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Silver Price (XAGUSD)

XAGUSD

Update 12/08/2015

Silver moved down nicely into the 40 week trough which has just occured, shorts were profitable below 1580 in what proved to be a fairly volatile move. Now the chance is on for longs out of this 40 week low and I am in the market since the cross of the 20 day FLD to the upside. Price has already exceeded it’s 20 day and 40 day FLD targets and I expect the move to get up to 1600 ish during the first 80 day cycle (targets to be confirmed). Bear in mind the underlying trend is down with the 18 month cycle low back in late 2014 taken out during the recently concluded 40 week cycle. The shape of this first 80 day cycle (of 4) until the next 18 month low due in April 2016 will be revealing, watch this space!

XAGUSD_£__daily_12_08_2015

Update 18/06/2015

Silver, as you might expect, traces out similar cycles to the gold (xauusd) price. There was a large spike down back in late 2014 just after the 18 month trough hit. If you were not aware as a Hurst trader of the principle of commonality you may have taken this as the 18 month low. I ignored it as fundamental interaction, typically price will move like this then snap back immediately into the cyclic pattern. That is precisely what happened. Here is the latest outlook:

XAGUSD_£__daily_18_06_2015Silver price looks to have moved out of the final 80 day cycle of this first 40 week cycle. I have a slight reservation and that has to do with its length, which is around 92 days. That is quite long for an 80 day cycle but the move in gold has provided evidence supporting it. It has hit it’s first target in an ‘A’ category interaction which initially started off quite messy. I will wait, as in gold, for the peak of the 40 day before considering a short into the 40 week low, due late July.

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