Silver is in short term consolidation before breaking $30
It doesn't matter what short term paper contracts do, or taking profits - the East is importing gold and silver at a beguiling rate that won't allow for much shenanigans for the metals market. I was however surprised to see the price bounce exactly off the top of the box.
I see silver going down to $24 area, shake out some hands, and rocket up past $30 after options expiration date. I see a smaller consolidation week in May before going even higher.
I HIGHLY recommend Silver Miners right now. They saw some life this week and last - and since they usually lag, I can see them being down for the next two weeks before going up themselves. I like
SIL
,
SILJ
, and NUGT for indices, and
NEM
for the best miner in the world for one simple reason - AMERICA will be the LAST country to nationalize their natural resources in a communistic reaction to the skyrocketing dollar. I expect that to happen starting next year.
I see silver going down to $24 area, shake out some hands, and rocket up past $30 after options expiration date. I see a smaller consolidation week in May before going even higher.
I HIGHLY recommend Silver Miners right now. They saw some life this week and last - and since they usually lag, I can see them being down for the next two weeks before going up themselves. I like
SIL
,
SILJ
, and NUGT for indices, and
NEM
for the best miner in the world for one simple reason - AMERICA will be the LAST country to nationalize their natural resources in a communistic reaction to the skyrocketing dollar. I expect that to happen starting next year.
Comment:
You can see silver broke a short term trend line for consolidation:
Comment:
Almost there...
Almost there...
Comment:
Will this begin the push down?
Comment:
TTM Squeeze building, two trend lines and the 200 is much lower, looking back there's always a return to the mean. Also look at that selling pressure, I still see a wobble before taking off.
TTM Squeeze building, two trend lines and the 200 is much lower, looking back there's always a return to the mean. Also look at that selling pressure, I still see a wobble before taking off.
Comment:
www.zerohedge.com/ma...llen-fx-intervention
Will Korea and Japan's Plaza Accord spur a Chinese devaluation? Yes if they actually do it. It won't work for long as the dollar will come roaring back as everyone defaults from hyperinflation. Ultimately I see 250 for the Yen, the Yuan will be 8-10 by the end of the year. This means that the dollar will lose ground before skyrocketing - which'll boost metals and miners to ATH's. But when the dollar comes back because of some deflationary catalyst and dollar shortage, risk assets will lose value cause no one will have enough dollars.
Will Korea and Japan's Plaza Accord spur a Chinese devaluation? Yes if they actually do it. It won't work for long as the dollar will come roaring back as everyone defaults from hyperinflation. Ultimately I see 250 for the Yen, the Yuan will be 8-10 by the end of the year. This means that the dollar will lose ground before skyrocketing - which'll boost metals and miners to ATH's. But when the dollar comes back because of some deflationary catalyst and dollar shortage, risk assets will lose value cause no one will have enough dollars.
Comment:
Comment:
Alright! Now we'll wait for this to bottom before going long - I will share some multibagger options play when that happens. And as always this is NOT financial advice.
Comment:
twitter.com/hajiyev_.../1783106622211912109
This guy is calling it, falling wedge before lift-off!
This guy is calling it, falling wedge before lift-off!
Comment:
Comment:
Target hit!
Comment:
Comment:
Comment:
About to take a huge dump after retracing up to the 200ema!
About to take a huge dump after retracing up to the 200ema!
Comment:
MACD shows this show is just getting started and RSI is falling
