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Topic: 2019 The Year silver shines (Read 3059 times) previous topic - next topic

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Re: 2019 The Year silver shines
Reply #75
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Re: 2019 The Year silver shines
Reply #76
It seems like there is a lot of focus on gold with the traders.  Silver is just getting started. I believe it has a lot of room to go even after the big gains recently.  $21 should be easy by early 2020, and 26$ isn't out of the realm of possibility.


Silver will likely perform just like it did during any of the 4 periods where it broke consolidation during the bull run of 2001-11. It made gains of almost 100% in about 9 months. Putting it at $26ish in February or March.
If history repeats, it will then drop back to 21$ or lower in a month, consolidate for 18 months then make a new ATH or close to it in 2022.

  • Last Edit: August 25, 2019, 07:53:34 PM by edthelorax
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Re: 2019 The Year silver shines
Reply #77
the chances of a dip have increased quite a bit
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Re: 2019 The Year silver shines
Reply #78
the chances of a dip have increased quite a bit


I agree Ed, have a look at the gold silver ratio chart. The ratio is way below the lower BB, RSI is in oversold territory below 30, and MACD histogram looks like it is making a low. This suggests gold may out perform silver temporarily, but certainly does not suggest a secular turn.



Re: 2019 The Year silver shines
Reply #79
So this week silver took an unwanted trip to the woodshed but surprisingly came away essentially unscathed. MACD is tarnished but still bull oriented. RSI was way overbought and now positioned more reasonably, share price is still in the top half of the BB range, and recent moves this morning are very positive probably reflecting the employment report.



Re: 2019 The Year silver shines
Reply #80
So this week silver took an unwanted trip to the woodshed but surprisingly came away essentially unscathed. MACD is tarnished but still bull oriented. RSI was way overbought and now positioned more reasonably, share price is still in the top half of the BB range, and recent moves this morning are very positive probably reflecting the employment report.



Turns out the Friday morning positive moves did not hold up as the day wore on with silver closing down nearly a half buck. @ $18 plus, it is still in the upper have of the BB spread or above the 20 day MA. I am still thinking we are in a secular bull PM market and long term holding will continue to pay off, but if skilled enough with the fortitude to trade, these swings provide opportunity to juice the returns. My hat is tipped to Nikko as he seems to get it right much more than wrong. Even though I saw it coming, I did not trade it, albeit the previous weeks I did scalp some fiat with call options expiring in a day or two.

  • ken
  • [*][*][*][*][*]
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Re: 2019 The Year silver shines
Reply #81
I sold Thursday. Should have on Wednesday. Will buy later this week???? Wait to see....

Looking for a waterfall event Monday.
  • Last Edit: September 08, 2019, 09:51:46 PM by ken

Re: 2019 The Year silver shines
Reply #82
So this week silver took an unwanted trip to the woodshed but surprisingly came away essentially unscathed. MACD is tarnished but still bull oriented. RSI was way overbought and now positioned more reasonably, share price is still in the top half of the BB range, and recent moves this morning are very positive probably reflecting the employment report.



Turns out the Friday morning positive moves did not hold up as the day wore on with silver closing down nearly a half buck. @ $18 plus, it is still in the upper have of the BB spread or above the 20 day MA. I am still thinking we are in a secular bull PM market and long term holding will continue to pay off, but if skilled enough with the fortitude to trade, these swings provide opportunity to juice the returns. My hat is tipped to Nikko as he seems to get it right much more than wrong. Even though I saw it coming, I did not trade it, albeit the previous weeks I did scalp some fiat with call options expiring in a day or two.
I agree, hats off to Nikko.
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Re: 2019 The Year silver shines
Reply #83
A few examples of candles similar to last weeks.  -10% from high to low in a week.
I have said repeatedly that it feels just like 2003 did. As of now, it is starting to feel just like Jan. 2004


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Re: 2019 The Year silver shines
Reply #84
It appears there is more downside in silver. I believe it will not be as much as most will expect after it breaks the last low of $17.75ish.
maybe 17.50 or 17.10ish.
Anyone investing in silver must know that drops will sometimes be way worse than even the staunchest bears expect.
Keep your eyes on the ball.  The long term.
Any of these pink are possible downside targets. I see the higher 2 as much more likely.
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Re: 2019 The Year silver shines
Reply #85
$17.0x looks most likely IMHO.
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Re: 2019 The Year silver shines
Reply #86
If that was the bottom, the next run will be amazing.
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Re: 2019 The Year silver shines
Reply #87
looking at the chart below, MACD histogram has bottomed, STO curves are below 20 and poised to turn up, price per ounce looks to have made a short term shake out bottom and it is near to crossing the 20 day MA and up trending magenta resistance line around $18.25. I think a weekly closing in the upper half of the BB spread and crossing the resistance to make it support would lessen the if in your post and give us clearance for the ride you reference.

There is a lot of malfeasance in governments of the world right now, certainly not confidence building in same nor their currencies, which in general is supportive of PM's.