

SPX (S&P 500 Index)

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From its high in late December at 4818, to its recent low of 3858, the S&P 500 Index has declined twenty percent.

TLT (Long Term US Treasury Bond Index)

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From its high point in early December at 155 to its recent low at 112, this ETF of long-term US Treasuries has declined twenty-seven percent.

BITCOIN FUTURES CME

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From its high point of just under 70,000 (69,355) in November past, the price of the most-watched cryptocurrency has declined a whopping sixty-three percent to its recent low at 25,350.

ALL-ASSET CRASH?

Before trying to answer that, there is another question to ask first that will help clarify the situation: Has any asset class or investment been going up lately? None that I am aware of – except energy and food.

Also, being short something is not an investment in a particular asset or asset class as much as it is a speculation on dropping prices. So we can rule out inverse ETFs, put options, and selling short.

We can also rule out real estate which seems to be treading water at best, with the possibility of going under as rates keep rising.

What about silver? I thought you’d never ask. Here is a similar chart to those above; this one is for SLV…

SLV (Silver ETF)

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From its 52-week high last June at 26.43 to its recent low at 19.01, SLV has declined twenty-eight percent.

Has anything gone up or at least not dropped recently? Well, yes; commodities in general. This includes primarily foodstuffs and energy which we have already mentioned, and some industrial commodities.

CRB INDEX

Since the beginning of the current calendar year the CRB Index has increased more than thirty percent. That is in direct contrast to nearly everything else we have mentioned thus far.

The index consists of 19 commodities: Aluminum, Cocoa, Coffee, Copper, Corn, Cotton, Crude Oil, Gold, Heating Oil, Lean Hogs, Live Cattle, Natural Gas, Nickel, Orange Juice, RBOB Gasoline, Silver, Soybeans, Sugar and Wheat. (source)

DIFFERENCES AND DISTINCTIONS

When we talk about the financial markets, we are referring to stocks (equities) and bonds (debts). We are also talking about derivatives based on those underlying items, such as ETFs, options, swaps, and spreads.

The financial markets are separate and distinct from the commodities markets. The fundamentals for both markets are different, yet, there are factors which can affect both markets.

The currency markets are also separate and distinct from the commodity and financial markets, although, what goes on in the currency markets can have significant impact on the financial (stock and bond) markets and, to a lesser extent, the commodities markets.

As in the financial markets, there are also derivatives in the commodities markets (options and futures) and currency markets (usually involving currency exchange rates).

FINANCIAL ASSETS ARE OVERPRICED

In the case of prices for stocks, bonds and other financial assets, the recent high prices discounted years of profitability.

Even allowing for a highly generous application of price-to-earnings ratios,  prices far exceeded the most favorable expectations for future growth.

The problem is much worse, though, than simple overvaluation of assets. The US and world economies are debt-dependent. The excessive valuations in financial asset prices are the result of an abundance of cheap credit.

Most economic activity is funded primarily by cheap credit; whether it be mortgages, business activity and corporate expansion, or retail consumption. Without access to unlimited amounts of credit the world economy would come to a standstill. The situation is precarious.

A FRAGILE ECONOMY AND A LOOMING DEPRESSION

Some are quick to assume that the Fed will take whatever steps are necessary to arrest the hellish descent. Of course, they will try. But they likely won’t be successful.

We have advanced too far down the path of money substitutes and cheap credit.

Also remember that the Fed is reacting to the effects of inflation and cheap credit which it (the Fed) created. (see Fed Action Accelerates Boom-Bust Cycle)

Whatever the Fed’s intentions are (or were), they caused the Great Depression of the 1930s and the Great Recession of 2008-2010.

The Next Great Depression will be worse and last longer. (Yes, I have said that before.)

Kelsey Williams is the author of two books: INFLATION, WHAT IT IS, WHAT IT ISN’T, AND WHO’S RESPONSIBLE FOR IT and ALL HAIL THE FED!

Silver Lacks Momentum Ahead Of Fed Interest Rate Decision

Silver ETF Stays Range-Bound

Silver is still trying to settle below the significant support level at $23.70 while U.S. dollar is moving higher against a broad basket of currencies. Meanwhile, iShares Silver Trust is trading near the $22.00 level.

The U.S. Dollar Index has recently managed to get above the 96 level and is trying to gain upside momentum ahead of the release of the Fed Interest Rate Decision. In case this attempt is successful, the U.S. Dollar Index will move towards the 96.25 level which will be bearish for silver and gold price today.

Gold has recently made another attempt to settle below the nearest support level at $1830 while SPDR Gold Trust declined below $171.50. If gold manages to settle below $1830, it will gain downside momentum and head towards the support at $1815 which will be bearish for silver.

Gold/silver ratio faced strong resistance at the 50 EMA near the 78 level and pulled back towards the 77 level. In case gold/silver ratio manages to settle below the 77 level, it will move towards the support at 76.50 which will be bullish for silver.

Traders should be prepared for fast moves after the Fed Interest Rate Decision which may have a big impact on the U.S. dollar and U.S. government bonds. If the Fed is too hawkish, silver may find itself under material pressure.

Technical Analysis

silver january 26 2022

Silver remains stuck in the range between the support at $23.70 and the resistance at $24.00.

In case silver gets above $24.00, it will move towards the next resistance level which is located at $24.25. A successful test of this level will open the way to the test of the resistance at $24.50.

On the support side, silver needs to get below $23.70 to have a chance to gain downside momentum in the near term. The next support level for silver is located near the 20 EMA at $23.50. If silver declines below the 20 EMA, it will head towards the support level at the 50 EMA at $23.25.

For a look at all of today’s economic events, check out our economic calendar.

Silver Tests Support At $23.70

Silver ETF Remains Under Significant Pressure

Silver continues its attempts to settle below the support at $23.70 while U.S. dollar is gaining ground against a broad basket of currencies. Meanwhile, iShares Silver Trust managed to get below the $22 level.

The U.S. Dollar Index managed to settle above the 96 level and is trying to get above the resistance at 96.25. In case this attempt is successful, it will head towards the next resistance level at 96.50 which will be bearish for silver and gold price today.

Gold has recently made an attempt to settle above the resistance level at $1845 but failed to develop sufficient upside momentum and moved back into the $1830 – $1845 range while SPDR Gold Trust tested the $173 level. In case gold manages to settle above $1845, it will gain additional upside momentum and head towards the next significant resistance level at $1875 which will be bullish for silver.

Gold/silver ratio has recently moved closer to the resistance at the 50 EMA at the 78 level. In case gold/silver ratio gets above this level, it will head towards 78.50 which will be bearish for silver.

Technical Analysis

silver january 25 2022

Silver failed to get above $24.00 and is testing the support level at $23.70. This support level has been tested during yesterday’s trading session and proved its strength.

In case silver declines below $23.70, it will move towards the next support level which is located at $23.50. A successful test of this level will open the way to the test of the support at the 20 EMA at $23.35. In case silver manages to settle below the 20 EMA, it will get to the test of the next support level at the 50 EMA at $23.25.

On the upside, the nearest resistance level for silver is located at $24.00. In case silver moves above this level, it will head towards the next resistance at $24.25. A move above $24.25 will push silver towards the resistance at $24.50.

For a look at all of today’s economic events, check out our economic calendar.

Silver Pulls Back Amid Global Market Sell-Off

Silver ETF Is Under Strong Pressure

Silver is currently trying to settle below the support at $23.70 while U.S. dollar is gaining ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle below the $22 level.

The U.S. Dollar Index has recently managed to get back above the 96 level and is trying to gain additional upside momentum. In case the U.S. Dollar Index manages to settle above 96, it will head towards the resistance at 96.25 which will be bearish for silver and gold price today.

Gold continues to trade in the range between the support at $1830 and the resistance at $1845 as it is supported by increased demand for safe-haven assets amid global market sell-off. Meanwhile, SPDR Gold Trust is trading near $171.50. In case gold stays above the support at $1830, it will get to another test of the resistance at $1845 which may provide more support to silver.

Gold/silver ratio rallied towards 77.50 and is trying to settle above this level. In case this attempt is successful, gold/silver ratio will head towards the 50 EMA at 78 which will be bearish for silver.

Technical Analysis

silver january 24 2022

Silver is currently testing the support level at $23.70. RSI is in the moderate territory, and there is plenty of room to gain additional downside momentum in case the right catalysts emerge.

In case silver settles below $23.70, it will get to the test of the next support at $23.50. A move below this level will push silver towards the support at the 20 EMA at $23.30. If silver declines below the 20 EMA, it will move towards the next support level which is located at the 50 EMA at $23.20.

On the upside, a move above $23.70 will push silver towards the resistance at $24.00. In case silver gets above this level, it will move towards the next resistance at $24.25. A successful test of this level will open the way to the test of the resistance at $24.50.

For a look at all of today’s economic events, check out our economic calendar.

Silver Stays Near $24.50 While Gold Pulls Back From Recent Highs

Silver ETF Pulls Back

Silver is currently trying to settle back below $24.50 while U.S. dollar is losing ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is moving towards $22.50.

The U.S. Dollar Index is currently trying to settle below the 50 EMA at 95.60. If the U.S. Dollar Index manages to settle below this level, it will move towards the support at 95.40 which will be bullish for silver. Weaker dollar is bullish for precious metals as it makes them cheaper for buyers who have other currencies.

Gold has recently made an attempt to get back below the support level at $1830 but failed to develop sufficient momentum while SPDR Gold Trust moved towards $171.50. In case gold settles back below $1830, it will head towards the next support level at $1845 which will be bearish for silver.

Gold/silver ratio managed to find support near the 75 level after the recent downside move. If gold/silver ratio manages to settle above 75.50, it will head towards the 76 level which will be bearish for silver.

Technical Analysis

silver january 21 2022

Silver is currently stuck in the $24.25 – $24.50 range. In case silver manages to settle below the support at $24.25, it will gain additional downside momentum and head towards the next support level at $24.00. A successful test of this support level will open the way to the test of the next support at $23.70.

On the upside, silver needs to settle back above $24.50 to have a chance to gain upside momentum in the near term. RSI pulled back into the moderate territory, so there is enough room to develop momentum in case the right catalysts emerge.

In case silver settles above the resistance at $24.50, it will head towards the next resistance level at $24.80. A successful test of the resistance at $24.80 will push silver towards the resistance at $25.00. If silver gets above this level, it will head towards the resistance at $25.40.

For a look at all of today’s economic events, check out our economic calendar.

Silver Tests Resistance At $24.50

Silver ETF Continues To Rally

Silver is currently trying to settle above the resistance at $24.50 while U.S. dollar is mostly flat against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle above $22.70.

The U.S. Dollar Index is testing the support level at the 50 EMA at 95.55. In case the U.S. Dollar Index manages to settle below the 50 EMA, it will move towards the support at 95.40 which will be bullish for silver and gold price today.

Gold managed to settle above the resistance level at $1830 and is testing the next resistance at $1845 while SPDR Gold Trust is trying to settle above $172.50. In case gold manages to settle above the resistance at $1845, it will gain additional upside momentum and move towards the next resistance level at $1875 which will be bullish for silver.

Gold/silver ratio is testing the support level at 75. In case gold/silver ratio declines below this level, it will head towards 74.50 which will be bullish for silver. It should be noted that RSI for gold/silver ratio has recently moved into the oversold territory, so the risks of a pullback are increasing.

Technical Analysis

silver january 20 2022

Silver managed to settle above the resistance at $24.25 and is testing the next resistance level at $24.50. In case silver manages to settle above this level, it will head towards the next resistance at $24.80.

A move above $24.80 will push silver towards the resistance at $25.00. A successful test of this level will open the way to the test of the next resistance which is located at $25.40.

On the support side, the previous resistance at $24.25 will serve as the first support level for silver. RSI has recently moved into the overbought territory, so the risks of a pullback are increasing. In case silver declines below this level, it will head towards the next support at $24.00. A successful test of the support at $24.00 will push silver towards the next support at $23.70.

For a look at all of today’s economic events, check out our economic calendar.

Silver Rallies While Gold Moves Above $1830

Silver ETF Gains Ground As Gold/Silver Ratio Moves To New Lows

Silver is trying to settle above the $24 level while U.S. dollar is losing ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to get above $22.20.

The U.S. Dollar Index is currently testing the support level at the 50 EMA near 95.55. In case this test is successful, the U.S. Dollar Index will move towards the next support at 95.40 which will be bullish for silver and gold price today. Weaker dollar is bullish for precious metals as it makes them cheaper for buyers who have other currencies.

Gold is currently testing the resistance level at $1830 while SPDR Gold Trust is trying to settle above $171.50. In case gold manages to settle above $1830, it will move towards the next resistance at $1845 which will be bullish for silver.

Gold/silver ratio continues to move lower at a fast pace. It has recently managed to settle below the 77 level and is testing the support at 76.50. In case this test is successful, gold/silver ratio will move towards the 76 level which will be bullish for silver.

Technical Analysis

silver january 19 2022

Silver is currently testing the resistance level at $24.00. In case silver manages to settle above this level, it will move towards the next resistance at $24.25. RSI remains in the moderate territory, so there is enough room to gain upside momentum in case the right catalysts emerge.

A successful test of the resistance at $24.25 will push silver towards the resistance at $24.50. If silver gets above $24.50, it will head towards the next resistance level at $24.80.

On the support side, the previous resistance level at $23.70 will serve as the first support level for silver. If silver declines below this level, it will move towards the next support at $23.50. A successful test of the support at $23.50 will push silver towards the support level which is located at $23.20.

For a look at all of today’s economic events, check out our economic calendar.

Silver Tests Resistance At $23.50

Silver ETF Rallies As Gold/Silver Ratio Declines

Silver is currently trying to settle above the resistance at $23.50 while U.S. dollar is gaining ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle above $21.60.

The U.S. Dollar Index is testing the resistance at the 50 EMA at 95.55. In case the U.S. Dollar Index manages to settle above this level, it will move towards the next resistance at the 20 EMA at 95.70 which may be bearish for silver and gold price today.

Gold is currently trying to settle below the support at $1815 while SPDR Gold Trust is trying to get below $169.50. If gold settles below $1815, it will head towards the next support at $1800 which will be bearish for silver.

Gold/silver ratio gained strong downside momentum after it managed to settle below the 50 EMA at 78.35. Currently, gold/silver ratio is trying to settle below 77.50. In case this attempt is successful, gold/silver ratio will move towards the 77 level which will be bullish for silver.

Technical Analysis

silver january 18 2022

Silver managed to settle above the resistance at $23.20 and is testing the next resistance level at $23.50. In case this test is successful, silver will move towards the resistance at $23.70. RSI remains in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge.

A move above the resistance at $23.70 will open the way to the test of the resistance at $24.00. If silver gets above this level, it will head towards the next resistance at $24.20.

On the support side, the previous resistance at $23.20 will serve as the first support level for silver. If silver settles below this level, it will move towards the next support which is located near the 50 EMA at $23.00.

A successful test of the support at $23.00 will lead to a test of the next support level near the 20 EMA at $22.90. If silver declines below this level, it will head towards the next support level at $22.75.

For a look at all of today’s economic events, check out our economic calendar.

Silver Is Mostly Flat At The Start Of The Week

Silver Remains Stuck Near The $23 Level

Silver is currently trying to settle back above $23.00 while U.S. dollar is gaining some ground against a broad basket of currencies.

The U.S. Dollar Index is testing the resistance level at 95.20. In case this test is successful, the U.S. Dollar Index will move towards the resistance at 95.40 which will be bearish for silver and gold price today. Stronger dollar is bearish for precious metals as it makes them more expensive for buyers who have other currencies.

Meanwhile, gold made an attempt to settle below the support at $1815 but failed to develop sufficient downside momentum and remained in the $1815 – $1830 range. In case gold declines below $1815, it will gain additional downside momentum and move towards the next support level which is located near the 50 EMA at $1800.

Gold/silver ratio is currently trying to settle above the 20 EMA at 79.25. A move above the 20 EMA will push gold/silver ratio towards the resistance at 79.50 which will be bearish for silver.

It should be noted that U.S. stock markets are closed today, so ETFs like iShares Silver Trust and SPDR Gold Trust are not trading.

Technical Analysis

silver january 17 2022

Silver is testing the resistance level at the 50 EMA at $23.00. In case silver manages to settle above the 50 EMA, it will move towards the next resistance level which is located at $23.20.

RSI is in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge. If silver settles above $23.20, it will move towards the next resistance level at $23.50.

On the support side, the nearest support level for silver is located at the 20 EMA near $22.85. If silver moves below the 20 EMA, it will get to the test of the support at $22.75. A move below this level will push silver towards the support level which is located at $22.60.

For a look at all of today’s economic events, check out our economic calendar.

Silver Stays Range-Bound Ahead Of The Weekend

Silver ETF Lacks Momentum

Silver has recently made another attempt to settle above the resistance at $23.20 but failed to develop sufficient upside momentum and pulled back while U.S. dollar gained some ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trading near the 50 EMA at $21.30.

The U.S. Dollar Index failed to settle below the support level at 94.75 and moved back to the resistance level at 95. In case the U.S. Dollar Index manages to settle above this level, it will head towards the next resistance at 95.20 which will be bearish for silver and gold price today. Stronger dollar is bearish for precious metals as it makes them more expensive for buyers who have other currencies.

Gold remains stuck in the range between the support at $1815 and the resistance at $1830 while SPDR Gold Trust is trading in the $170 – $170.50 range. If gold manages to settle above $1830, it will gain additional upside momentum and move towards the next resistance at $1845 which will be bullish for silver.

Gold/silver ratio has recently made an attempt to settle above the 20 EMA at 79.25 but lost momentum and pulled back towards the 79 level. If gold/silver ratio settles below this level, it will move towards the 50 EMA at 78.35 which will be bullish for silver.

Technical Analysis

silver january 14 2022

Silver has recently moved closer to the support level at $23.00. In case silver manages to settle below this support level, it will get to the test of the next support at $22.90.

A successful test of the support at $22.90 will open the way to the test of the support at the 20 EMA at $22.80. If silver declines below this level, it will head towards the support at $22.60.

On the upside, the nearest resistance for silver is located at $23.20. In case silver settles above this level, it will head towards the next resistance at $23.50. A move above $23.50 will push silver towards the resistance which is located at $23.70.

For a look at all of today’s economic events, check out our economic calendar.

Silver Stays Above $23 As Dollar Moves To New Lows

Silver ETF Stays Strong As Gold/Silver Ratio Falls

Silver is currently trying to settle above the resistance at $23.20 while U.S. dollar is losing ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is testing the resistance at $21.50.

The U.S. Dollar Index settled below the support level at 95 and is currently trying to setlte below the next support at 94.75. In case the U.S. Dollar Index declines below this level, it will head towards the next support at 94.50 which will be bullish for silver and gold price today.

Gold made an attempt to get to the test of the resistance at $1830 but failed to develop sufficient upside momentum and pulled back towards $1815 while SPDR Gold Trust declined towards the $170 level. If gold settles below $1815, it will head back towards the $1800 level which will be bearish for silver.

Gold/silver ratio settled below the 79 level and is moving towards the 50 EMA at 78.30. A successful test of the 50 EMA will open the way to the 78 level which will be bullish for silver.

Technical Analysis

silver january 13 2022

Silver is currently testing the resistance level at $23.20. RSI is still in the moderate territory, and there is enough room to gain additional upside momentum in case the right catalysts emerge.

In case silver settles above $23.20, it will move towards the next resistance level at $23.50. A successful test of this level will open the way to the test of the resistance at $23.70. If silver manages to settle above this level, it will head towards the next resistance level which is located near $24.00.

On the support side, the nearest support level for silver is located at the 50 EMA at $23.00. If silver declines below this level, it will get to the test of the support at $22.90. A move below the support at $22.90 will open the way to the test of the support at the 20 EMA at $22.80.

For a look at all of today’s economic events, check out our economic calendar.

Silver Moves Towards $23 As Dollar Declines

Silver ETF Gained Ground After U.S. Inflation Reports

Silver is currently trying to settle above the resistance at the 50 EMA while U.S. dollar is losing ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle above the 50 EMA near $21.30.

The U.S. Dollar Index gained strong downside momentum after U.S. inflation reports met analyst expectations. The U.S. Dollar Index has already managed to settle below the support level at 95.40 and is testing the next support at 95.20. in case this test is successful, the U.S. Dollar Index will move towards the support at 95 which will be bullish for silver and gold price today.

Gold managed to settle above the resistance at $1815 and is trying to get to the test of the next resistance level at $1830 while SPDR Gold Trust managed to get above the $170 level. In case gold gets to the test of the $1830 level, silver will gain additional upside momentum.

Gold/silver ratio is currently testing the support level at the 20 EMA at 79.30. In case gold/silver ratio declines below the 20 EMA, it will move towards the 79 level which will be bullish for silver.

Technical Analysis

silver january 12 2022

Silver managed to get above the resistance at $22.90 and is trying to settle above the 50 EMA. In case this attempt is successful, silver will move towards the next resistance which is located at $23.20.

A successful test of the resistance at $23.20 will push silver towards the next resistance at $23.50. RSI remains in the moderate territory, and there is plenty of room to gain additional upside momentum in case the right catalysts emerge. If silver gets above $23.50, it will head towards the resistance at $23.70.

On the support side, the previous resistance at $22.90 will serve as the first support level for silver. In case silver settles back below this level, it will head towards the support at the 20 EMA at $22.75. A move below the 20 EMA will push silver towards the support at $22.60.

For a look at all of today’s economic events, check out our economic calendar.

Silver Gains More Ground As Dollar Pulls Back

Silver ETF Continues To Move Higher

Silver is currently trying to settle above the resistance at $22.60 while U.S. dollar is losing ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle above $20.90.

The U.S. Dollar Index has recently made an attempt to settle back above the resistance at 96 level but failed to develop sufficient upside momentum and pulled back towards 95.90. In case the U.S. Dollar Index settles below this level, it will head towards the support level at 95.75 which will be bullish for silver and gold price today.

Gold managed to get back above the $1800 level and is trying to develop additional upside momentum while SPDR Gold Trust is trying to get to the test of the $169 level. The next resistance level for gold is located at $1815. In case gold gets to the test of this level, silver will get more support.

Gold/silver ratio is currently trying to settle below the 80 level. If gold/silver ratio declines below 80, it will head towards the support at the 20 EMA at 79.35 which will be bullish for silver.

Technical Analysis

silver january 11 2022

Silver is testing the resistance level at $22.60. In case silver manages to settle above this level, it will get to the test of the next resistance near the 20 EMA at $22.75.

A move above the resistance at the 20 EMA will push silver towards the resistance at $22.90. If silver moves above this level, it will test the next resistance level which is located at the 50 EMA at $23.00.

On the support side, the previous resistance level at $22.30 will serve as the first support level for silver. In case silver declines below this level, it will move towards the next support at $22.10. A successful test of this support level will push silver towards the support at $21.90.

For a look at all of today’s economic events, check out our economic calendar.

Silver Price Daily Forecast – Silver Is Mostly Flat Despite Rising Treasury Yields

Silver ETF Tries To Gain Some Ground At The Start Of The Week

Silver is currently trying to settle above the resistance at $22.30 while U.S. dollar is gaining ground against a broad basket of currencies. Meanwhile, iShares Silver Trust ETF is trying to settle above $20.60.

The U.S. Dollar Index has recently managed to get back above the 96 level and is trying to get to the test of the next resistance level at 96.25. If the U.S. Dollar Index gets above 96.25, it will move towards the next resistance at 96.50 which will be bearish for silver and gold price today. Strong dollar is bearish for precious metals as it makes them more expensive for buyers who have other currencies.

Gold continues its attempts to get above the resistance level at $1800 while SPDR Gold Trust is trading above $167.50. If gold moves above this level, it will head towards the resistance at $1815 which will be bullish for silver.

Gold/silver ratio settled above the 80 level and continues its attempts to settle above 80.50. A move above this level will push gold/silver ratio towards the resistance at the recent highs near 81.25 which will be bearish for silver.

Interestingly, precious metals have not found themselves under strong pressure today despite rising Treasury yields, which indicates that they enjoy some support from safe-haven buying.

Technical Analysis

xag usd january 10 2022

Silver is testing the resistance level at $22.30. In case silver manages to settle above this level, it will move towards the next resistance at $22.60.

A successful test of resistance at $22.60 will push silver towards the resistance level which is located near the 20 EMA at $22.75. If silver gets above this level, it will move towards the next resistance at $22.90.

On the support side, the nearest support level for silver is located at $22.10. If silver manages to settle below this support level, it will head towards the next support at $21.90. A successful test of this support level will push silver towards the support at $21.50.

For a look at all of today’s economic events, check out our economic calendar.

Silver Price Daily Forecast – Silver Stays Weak Ahead Of The Weekend

Silver ETF Remains Under Pressure

Silver continues its attempts to settle below the support at $22.10 while U.S. dollar is losing ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle below $20.50.

The U.S. Dollar Index gained downside momentum after Non Farm Payrolls report indicated that U.S. economy added 199,000 jobs in December compared to analyst consensus of 400,000. The U.S. Dollar Index has recently managed to get below the support level at 96 and is moving towards the next support level at 95.75.  A move below this level will push the U.S. Dollar Index towards the 50 EMA at 95.65 which will be bullish for silver and gold price today.

Gold continues to trade below the $1800 level while SPDR Gold Trust is trying to move back below $167.00. If gold declines below $1785, it will head towards the support level at $1775 which will be bearish for silver.

Gold/silver ratio continues its attempts to settle above the 81 level. A successful test of this level will push gold/silver ratio towards 82 which will be bearish for silver.

Technical Analysis

silver january 7 2022

Silver is testing the support level at $22.10. If this test is successful, silver will head towards the next support at $21.90. RSI remains in the moderate territory, and there is enough room to gain additional downside momentum.

In case silver manages to settle below the support at $21.90, it will head towards the next support level which is located at $21.50. A move below this level will open the way to the test of the support at $21.30.

On the upside, silver needs to get above $22.30 to have a chance to develop upside momentum in the near term. The next resistance level for silver is located at $22.60.

If silver settles above $22.60, it will move towards the 20 EMA which is located near $22.75. A successful test of the resistance at the 20 EMA will push silver towards the next resistance level at $22.90.

For a look at all of today’s economic events, check out our economic calendar.

Silver Price Daily Forecast – Silver Is Down By 3% As Treasury Yields Keep Moving Higher

Silver ETF Is Under Strong Pressure

Silver is currently trying to settle below the support at $22.10 while U.S. dollar is losing ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle below $20.50.

The U.S. Dollar Index has recently moved back below the support at 96.25 and is moving towards the support level at 96. In case the U.S. Dollar Index gets below 96, it will head towards the next support at 95.75 which will be bullish for silver and gold price today. However, it remains to be seen whether weaker dollar will be able to provide material support to precious metals as Treasury yields keep moving higher.

Gold slipped back below the support at $1800 and is trying to get below the $1785 level while SPDR Gold Trust is trying to settle below $167.20. In case gold declines below $1785, it will get to the test of the significant support level at $1775 which will be bearish for silver.

Gold/silver ratio managed to settle above the 80 level and made an attempt to settle above 81. A move above 81 will open the way to the test of December highs near the 82 level which will be bearish for silver.

Technical Analysis

silver january 6 2022

Silver declined below $22.30 and is trying to get below the support at $22.10. In case this attempt is successful, silver will move towards the next support level which is located at $21.90.

A move below the support at $21.90 will push silver towards the support level at $21.50. In case silver declines below this level, it will head towards the next support at $21.30.

On the upside, the previous support level at $22.30 will serve as the first resistance level for silver. If silver manages to settle back above this level, it will head towards the resistance at $22.60. A successful test of the resistance at $22.60 will open the way to the test of the resistance at the 20 EMA at $22.75.

For a look at all of today’s economic events, check out our economic calendar.

Silver Price Daily Forecast – Silver Moves Back Above $23.00 As Dollar Declines

Silver ETF Gains Ground While Gold Gets To Another Test Of The Resistance At $23.15

Silver is currently trying to settle above the resistance at the 50 EMA near $23.15 while U.S. dollar is under pressure against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to get above its 50 EMA at $21.40.

The U.S. Dollar Index has recently declined below the 96 level and is trying to develop additional downside momentum. In case this attempt is successful, the U.S. Dollar Index will get to the test of the next support at 95.75 which will be bullish for silver and gold price today.

Weaker dollar provided material support to gold which tested the $1830 level while SPDR Gold Trust managed to get above the $170 level. In case gold moves above the $1830 level, it will gain additional upside momentum and head towards the next resistance level at $1845 which will be bullish for silver.

Gold/silver ratio continues its attempts to settle above the 79 level. If gold/silver ratio settles above 79, it will move towards the resistance at 79.50 which will be bearish for silver.

Technical Analysis

silver january 5 2022

Silver is currently testing the resistance level at the 50 EMA near $23.15. In case silver manages to settle above this level, it will gain additional upside momentum and head towards the next resistance which is located at $23.50. RSI remains in the moderate territory, and there is enough room to gain momentum in case the right catalysts emerge.

A move above the resistance at $23.50 will open the way to the test of the resistance at $23.70. If silver settles above $23.70, it will head towards the next resistance level at $23.90.

On the support side, silver will likely get material support at the 20 EMA near $22.90. In case silver declines below the support at the 20 EMA, it will head towards the next support level at $22.75. A move below this level will push silver towards the support at $22.60.

For a look at all of today’s economic events, check out our economic calendar.

Silver Price Daily Forecast – Resistance At $23.15 In Sight

Silver ETF Rebounds After Yesterday’s Sell-Off

Silver is currently trying to settle back above the resistance at $22.90 while U.S. dollar is moving higher against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to settle above $21.30.

The U.S. Dollar Index is currently stuck in the range between the support at 96.25 and the resistance at 96.50. In case the U.S. Dollar Index manages to settle below 96.25, it will move back to the support at 96 which will be bullish for silver and gold price today. Weaker dollar is bullish for precious metals as it makes them cheaper for buyers who have other currencies.

Gold received strong support near $1800 and is moving towards the resistance at $1815 while SPDR Gold Trust is trying to settle back above the $169 level. In case gold manages to settle above $1815, it will head towards the next resistance level at $1830 which will be bullish for silver.

Gold/silver ratio has recently made another attempt to settle above the 79 level but failed to develop sufficient upside momentum and pulled back. In case gold/silver ratio declines below 78.50, it will move towards the 50 EMA at 77.90 which will be bullish for silver.

It should be noted that Treasury yields continued to move higher today, but this move failed to put any pressure on silver and gold.

Technical Analysis

silver january 4 2022

Silver is currently trying to get to the test of the resistance which is located at the 50 EMA near $23.15. In case silver settles above this level, it will move towards the next resistance at $23.50.

A successful test of the resistance at $23.50 will push silver towards the next resistance level at $23.70. If silver gets above this level, it will move towards the resistance at $23.90.

On the support side, the nearest support level for silver is located at $22.90. In case silver moves back below this level, it will get to the test of the support at $22.75. A successful test of this support level will open the way to the test of the support which is located near recent lows at $22.60.

For a look at all of today’s economic events, check out our economic calendar.

Silver Price Daily Forecast – Silver Drops As Treasury Yields Rise

Strong Dollar And Rising Yields Put Pressure On Silver ETF

Silver is trying to settle below the support level at $22.75 while U.S. dollar is gaining ground against a broad basket of currencies. Meanwhile, iShares Silver Trust is trying to get below the $21.00 level.

The U.S. Dollar Index has recently managed to get back above the 96 level. In case the U.S. Dollar Index gains additional upside momentum, it will head towards the resistance at 96.25 which will be bearish for silver and gold price today. Strong dollar is bearish for precious metals as it makes them more expensive for buyers who have other currencies.

Gold declined below the support level at $1815 and made an attempt to get to the test of the next support at $1800 while SPDR Gold Trust declined below the $169 level. If gold moves back below the $1800 level, it will gain additional downside momentum and head towards the $1775 level which will be bearish for silver.

Gold/silver ratio has recently managed to settle above the 79 level and is trying to get above 79.50. In case this attempt is successful, gold/silver ratio will head towards the 80 level which will be bearish for silver.

It should be noted that Treasury yields gained strong upside momentum at the start of the year. The yield of 2-year Treasuries moved from 0.74% to 0.80%, providing support to the U.S. Dollar and putting pressure on precious metals.

Technical Analysis

silver january 3 2022

Silver declined below the support level at $22.90 and is testing the next support at $22.75. A move below this level will push silver towards the next support at $22.60.

If silver manages to settle back below $22.60, it will head towards the support at $22.30. A move below this level will open the way to the test of the support at $22.10.

On the upside, the previous support at $22.90 will serve as the first resistance level for silver. If silver settles above this level, it will head towards the resistance at the 50 EMA which is located near $23.15. A successful test of this resistance level will open the way to the test of the resistance at $23.50.

For a look at all of today’s economic events, check out our economic calendar.

Sector Themes In Play In The Markets For 2022

Years like 2021 saw a solid broad-based performance in many stock market sectors. Relatively simple approaches such as Indexing and Sector Rotation did well. But with macro changes in play and many uncertainties for 2022, we may very well see broad indexes underperforming while individual sectors dominated by a few stocks really shine.

Dips will continue to be bought unless something significant changes. But let’s not forget that we’re long overdue for a substantial correction. Significant risk catalysts are:

  • Fed actions.
  • International conflicts (i.e., Russia and China).
  • Pandemic developments that are not currently known.

There’s always the risk of the unknown – the literal definition of a “Black Swan” event. We shouldn’t get too complacent, knowing that we may need to get defensive to protect capital suddenly. When it’s time to be defensive, let’s not forget that CASH IS A POSITION!

Sector theme DRIVERS FOR 2022

Many uncertainties about Covid and the lingering effects on the economy remain. Inflation has roared back to 30-year highs. Strong employment numbers and consumer spending are fueling significant growth in corporate earnings. We also have a shift in bias at the Fed on interest rates and quantitative easing. These are the “knowns” and are theoretically priced in.

For these reasons and more, we should expect more of a “Stockpicker’s Market” in 2022. Certain sectors will do well and weather corrections better than the broader markets.

Even short-term traders can gain an edge by paying attention to what sectors are strongest. Traders tend to benefit most from playing the strongest stocks in the strongest sectors for bullish trades and choosing the weakest stocks in weaker sectors for bearish trades. That “tailwind” can make a significant difference in results.

Let’s look at some sector themes and individual names to keep an eye on in 2022.

ECONOMIC NORMALIZATION

A long-anticipated return to a “normal” economy will continue to be a theme — we just don’t know if that will be Post-Covid or Co-Covid. Or when. Air travel, theme parks, hotels, cruise lines, etc., have all suffered in the persistent Pandemic. What does seem to be changing is the idea of a “new normal” where virus variants may be with us for years to come. We will adjust socially and economically to that for the foreseeable future. DAL, UAL, LUV, AAL are airlines to watch, and the JETS ETF may be a good way to play a general recovery in this sector.

5G INTERNET

The much-hyped rollout of 5G network technology had its share of setbacks and technology disappointments. But 2022 should see the 5G deployment start to take off as technical issues are worked out, and the promise of widespread coverage with transformational performance becomes real. In the background supplying the 5G infrastructure are AMD, QCOM, ADI, MRVL, AMT, XLNX, and KEYS. Along with infrastructure and testing companies, shares of major carriers T, TMUS, and VZ languished for much of the second half of 2021 and looked poised for recovery in the coming year.

ARTIFICIAL INTELLIGENCE

In all its various forms (including autonomous vehicles), AI will remain a developing trend. Big players in the space to watch include MSFT, AMAT, GOOGL, NVDA, AAPL, and QCOM.

EVs and AUTONOMOUS VEHICLES

Electric Vehicles (EVs) are nearing an inflection point where widespread adoption is poised to take off. Technology and cost competitiveness has improved where some EVs will reach price parity with their traditional internal combustion counterparts.

While there are many smaller players in the EV space, automotive stalwarts F, GM, and TM are investing very heavily. TSLA has been grabbing the headlines, but many others want to stake out their territory in the space, including whole tiers of manufacturers and infrastructure enablers like WKHS, XPEV, NKLA, and CHPT.

MATERIALS and MINING

Gold, silver, and related miners underperformed for much of 2021 and now look poised for a recovery year as inflation, and monetary concerns grow. GLD, SLV, GDX, GDXJ, SIL, SILJ look good as both longer and mid-term plays. Metals and miners may get hit initially with a significant downturn in stocks but could ultimately demonstrate their safe-haven potential.

Specific to the growth in EVs, battery technology, etc., copper, lithium, and related basic materials should see stronger demand ahead. FCX looks particularly interesting as a dual play on gold and copper. LIT may be a good ETF play on lithium battery technology.

SEMICONDUCTORS

The market for chips is primed for exponential growth. EV’s have about ten times the number of specialty semiconductors as conventional vehicles. AI, crypto, 5G, mobile devices, and ubiquitous computing should drive growth in the semiconductor sector for some time to come.

REAL ESTATE

Real Estate and Homebuilders should continue to do well while employment numbers remain strong and if interest rates don’t rise too quickly. The inventory shortage in most real estate markets will likely persist well into the new year.

Storage REITs like PSA, LSI, and CUBE have been big winners in the Covid economy and still have room to run.

SUMMARY

Many sectors still look bullish after gains in 2021. But there are “storm clouds” on the horizon, and we must not take future performance for granted.

Lastly, one of the simplest ways to assess how sectors are measuring up is to watch the charts for the S&P SPDR series sector ETFs and a few others. Here are some notable ones to watch:

https://www.thetechnicaltraders.com/wp-content/uploads/2021/12/Dec-31-article.png

These can give us a good starting place to look for leading stocks in winning sectors as the year unfolds.

Let’s remain vigilant for possible market corrections and may the wind be at our backs!

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Enjoy your day!

Chris Vermeulen
Founder & Chief Market Strategist
TheTechnicalTraders.com