Loading ...I figured that out years ago by observing patterns before I realized so did others before me and called it charting lol
I can’t see a live chart of silver but it made a gap up yesterday so would likely try to fill it today. Question is did it fill?
As if Americans don’t have enough distractions …
… now they will be able to bet on just about anything like over the pond …
That should finish off the middle-class right on schedule.
Chuckle
Silver Rider
They’re not cash machines, they’re anti cash machines. Trying to force people to use a cashless system. A coffee shop tried that here but didn’t do enough business as a result so had to accept cash. It wasn’t a accident. The only thing I like about that card machine is it didn’t come with a fee so a good place to get gift cards. Even so they expired.
Morning maddog
Yeah, silver doesn’t look like it wants to come back today and they’ve tried to dump gold with it, but no success. As you say, maybe the long gold/short silver play. Pretty risky IMHO unless they know something that we don’t.
Silver shares don’t appear to be in panic selling mode. A couple I watch are up. HUI only down 5 points.
Should you buy em’ or sell em’?
edit: get the feeling that if the dollar gives up a little bit of its gains, these metals are going to fly. 10 yr. is down a couple bips
Buygold
Can we do $ 4K …the way gold is trading then yes , as so far nothing stops this AU mkt……dunno if Silver is being sold on a Long AU/short Ag spread…or someone is mad enough to short it, as I doubt many of the very few longs want out…..
Cash machines
I wonder if those machines make you show some sort of ID in able to issue a card. If so, just another way of digitizing and tracking your purchases.
Do we have enough juice
to pop up to $4K? Even if silver takes a rest?
goldielocks @ 21:55
I have no problem with those cash machines. That is probably the only way that we will be able to maintain cash. I am considering carrying a cash bill next session.
Break out and back test or start of a longer consolidation @ here…before we break higher….
a few good TA reasons why we may pause in this area…if we don’t then super. super strong.
On the fence
We were down pretty good in silver earlier in the overnights, silver hit $47.72, but now back above $48 and only down $.18. Gold was down $20, but now flat. PM shares are a little weaker, but nothing crazy.
Dollar is up again this am, rates flat, Bitcoin and oil down about 1/2%.
No real eco data.
Thought we might get a pretty good pullback today, and we still might, but right now things seem pretty tame.
goldielocks
Re Saucer bottoms/Cup & Handles
I checked how to measure them and found this explanation….basically they have two methods…if there is a Cup and Handle you can use a similar method to a flag, measure the distance from base to top of handle then swing that up from base area of cup…second is to measure the base of saucer to the Lip and add that to the Lip…..In Silvers case we get a target in the 90’s
All that said….another form of charting Point and Figure ….measures upside targets based off the size of the base, horizontally, which you then project up, once break out occurs ….which considering that the base is where the power comes from…ie lots of time trapped going nowhere and then the mkt breaks out, with explosive power etc…makes far more sense …..Unfortunately because you need every trade price intraday to accurately draw them, no system has that data going back decades, ie into the 60’s/70’s….But if you did then one can imagine the bases pattern in Silver is monstrous…..which is why prices well into the $ 100’s ….even $ 500 make sense
That said this simple P&F chart shows that we are now at huge resistance….can we break the $ 48 box…this time or do we spend some time in this area….first…..or do we fail !!!!…not if this is really about revaluing. the $ 48 box goes
Interesting backwardation lol
Good to see the shorts get a dose of what they’ve been doing to the longs. Since foreign investment buying stocks they’re raising margins on the shorts. Can’t short SLV now. Lol he he ha and H A
About 13:00 or so in.