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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
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
The US said it will take a 10% stake in Canadian minerals explorer Trilogy Metals as part of a $35.6 million investment to secure critical energy and mining projects in Alaska.
If we stay on this current path I don’t think I should worry about a pause or higher high correction once it passes resistance less than a dollar away now until the 70s in the US. Andy on the video measured the cup and handle at about 98 rounded. In a bull it could double. But if it remains in a bull and the way things are right now in fundamentals and safe havens from lunacy it is, will it be a straight line?
Way it’s going now it should leave 50 in the dust and should become the new support.
6000 wow, but his do you figure that’s stronger? Best scenario if the currency is stable while it’s moving up anyways. I personally think the leftist want to crash both economy and currency to push their digital dollars and ID.
Where did everyone go? Did they pass out from the ride?
Personally I didn’t want to watch this morning so I waited behind buygold and Maddog to post.
Doesn’t have to be. It can try to fill the gap then continue to move up in a bull market or it can keep going. Only worry if they fill a gap or scare tactic since they like to shake the tree
🇺🇸Steve2A🇺🇸God🇺🇸Family🇺🇸Country🇺🇸
@lakemonstercl1
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Oct 4
Just when I think I’ve heard it all, tomorrow brings a new WTF.
Agreed re MSM and the Financial news…..not a word …..the little that there was has disappeared …..
As to the general public…..near zilch….the Blackrock Gold and General Fund is the main UK Gold/PM fund…it’s assets are still under £ 2 billion…I can remember they were over £ 1 Billion years ago…..so not much new money has gone in…yet.
Silver is running out and moving from LBMA to Crimex where delivery is being taken? Would explain why we’re up in every overnight session.
Regardless, here we are on another Monday am seeing our metals up another 1+%, and silver is leading the charge and headed toward $49. Gold wipes out $3900. We’re doing all this with the dollar up some and the 10 yr. up 3 bips. Oil staving off $60 is up $.80, Bitcoin up $400. SM up.
Shares start trading in a half hour here.
I haven’t watched CNBS or any financial TV in a long time, but it sounds like the pm run has gone unreported? Seems that would confirm that it’s the big money players doing the buying. If so, how high do we go and when it stops do we crash? The guy in Goldie’s video says $90-100 silver. He also said gold was up 4 x’s the S & P in the last 6 months – and no one is talking about it. Maybe they’ll take us to $10K and then re-value?
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