{"id":1194,"date":"2025-05-30T13:45:58","date_gmt":"2025-05-30T13:45:58","guid":{"rendered":"https:\/\/thetradingdictionary.com\/index.php\/2025\/05\/30\/analyzing-sil-uso-and-nvda-could-these-bullish-patterns-trigger\/"},"modified":"2025-05-30T13:45:58","modified_gmt":"2025-05-30T13:45:58","slug":"analyzing-sil-uso-and-nvda-could-these-bullish-patterns-trigger","status":"publish","type":"post","link":"https:\/\/thetradingdictionary.com\/index.php\/2025\/05\/30\/analyzing-sil-uso-and-nvda-could-these-bullish-patterns-trigger\/","title":{"rendered":"Analyzing SIL, USO, and NVDA: Could These Bullish Patterns Trigger?"},"content":{"rendered":"
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SIL Silver Miners<\/h2>\n

SIL was among the leaders yesterday and now is\u00a0close to triggering this double-bottom bullish pattern.\u00a0Staying above the 43-mark would\u00a0target 47.\u00a0That’s not a big move, but let’s remember that SIL is sporting bullish formations on its longer-term charts, too.<\/p>\n

FIGURE 1. DAILY CHART OF GLOBAL X SILVER MINERS ETF (SIL).<\/span><\/p>\n

SIL \u2013 Weekly<\/h4>\n

Firstly, the double-bottom pattern on this weekly log chart annotated in blue remains alive. This objective is up near\u00a049.<\/p>\n

Secondly, the area highlighted in green here is the same pattern pictured on the daily chart above.\u00a0That area is sitting at the very top of a\u00a0much bigger bullish inverse head-and-shoulders pattern\u00a0that extends\u00a0all the way back to 2021.\u00a0Thus, if the short-term breakout works, it will trigger this one, as well.\u00a0That\u00a0target is in the mid-70s…<\/p>\n

FIGURE 2. WEEKLY CHART OF GLOBAL X SILVER MINERS ETF (SIL).<\/span><\/p>\n

SIL \u2013 Monthly<\/h4>\n

And that green pattern above is part of this\u00a0MUCH larger, 13-year potential double bottom.<\/em>\u00a0We still have a while to go before this one is triggered, but it’s important to keep all of these in the back of our minds.<\/p>\n

Anyone who trades or tracks SIL knows that short-term whipsaws are the norm.\u00a0So, while these breakouts may not be clean, the bullish structures are clear.\u00a0The bottom line is that if SIL continues to make higher highs and higher lows, the patterns will continue to work.<\/p>\n

FIGURE 3. MONTHLY CHART OF GLOBAL X SILVER MINERS ETF (SIL).<\/span><\/p>\n

USO Crude Oil<\/h2>\n

USO was among the leaders yesterday, but it’s\u00a0still trying to\u00a0bust through its 50-DMA,\u00a0which has been the sticking point the last few weeks. If it can soon, USO\u00a0could complete this potential bullish inverse H&S pattern.\u00a0The\u00a0upside target\u00a0would be in the\u00a077-78 range, and that would align with key short-term tops from the last year.\u00a0First step, push above the 50-day line…<\/p>\n

FIGURE 4. DAILY CHART OF US OIL FUND (USO).<\/span><\/p>\n

NVDA<\/h2>\n

The obvious question every time NVDA rallies is whether it’s too late to buy.\u00a0\u00a0To get a true sense of the stock’s technical prospects, we need to view it\u00a0across different charts and time frames.<\/p>\n

First, here’s a view of the bullish flag pattern we cited on Tuesday (along with TSLA, GOOGL and META).\u00a0Given the preceding staircase-like advance, the starting point of the flagpole is subjective.\u00a0We’re using the early May low given that the stock avoided filling a gap from a few days earlier.<\/p>\n

Regardless, the\u00a0measured move counts to the 161 zone, which would be a new all-time high.<\/p>\n

FIGURE 5. DAILY CHART OF NVIDIA CORP. (NVDA).<\/span><\/p>\n

This second one is a daily chart that extends all the way back to 2010 and\u00a0shows times when breaking below or above the 200-DMA led to strong, extended moves for the stock. From this angle, the recent 200-day breach didn’t last that long at all, and now NVDA has the chance to once again follow through after breaking back above it over the last few weeks.<\/p>\n

FIGURE 6. LONGER-TERM DAILY CHART OF NVIDIA CORP. (NVDA).<\/span><\/p>\n

Here’s a weekly, log chart going back to the 2022 low. NVDA has leveraged three major pattern breakouts since then to power the astounding rally the last two-plus years.\u00a0With the stock last having made a new high last October and being net flat since last July, an eventual push back above the 150-zone could prompt big pattern-breakout number four.<\/p>\n

FIGURE 7. WEEKLY CHART OF NVIDIA CORP. (NVDA).<\/span><\/p>\n

Lastly, here are the biggest breakouts on this monthly chart that goes back over two decades.\u00a0Again, looking at it from this viewpoint makes the last 11 months appear like a very small digestive phase, especially compared to the other three on the chart. Thus, the first step will be seeing how well NVDA can hold the opening gap. That’s important for today, but much more important for the days and weeks to come.<\/p>\n

FIGURE 8. MONTHLY CHART OF NVIDIA CORP. (NVDA).<\/span><\/p>\n<\/div>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

SIL Silver Miners SIL was among the leaders yesterday and now is\u00a0close to triggering this double-bottom bullish pattern.\u00a0Staying above the 43-mark would\u00a0target 47.\u00a0That’s not a big move, but let’s remember that SIL is sporting bullish formations on its longer-term charts, too. FIGURE 1. DAILY CHART OF GLOBAL X SILVER MINERS ETF (SIL). SIL \u2013 Weekly…<\/p>\n","protected":false},"author":1,"featured_media":1195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock"],"_links":{"self":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/posts\/1194","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/comments?post=1194"}],"version-history":[{"count":0,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/posts\/1194\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/media\/1195"}],"wp:attachment":[{"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/media?parent=1194"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/categories?post=1194"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thetradingdictionary.com\/index.php\/wp-json\/wp\/v2\/tags?post=1194"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}