Best Thread Silver!

[YouAreNotFree]

Lets see if some jobs news (ADP, NFP) can trigger this sucker. Very low vol this past few days. The market is possibly waiting for more information before committing.

 

[Predicabo]

Modest physical demand plus low speculative interest leads to low volatility which leads to lower speculative interest ad nauseum. Consolidation below 30 where, as I said yesterday, a stack of offers await. Increasing physical demand will be driven by increasing economic growth in any one or all of the primary metals users, but this is a MoM phenomenon and not one that will exhibit the same dynamics as an events driven reaction. If you're banking on fat finger opportunities then plan trading a breakout above 30 or below 28 but don't factor in getting a re-test.

 

[YouAreNotFree]

Lets see if some jobs news (ADP, NFP) can trigger this sucker. Very low vol this past few days. The market is possibly waiting for more information before committing.

Looks like it triggered some modest covering.

I've been saying we are too short and sure enough we hit Tuesdays low to the tick and spiked up $0.6 after the better jobs news (incl a prev revision up) failed to initiate any selling conviction.

Last four days have seen higher or matching pit lows. We've traded 99% within last Thursdays range, finding some value at 28.50-29.00. It wouldn't surprise me to see that continue today awaiting the NFP tomorrow.

 

[Pat494]

The money is going into equities not silver/gold but it will change at a pivot point. Just where that is going to be, is not yet evident.

 

[Atilla]

The money is going into equities not silver/gold but it will change at a pivot point. Just where that is going to be, is not yet evident.

imo - That scenario is only likely if the US economy and the $ is exposed to uncertainty.

Right now with China and Europe still in head wind - that seems a distant possibility.

 

[emirfas1]

hello everyone,
this is my first message on this forum.

and this is my first question:

Will we see 26 dollars on silver? I sold my silvers at 34,5 and never buought again. I'm still waiting the bottom with patience for long term trading. Do you think we will see 1,26 on euro/usd, and 26 on silver? or are we loosing buy opportunity? I did not buy on 27,9, now it's 28,9 :|

 

[Atilla]

hello everyone,
this is my first message on this forum.

and this is my first question:

Will we see 26 dollars on silver? I sold my silvers at 34,5 and never buought again. I'm still waiting the bottom with patience for long term trading. Do you think we will see 1,26 on euro/usd, and 26 on silver? or are we loosing buy opportunity? I did not buy on 27,9, now it's 28,9 :|

This is what I'm looking at. Silver is in a downward trend. Would need to break out of 31-32 for a turn to the upside. Until then without some buying it will give way to the downside imo.

I originally thought 28 but 26 is equally lightly.

What may counteract this move is the so called currency wars with just about everybody trying to depreciate currencies by talking them down with QEs, promises of continued low interest rates and further stimulations whilst emphaising growth. Have your cake and eat it getting stuffed on easy money.

We've been here before but its being dressed up as something else.

Tough call either way and I don't have much conviction either way but I still favour the down side at the moment.

 

[malaguti]

This is what I'm looking at. Silver is in a downward trend. Would need to break out of 31-32 for a turn to the upside. Until then without some buying it will give way to the downside imo.

I'm seeing really strong support right now. You see downtrend, I see retracement.
WIll be watching the break of this blue line, before horizontal support kicks in

 

[isatrader]

Here's my long term silver P&F chart. There's strong volume support as you can see on the left of the chart and price support down to the $27 level. But if it starts closing below there then it could see a sharp drop down to $20 or below. To go back to a buy signal on this chart it needs to make a new breakout above $35.

I still maintain personally that Palladium is the best precious metal to be long in currently and I went long just after it's Stage 2 breakout on the 21st January as it's showing the best relative performance of the group and is above it's resistance from the last year, whereas silver and gold still have a fair bit of resistance to work through and are near the lows of their ranges, not breaking out like Palladium.

 

[malaguti]

Here's my long term silver P&F chart. There's strong volume support as you can see on the left of the chart and price support down to the $27 level. But if it starts closing below there then it could see a sharp drop down to $20 or below. To go back to a buy signal on this chart it needs to make a new breakout above $35.

I see 27, that's evident on mine also. Can't quite make out your box size though. Mine is longer than yours (if you'll excuse the pun ) clearly.
Will be interesting to see what plays out

 

[Atilla]

Here's my long term silver P&F chart. There's strong volume support as you can see on the left of the chart and price support down to the $27 level. But if it starts closing below there then it could see a sharp drop down to $20 or below. To go back to a buy signal on this chart it needs to make a new breakout above $35.

I still maintain personally that Palladium is the best precious metal to be long in currently and I went long just after it's Stage 2 breakout on the 21st January as it's showing the best relative performance of the group and is above it's resistance from the last year, whereas silver and gold still have a fair bit of resistance to work through and are near the lows of their ranges, not breaking out like Palladium.

For the last year silver shows a falling wedge on my charts. On your charts it shows a rise.

When/if it does fall below key S3 (pivot points) support area around $26 - then a fall out of the wedge is possible taking it to $20 which I can also see in the CS chart.

Regarding the strong support for Silver - I see more of holding the line and trying to grip $30. Perhaps even worse not to let go and fall off the cliff.


I also did have a look at Palladium and it is an interesting material. I think use in fuel cells coupled with our desire for more and more energy is an interesting play. Some books have just started writing about it as the next new thang after wind / solar power.

 

[YouAreNotFree]

Smartest analysis I have seen on Bloomberg. He sees the whole picture, even referencing the 'Doomers' and pm 'gurus' that have sold retail Silver investors (most of whom entered 2011 on) a Lemon.

Gold Prices Flat for Next Three Years: Christian: Video - Bloomberg

 

[Benj1981]

Smartest analysis I have seen on Bloomberg. He sees the whole picture, even referencing the 'Doomers' and pm 'gurus' that have sold retail Silver investors (most of whom entered 2011 on) a Lemon.

Gold Prices Flat for Next Three Years: Christian: Video - Bloomberg

Lol, i think he might be trying to get filled. Also, i'd be very interested to hear who he thinks the Fed will be able to sell their treasuries to when they supposedly unwind (impossible by the way without collapsing the system), because they already buy over 80% of them! What is that going to do to the price i wonder....

 

[YouAreNotFree]

Bullionvault goes essentially bidless at the bottom of Silver's multi year trading range, *rolls eyes in a huge way*.

The only ones there are the arbers, .75% below spot price.

If ever you needed evidence that retail like to buy high and sell low, there you have it.

 

[brewski1984]

I reckon we could be busting a load of stops out below 26.00 this time round.

 

[YouAreNotFree]

Lmao. I'm seeing some funny sh*t, I really am.

Here's some advice from Lance-corporal Jack Jones, Silver investors, as you appear to need it right now.....

 

[Atilla]

Lmao. I'm seeing some funny sh*t, I really am.

Here's some advice from Lance-corporal Jack Jones, Silver investors, as you appear to need it right now.....

View attachment 159506

Can you expand a little more in layman terms please

I find my self sitting with the bulls right now???

 

[YouAreNotFree]

Can you expand a little more in layman terms please

I find my self sitting with the bulls right now???

I'm bemused how their can be such insatiable appetite to buy at the top of the multi year range and yet when we reach the bottom, such an insatiable appetite to dump ( when into the 27's the urgency to dump increased with the closer proximity to the very low of the range lol.) Bullionvault is bidless (arbers don't count obv) and is consistently offered at a discount to spot.

I don't care if we go to $25 tomorrow, that will not validate what has been happening in the slightest. It's upside down logic, emotional and irrational behaviour. Seems like every retail investor blew their load chasing and there's nothing left to buy when something is on sale.

 

[YouAreNotFree]

I'm bemused how their can be such insatiable appetite to buy at the top of the multi year range and yet when we reach the bottom, such an insatiable appetite to dump

Why Silver Is A Buy Now - YouTube

Peter Schiff, one of the darlings of the movement.

Listen to the first 5 secs for the date on which he released this video. I kid you not it was the very day Silver peaked in the 2nd half of last year. I said shortly afterwards in the comments section something along the lines of 'congrats, you just called this at a swing high'

It's true he says buy Silver at whatever the price, but he actually went so far as to produce a video on this occasion

 

[Atilla]

I'm bemused how their can be such insatiable appetite to buy at the top of the multi year range and yet when we reach the bottom, such an insatiable appetite to dump ( when into the 27's the urgency to dump increased with the closer proximity to the very low of the range lol.) Bullionvault is bidless (arbers don't count obv) and is consistently offered at a discount to spot.

I don't care if we go to $25 tomorrow, that will not validate what has been happening in the slightest. It's upside down logic, emotional and irrational behaviour. Seems like every retail investor blew their load chasing and there's nothing left to buy when something is on sale.

I think support will kick in around this 26/27 area for silver. We need some level of bounce. I can't see it falling to 20 just yet. My target is now 28/29 regions and possibly 30.

For BoJ to announce they have an inflation target of 2% is a bit of a major turn after years of deflation. Highly significant imo.