Tag: silver charts

Cycle Counts – Gold

Cycle Counts – Gold

Now you know why I was “50-50” as per last weekend’s report; I was just never comfortable with that (Oct 24th – $1,698) Low holding up as an Investor Cycle Low.  There was just a lot of evidence out of my Cycle Analyzer that was telling me to be very cautious, that the retracement to date was just not deep enough.  So in reality what we have playing out here is essentially what I have been calling for since mid-October.  Some 5 weeks ago when the decline began, I pointed out that a move back below $1,680 would be a normal retracement and what to expect. We witnessed a trend-line break […]

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Silver Price Update – October 2012

Silver Price Update – October 2012

The silver price has been holding strong above $ 32 per ounce over the past  couple of weeks. The metal closed the month of October at the London Fix at $ 32.28, € 20.03, £ 24.28.  Where does the price of silver stand currently? The charts show a couple of interesting things. First, on the weekly chart we see the 50 day moving average about to cross the 200 day moving average. In technical terms it’s an important bullish event, called a golden cross over. Moreover, since the big smash of May 2nd 2011, the silver price has been standing very strong the past couple of weeks  compared to the previous […]

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Precious metals update

Precious metals update

Gold is now at the backside of prior “Major” trendline resistance, see right hand side chart below.  The bulls do not want to see a breakdown from here.  I mentioned in the previous post on gold that the breakout to the upside from the “Descending Triangle” pattern was not a signal to buy for the intermediate to long term for me.  I believe that risk is high in relation to probabilities of a new bullish trend developing in the daily timeframe.  Those who think that this trendline break is the “all-clear” signal to buy are “rolling the dice” in my opinion.  In the meantime, should the backside of this trendline hold as support, things start to get more interesting from a bullish […]

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Silver Update by Hubert Moolman

Silver Update by Hubert Moolman

The silver chart has formed a big pennant like that of the gold chart. What this indicates is that the silver price will likely make a massive move soon. Technically, this move can be up or down. Note that this update is from my premium service originally published on 6 August 2012. Below is a silver chart with the pennant: The technical and fundamental evidence that I have collected, and look at, tells me that the price is likely to go upward out of this pennant formation. On the chart above, you can see that the price has actually broken out (upward) of the pennant. We have to give it […]

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Gold price breaking out, silver price outperforming, 21 August 2012

Gold price breaking out, silver price outperforming, 21 August 2012

It’s the second day in a row that both the gold price and the silver price in US dollar are surging. They are breaking some of their technical resistance lines, although volume is not very high (typical for the last two weeks of August). The gold price in US dollar is up with 1%, the silver price in US dollar is up with some 2.3%. Spot prices in other currencies were not up today with a similar percentage, probably because prices are already near their all-time highs in most currencies while  dollar gold is some 15% below its nominal high. The interesting fact is that both gold and silver prices are approaching […]

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Silver – Trade Management

Silver – Trade Management

Brief important update:  Silver had a nice breakout from the pattern that was identified and laid out in this weekend’s update and the details of that post (which don’t include any “Fluff” or “Voo-Doo”) should be reviewed on the link provided below. The break would be more bullish if there was more volume, but these last two weeks of August are typically slow. Drawings for the “Trade Management” have been updated on the 3 month daily chart left hand side below.  Barring a catastrophic gap down, the risk is now quite small with some decent upside potential. These are the types of trades that will be shared in greater detail with my methodology […]

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Stealth Mode Rally in Silver Maybe not so Stealthy Anymore

Stealth Mode Rally in Silver Maybe not so Stealthy Anymore

I remarked last week that silver had been slyly working its way higher in very quiet fashion but was knocking on the door of overhead resistance. Today it broke that resistance and so far is doing it in convincing fashion. Based purely on technical factors, it should try to make a run at $29 where heavier supply awaits. That stands between it and a handle of “30” which will most certainly catch the attention of the momentum crowd. Take a look at the shorter term moving averages (not labelled). These are the 10 day and 20 day respectively. Notice that late last week BOTH MOVING AVERAGES crossed above the longer […]

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Look For The Silver Lining: Silver Swan Ready For Takeoff

Look For The Silver Lining: Silver Swan Ready For Takeoff

An old melody advises us to look for the silver lining whenever dark clouds appear in the blue.  There is economic and political upheaval all over the world, especially in the South China Seas.  This may directly affect the world’s supply of industrial metals such as graphite, rare earths, molybdenum and tungsten. Today we direct our attention to an area where silver is shining.  Poor man’s gold may come into prominence shortly and provide our subscribers with possible profits. The silver battlefield is filled with bulls and bears fighting for dominance.  Recently, the poor man’s gold has dropped to the $26 area.  The struggle continues between the opposing sides.  The […]

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Silver Price Forecast: Silver Could Preserve More Value Than Gold

Silver Price Forecast: Silver Could Preserve More Value Than Gold

The fundamentals for silver and gold are very strong, and with all the massive bailouts, which are increasing debt levels, they are just getting stronger. Until a significant portion of these debts is repaid or defaulted on, it would be foolish to talk about a top in precious metals. The repayment of debt (or default on debt – which is more likely) will result in significantly reduced economic activity. Significantly reduced economic activity will have a negative effect on the stock market, which in this case, will likely result in a huge crash. It is these conditions (a deflating debt bubble) that will drive gold and silver prices significantly higher. […]

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Silver Chart and Comments of 11 March 2012

Silver Chart and Comments of 11 March 2012

Silver continues to be the poor poster child for the Deflation or Risk Aversion Trade. It’s chart is abysmal at this point as it has steadily retreated since peaking near $50 in what seems a lifetime ago. About the only positive thing that can be said about it is that is had not been below the $26 level for some time now. That level still seems to be bringing in buyers. Unless something changes rather drastically over the next week, it looks like it is going to once again test the resolve of those buyers that have been busy down there. If it holds, fine; if not, it would get […]

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Target 1 reached on silver and update on gold

Target 1 reached on silver and update on gold

The initial profit taking target of the “Descending Triangle” pattern of the daily chart (right hand side below) on silver has been reached.  The “Head and Shoulders” pattern on the daily chart is still in play. Getting stopped out in noise or randomness for trailing a stop for no other reason but to protect a gain would have been brutal.  The profit from a swing trade in the descending triangle was good for approximately $11,500 per contract.  I discussed  “Trade Management” in the last post on silver here:http://scottpluschau.blogspot.com/2012/05/trade-management-in-silver.html I don’t take pride in pointing out patterns “after the fact”.  Anyone can do that.  I do it because these patterns have a history of repeating themselves and I believe […]

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Self-similarity Saves the Day for Gold & Silver Investors

Self-similarity Saves the Day for Gold & Silver Investors

Last week, we devoted the beginning of our essay on the possible move up in gold to reassure our bullish outlook on precious metals despite the fact that prices were falling then. We wrote: It’s tough being a lone voice saying that gold prices will go up when they have tumbled and the financial press is writing obituaries for the gold bull market. It’s also encouraging being a lone voice saying that gold prices will go up precisely because it means that the general sentiment is very bearish and this is what we see at major bottoms. The precious metals are on the move up and right now it seems that the […]

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Update on Silver with a follow up from the CFTC

Update on Silver with a follow up from the CFTC

This is a continuation from a post I did on silver after the extraordinary price and volume that took place late in the Comex session this past Tuesday. That post can be found here. Silver’s 50 day simple moving average of volume is around 44,000 contracts a day. And in three minutes before the close of the Comex it traded nearly 3,000 contracts with a sharp move in price of nearly down 1%. Within minutes after the close it did what I would call a U-turn and proceeded to march back toward where it broke down from in the proceeding overnight session. This seemed rather odd to me at the […]

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Do you believe that the silver market is manipulated?

Do you believe that the silver market is manipulated?

Do a search on manipulative scheme called “banging the close”. Then take a look at this 1 minute silver chart today in the last three minutes of trading.  Today is Tuesday which is the cutoff for the Commitments of Traders Report.  I was wondering when the cutoff was since Ed Steer mentioned it in his Gold and Silver Daily recently.  Is it at the close of the Comex, or the close of electronic trading? Take a look at the second chart which shows the trading in the overnight after the close of the Comex.  The left hand side is a 5 minute chart. What do you think?   Consulting?  ScottPluschau@gmail.com  

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