This chart is easier to see the channel, have not been able to figure out how to delete older posts yet. This chart includes the Armstrong pi cycle date line of early Oct. 2015 which according to my other work Platinum and probably gold should see their final lows. As for silver I am not sure when its final low will come, it could come earlier than than the other...
Saw "Technician"'s silver chart and inspired me to take a look. What I am interested in was the bottoming and rebound in 1982, and if history can repeat, how we can ride it and reap it in the near future. Interesting time.
Just a simple observation, the price of silver is hitting 15.00 major level, which was the ceiling for a secular 25-years sideways range. We might find some support here. Breaking 15 might extend the reversal to prices we never expected. twitter.com Also at my Facebook page www.thefxchannel.com My best regards, Technician
Silver has some extreme bearishness built up behind it. I am bullish long-term, but we are very likely to see a $14-hand on the metal. The nearest support is found at $14.62, while resistance can be seen at $15.60 (broken support). There are some growth worries out of China, which could give short-term support. However, there is endless central bank intervention...
The Similarity of the moves is uncanny. Silver just made new lows, will BTC follow. Also notice how the moves in BTC are happening 3x faster so going into next year BTC might predict the direction of Silver.
I am just curious how P&F Silver chart looks like. This P&F chart tells me silver futures wish to have ACCELERATED downtrend! If the selling continue, the "O" in the chart will just continue vertically until it hits 13.88!
Ever since silver hit the channel top in 2011, price of silver has been engaging in this long term downtrend channel. To aggravate the bleakness, a descending triangle (larger one) was formed inside this downtrend channel-(liken to putting salts on a wound/adding fuel into a fire). Consequently, the price broke down of the long term uptrend channel bottom and...
Silver, like gold, is forming a significant bottom as its weekly and daily RSI, Stochastics and MACD have all either turned higher or are completing their bottoming stage. Significantly, silver has been trading within a price range that previously saw consolidation activity in the summer months of 2010 before silver skyrocketed to near 50. I`m not suggesting...
I tend to think sugar leads silver last week sugar rebounded strongly at 161.8% extension The level for silver is 14.9405
What I'm thinking: bullion.directory
Silver has a big red Marubozu day, breaking the support around 18.50. Technically, it is a golden chance to add on to short position given the downward momentum at least for a momentum short-term trade. Just be vary of the S/R zone from 17 - 18.50
Obvious support line is down at 13 or so, Martin Armstrong thinks it will get there my Sept. 2015 ideally, but if it happens sooner then it may go lower.
Silver looks bearish and ready to breakout to the downside. Other preciuos metals seem having similar destiny
Possibly and definitely maybe. At any rate, the sell off on Friday was weak with no follow through. When there's no follow through, I start thinking opposite. Note that SI open interest near annual high while GC OI at the low. Silver Seasonal low in August.
I actually used this analogy from 2002 to 2012 to lay out why silver would go up in value dramatically since it was tracing out the pattern of the technology-driven bull market in gold. If you take a moment to reach Jim Roger's chapter in Jack Schwagers book on Market Wizards, you will read all about how gold was actually driven up by technology uses of gold, much...
I've been over this dozens of times in the past. This is the trade to end all trades. It makes me laugh how people can see a stock gain 10,000% but a commodity (which doubles as REAL money) cannot gain 3000% in value? It certainly can and has made moves similar in the past. $200 is a no brainer and the bubble highs will be much higher than that.