Silver's recent trend is interesting. After multiple tests of the lower support, it finally stabilized, forming a clear double bottom reversal pattern on the chart. Buying pressure is gradually increasing.
From the trading data and capital movements, the net long positions of non-commercial traders in COMEX silver have been steadily increasing, indicating that market sentiment is gradually improving. At the same time, silver ETF holdings are also steadily rising, which means funds are re-entering the market, reserving energy for the upcoming rally.
Gold has performed well, and silver is also rising accordingly, suggesting that the gold-silver ratio has room for correction. From a trading perspective, you can consider going long at key support levels, waiting for the price to move upward. The first step is to watch the previous high points; if the price breaks through that level, there are still resistance levels at integer positions above to watch.
Specifically, consider building a long position in the 71-72 range, with targets around 75-78.
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staking_gramps
· 14h ago
The double bottom pattern this time really has some substance. Can we hit 75 by trying at 71-72? With the current market conditions, it’s hard to justify not going long.
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RatioHunter
· 14h ago
Double bottom has formed again. This time, it feels a bit different, and funds are indeed slowly flowing back in.
Can we enter at 71-72, or is it better to wait and see for more stability?
It would be great if silver could dance along with gold this time, otherwise, it might face a solo slap in the face again.
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GateUser-3824aa38
· 14h ago
The double bottom reversal theory has been heard too many times; the key is whether it can truly break through or not, otherwise it will just be another false alarm.
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gas_fee_therapist
· 14h ago
The double bottom narrative is back again, and every time it's said, it never actually goes up... But this time, the data is indeed a bit different; funds are really entering the market.
75-78, got it. Remember that, take a gamble and give it a try.
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BrokenDAO
· 14h ago
A double bottom sounds good, but I've heard this narrative of "funds entering the market and sentiment improving" too many times. The question is, who is defining what is "key support"? Can position data reflect true intentions? Or is it just another signal in the ongoing game of funds?
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StableGenius
· 14h ago
double bottom plays out like clockwork, except when it doesn't... empirically speaking, these setups fail roughly 40% of the time but sure, let's pretend COMEX data is suddenly reliable. also ngl the 71-72 entry point is where everyone and their cousin gets trapped lol
Silver's recent trend is interesting. After multiple tests of the lower support, it finally stabilized, forming a clear double bottom reversal pattern on the chart. Buying pressure is gradually increasing.
From the trading data and capital movements, the net long positions of non-commercial traders in COMEX silver have been steadily increasing, indicating that market sentiment is gradually improving. At the same time, silver ETF holdings are also steadily rising, which means funds are re-entering the market, reserving energy for the upcoming rally.
Gold has performed well, and silver is also rising accordingly, suggesting that the gold-silver ratio has room for correction. From a trading perspective, you can consider going long at key support levels, waiting for the price to move upward. The first step is to watch the previous high points; if the price breaks through that level, there are still resistance levels at integer positions above to watch.
Specifically, consider building a long position in the 71-72 range, with targets around 75-78.