To The Moon

$Fortuna Silver Mines(FSM)$

📈🔺🅱️🆄🅻🅻🅸🆂🅷🔺📈

🌟📈 Silver & Gold Setups – Spotlight on FSM’s 100% Upside 📈🌟

Kia ora Tiger traders!

The market’s post-election playbook is unfolding, and Gold ($GLD) and Silver ($SLV) are starting to light up with familiar post-election setups. Fortuna Silver Mines ($FSM) has joined the spotlight with a chart pattern suggesting 100% upside potential! Here’s the deep dive into what’s looking like an epic setup.

🪙 Gold ($GLD): Reversal Setup in Play?

The GLD chart is following a classic post-election path: a short-term dip, which often signals an entry point as inflation worries start simmering. GLD’s channel breakdown positions it right near support, aligning with the inverse head-and-shoulders pattern – a bullish indicator for the weeks ahead.

   •   Current Price: $240.05

   •   50-Day Moving Average: $241.81 – This is a key trigger for a bullish reversal.

   •   Support Level: $235 – Buyers may pile in here.

   •   Resistance Target: $255 – Breaking this could signal further upside.

📈 Pattern Insight: GLD is teetering at its pivot zone. If the inverse head-and-shoulders completes, we’re looking at a potential swing opportunity to capture some gains.

🟢 Buy: 5 analysts 🟡 Hold: 3 analysts 🔴 Sell: 2 analysts

🥈 Silver ($SLV) & AGQ: Ready to Rally?

SLV is moving within a rising wedge near support at $28, while AGQ, the leveraged silver play, has established a parabolic curve that’s primed for an aggressive breakout. The structure of these charts hints at powerful upside if silver continues its upward momentum.

   •   SLV Price: $28.07

      •   Support: $27.50

      •   Resistance: $30.00 – A breakout here could ignite a major rally.

   •   AGQ Price: $38.78

      •   Support: $37.50

      •   Resistance: $44.00 – This level is pivotal for confirming the bullish path.

📉 Pattern Insight: SLV’s ascending triangle and AGQ’s parabolic formation suggest the possibility of fast gains if silver pushes past resistance.

💎 Fortuna Silver Mines (FSM): 100% Upside in Sight 

FSM is showing a rounded bottom pattern, pointing to potential accumulation and a move toward $10. This is a textbook setup that screams “upside,” especially if silver’s resurgence takes hold. The FSM chart aligns with historical moves that often signal breakout potential in mining stocks when silver starts gaining traction.

   •   Current Price: $5.15

   •   Upside Target: $10.00 – Doubling potential if the pattern completes.

📈 Pattern Insight: FSM’s rounded bottom is a classic sign of an uptrend in the making, with possible institutional backing. If this level breaks, we could be in for a sharp move to the upside.

🌐 Broader Market Context – Metals Moving Up

Historically, precious metals, especially gold and silver, have rallied after U.S. elections. Following the 2016 elections, these metals saw 15% gains, a trend that could repeat if economic conditions favor inflation hedges. With silver’s dual role as both an industrial and precious metal, and the global push for renewable energy, fundamentals support this technical setup.

🛢️ Crude Oil & Copper: Weak but Watching

Crude oil and copper remain weak, a seasonal pattern in post-election cycles. Crude’s trading at multi-month lows, showing limited buying interest, while copper demand is steady but uninspiring. This underperformance could bolster the appeal for silver as both a safe-haven and industrial asset.

OPEC lowered its global oil demand growth forecast for 2024 and 2025 due to weaker demand revisions in China and other Asian markets.

This marks the fourth consecutive month of downward revisions by OPEC, reflecting concerns about a slowdown in China's economic growth.

OPEC's reduced demand forecast may impact its production cut decisions and lead to a weaker oil market outlook.

For a fourth consecutive month, OPEC slashed on Tuesday its estimate of global oil demand growth for both this year and next, citing downward revisions in China and other Asian markets after seeing actual consumption data year to date.

OPEC now expects global oil demand to grow by 1.82 million barrels per day (bpd) this year, down by 107,000 bpd from last month’s assessment, the cartel said in its closely-watched Monthly Oil Market Report.

Total world oil demand is anticipated to reach 104.0 million bpd in 2024, bolstered by strong transportation fuel demand and ongoing healthy economic growth, particularly in a number of non-OECD countries, said OPEC.

However, the organization made today its fourth downward adjustment of demand growth estimates for the world and China for the fourth consecutive month.

OPEC’s latest downward revision of demand forecasts follows its decision from earlier this month to delay the beginning of the reversal of the production cuts to January 2025 from December 2024.

The downward revision of global demand growth forecasts reflected yet another reduction in OPEC’s expectations of Chinese oil demand growth.

OPEC cut China’s demand growth forecast to 450,000 bpd this year, down from 580,000 bpd growth expected last month. The assessment of Chinese oil demand growth in 2025 was also cut by around 100,000 bpd and OPEC now sees Chinese demand growing by just 310,000 bpd in 2025, down from a previous projection of 410,000 bpd growth.

The cartel also lowered by 103,000 bpd its projection of global oil demand growth for 2025 and now expects it at 1.54 million bpd year-over-year, down from 1.64 million bpd growth projected in the October report.

🤓 Fun Fact

Silver is essential for solar panel production, making it more than just a precious metal. With demand for renewable energy increasing, silver’s industrial value only adds to its allure in the current market environment.

Hey Tiger Traders, are you ready to take advantage of these setups? Are you as bullish on FSM’s upside as I am?

TigerGPT: What indicators would you suggest to confirm breakout potential in FSM and AGQ? How would you structure a risk-balanced entry in a mining stock like FSM?

Happy trading ahead. Cheers, BC 🍀🍀🍀

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