Silver and gold both had pullbacks on Friday, but what's ahead?
I expect large moves in the future maybe as early as next week. First i will post some charts and explain some indicators and show why I expect large moves, but not just in Gold and Silver but all the precious metals (and metals in general). GLD$SPDR Gold ETF (GLD.US)$(ETF that tracks gold futures$Gold Futures(APR5) (GCmain.US)$$E-micro Gold Futures(APR5) (MGCmain.US)$) Not the best instrument into gold, although it will follow the traded price. I only show the chart because it is the traded gold price.
That is a pennant/bull flag. Action tends to happen at the tip of triangles (either breakout or breakdown)
This is zoomed in on the same timeline. Gold is sitting right at the breakout/breakdown point, on an indecisive candle (MMs never make it easy to judge direction). Why do I believe it willbreakoutand not down? Experience, haha... Expand the timeline to see what kind of trend we are in.
The orange arrow is the current triangle point from the daily charts. The yellow arrow is the previous triangle point. *those arrows will be the same points in the following charts*
Just look at that 10 year cup and handle!!! Something will cause gold to go parabolic
Going out to the quarterly you can see the purple channel line that was in previous charts. The new cyan channel line is the parabolic trendline. Also highlighted in green are current price and price axis. *Red arrows are when the Dragon awoke*
The quarterly chart again zoomed in. Highlighted is trying to show the comparison of MACD gap compared to price increase, then correlated to a future target zone. Silver$iShares Silver Trust (SLV.US)$again an ETF that tracks futures price.$Micro Silver Futures(MAY5) (SILmain.US)$Not my favorite for exposure to silver *Although l do hold options on it.*
Remember MMs never make it easy? No signal for RSI or MACD On the daily, watch and monitor to see if silver bounces up off of yellow channel lines or drops to the corner of the cyan triangle before breaking out. Again zoom out to confirm trend
On the weekly the bull flag can be seen, with RSI and MACD trending up.
The monthly showing the bull flag. As mentioned the above are ETFs that track futures price, but they are not backed by physical ownership of the metal. (They do have a silver holding but no one knows how much is in it, it has been declining for 12 straight months. The number of futures lined up against their depleting stores are mounting and are the largest ever for gold and 2 year high for silver and growing. Below is CME futures contracts for delivery, notice how they are growing and not declining)
iamiam
OPBE EATING PEACHES
:
not a chance, Twitter's run will burn out, I would buy silver/gold 1000x over before worthless empty twitter that is still 18x overvalued
iamiam OP user77248281 : I did several on the energy and producers sectors, but you want one on just CL (crude light)?
iamiam OP user77248281 : done, sorry it took so long
BE EATING PEACHES : buy Twitter it's moving buy 10$ buy stock and options
iamiam OP BE EATING PEACHES : not a chance, Twitter's run will burn out, I would buy silver/gold 1000x over before worthless empty twitter that is still 18x overvalued