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Preciousmetals

History of the past is repeating now in the silver market.Look for screenshots in the comments. Silver crashed in the early 70s to a low of $1.2, silver crashed to a low of $12 in march, what we do is apply the price action of the 70s to current market and the similarities are striking. Have a look at the charts in the comments and prove it to yourself. Thats why I think we we will see a rise of silver to $60. Then it will start to consolidate inside of a weekly down cycle and the $40 level should be the extreme low support. Then closer to the top of the super cycle (check the related idea) silver will blast to triple digit prices. This is just an observation and hardly can it be applied to practical speculation, only to purchase nominal metal - without leverage. It is just interesting to see how chart pattern repeat many years apart.
FX_IDC:XAGUSDLong
by CSInvestment
Silver 60 year super cycle bottomed in March. A 60 year cycle developed in the 1920s by the famous economist is observed on the silver chart, you can take a closer look by dragging the graph. The first cycle measures 60 years since there was little trading and large time gaps were made in fixing the price. Since the 70s when the market became active this cycle spins out 30 years - a proportion (1/2) of the 60 year cycle. We also see a cup and handle pattern on a huge year range. Very bullish. Upper side price target in 2028 found by my system is 152$ per ounce of silver.
FX_IDC:XAGUSDLong
by CSInvestment
10
BEAR Case for GOLDThe chart clearly shows a breakout on the down side. This is follow up to my last post. Here are my 5 reasons 1. Interest rates: Interest rates are historically low and are unlikely to go down any further. Long term yields are itching higher already. Interest rates are not going to help gold anymore. 2. Inflation: Inflation is likely to be itching higher with so much stimulus. If that happens, federal reserve may decide to push interest rates higher which would pull dollar value higher too. If dollar goes higher, then gold prices will have to move lower. 3. Stock Market: Capital markets are doing great. Investors do not really seem to worry about the stock markets going kaput. Thus, little reason for the money to flow into gold. 4. Cryptocurrency: The crypto rally might be eating into gold investments as the 20 something are not so keen to invest into gold as much as they are about cryptocurrencies. With bitcoin rallying, gold may lose its sheen. 5. Other metals: Other metals have been giving gold a run for its money. With economy coming back, gold may not be remain the most favored material in 2021. How would you play the bear case? Do you agree with my analysis?
OANDA:XAUUSDShort
by shauryathevast
Gold snooked many... Previously mentioned that Gold was in a downtrend... and despite a December rally that started a lot of Gold-to-the-sky talk, I had doubts and hence, no update post as I was patiently observing. Friday proved my suspicion correct as Gold dropped well below the 1900 level after breaking above 1950 for a day. The Friday Gold drop wiped out the month of December's gains in a day. Big hint here. Nonetheless, one of the major reasons for being suspicious about the rally was that the Top 8 traders were obviously selling Gold, not buying. The bottom most panel (yellow line indicator chart) is the Top 8 Net positions. From May to June 2020, the Top 8 traders were accumulating already. And when the non-commercials started joining in the accumulation party, Gold prices took off. December 2020, the Gold rally was supported by retail and clearly, non-commercials (until Christmas). However, it is clearly observable that the Top 8 Traders were distributing instead. Over and above that, technicals show that Gold has a trend change, and needed to consolidate first. MACD was in bearish territory, and price just bounced off 1800 support and channel support despite that there was a large harami type candlestick pattern indicating a couple weeks of Gold rally in December. Well, that has ended... promptly. This week, we saw a break out of channel resistance, and then failure of that break out. Bad news... this typically suggest a breakout on the other side to follow. This can be targeted to be around Feb, at about 1650, if it were to plummet over the next few weeks. Probable at this point as the massive bearish engulfing (after channel breakout failure) is strongly suggesting... I expect to see some small bounce, followed by more of a dive in Gold over the next two to three weeks. Breaking down and out of the channel support represents good opportunities to look for a trend change (back to bull trend). Oh wait... there is a BRB system buy signal, which I intend to discretionarily ignore for now. Perhaps take into consideration IF there is a bounce off the 55EMA in about two weeks. Anyways... Do see my following post about the USD (and the GDX too). It spiked, and contributed to Gold dropping fast on Friday.
COMEX:GC1!
by Auguraltrader
Is Silver Breaking Down?In my opinion, we are experiencing one final shakeout of silver holders before the next big leg up. I'm still looking at this as a great place to add to my position and for new buyers to establish initial positions. Notice we are right at support (~$25.65) and I don't expect us to close below this level today. However, if we do close below, then all bets are off! Everything shared here is only my opinion and no results are guaranteed. Good luck! TVC:SILVER
TVC:SILVERLong
by jstrasburger
Swing Trade: Barrick Gold Corp.(GOLD) breakout setup 📈Hi fellows, just one of my today swingtrades: Nice setup for breakout . ------------------------Trade setup --------------------------- Entry: 24,80 Stop Loss: 23,83 Profit target: 27.73 Time stop: 5 days ------------------------------------------------------------------ If you like the idea, do not forget to support with a 👍 like and follow. Leave a comment that is helpful or encouraging. Let's master the markets together.
NYSE:GOLDLong
by Tomasgei
4
PAAS Consolidation Wave: Can the Upward Channel be Reclaimed? $PAAS was on fire until mid-October. It has since that point been sideways trading, albeit with a slightly downward channel to the consolidation wave. That is somewhat ominous, but it is equally as difficult to guess if $PAAS can (FULLY) reclaim the momentum it had earlier this calendar year. While this trader has taken on a position on the notion that it does happen, saying how long this might take in terms of a wait, is a total crapshoot. Of course, being wrong with timing is missing the entire boat: So this idea will be revisited as this position is held to keep consistent with the future path of Pan American Silver ($PAAS). The harmonics are both promising us and warning us, at once--and really how this C-Wave breaks is no better than a 50-50 guess. Honestly seems appropriate rather than force the notion that some kind of read on this chart is there, that is not. That said, cup and handles lead to breakouts 65-75 percent of the time, so if this COULD be categorized as that - that is a bullish indicator, of sorts. There is not much of a cup, but there certainly *Is* a handle. Yeah, that just sounds confusing doesn't it? The breakout could be substantial, while the reason this is a decent play is that the risk is already mostly assumed by entering at this nadir. Anything can happen, but there is enough strength in this stock to believe the bottom won't fall out any time real soon. GL if you need it; if not - GO THRIVE ANYWAY! -BDR
PLong
by BDRTrigger33
1