HEADER - This is the end of gold bull thesis. SUMMARY - This is what price regressions show cumulatively for all available time frames (since 1960s). For what it's worth, this is also then end of of my development of regression-based forecasting. Kind of funny that my first published idea was also called "gold crash", but it is what it is. PREREQUISITES...
Don't have a lot to add now, but obviously at 1:1, silver is the outstanding 6-mo trade and 2021's Trade of the Summer.
The silver volume action is clearly beginning to tighten since last July and while I would not recommend doing strict TA on the OBV with EMAS its clear that eventually this triangle with have to break one way or the other. the OBV going sideways is a theoretical option but with the price action struggling against the 400W simple moving average and the divergences...
Currently looks like a breakdown and backtest. Watching for success/fail.
From a purely technical standpoint, the 2 month chart is reflecting that this interim top is in and a significant long-term decline is in the offing. This is a study. Compare and contrast the two major events. History is your friend.
The 2 hr. silver depicts breakdown with the 50, 100 and 200 day simple moving averages beginning to rotate and roll over. Longer timeframes are reflecting similarly.
We got another reversal confrimation today. Like gold, we are heading for a lower low on this pullback. I'd expect to see 15.8-16.3. Invalidate this position if the recent high from yesterday is taken out.
Silver daily has gone parabolic and is rapidly approaching resistance.
Lots and lots and lots of resistance. Indicators and history suggest longer term SILVER is headed down, and it's a long way down to trend.
Silver Weekly- decent bounce off previous lows, MACD turn up, SQZMOM green, 50 MA res test. Dec 30 657 PM #Silver $SLV $USLV $DSLV
SILVER MACD on weekly may turn up here. #Silver $SLV $USLV $DSLV
Silver touch to 100 MA and came off. Intra getting a bounce here.
Silver touch to 100 MA on Weekly. Not saying it will go... but I wouldn't want to be short. $SLV, $USLV, $DSLV
Strong consolidation here. trend has been sideways but volume is building.
Silver Heading to Descending Triangle Nirvana $15 Target
Simple and sweet. All pertinent info is in graph