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Moderator
 United States
193640 Posts |
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Well look at that, Silver closed the regular session at $68.82 so there might actually be something to this zone that Silver likes.  Quote:
If nothing else happens tonight and Silver opens in this range tomorrow then I suspect it will be settling in to the upper $60's for a while.  Quote:
I could see Silver chopping in the range between $66 low to $70 high until then.  |
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Pillar of the Community
 United States
5947 Posts |
Oof! Looks like the night crew dropped the ball last night and let silver slip back into the ~$67 range.
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Pillar of the Community
United States
1257 Posts |
Yeah the night crew was a bit violent or "volatile" as we say. I saw them take it within 1.5 cents shy of $70. Silver hit $69.985 around 10pm  Then they literally slammed it back down to exactly $67.50  It's been fluctuating around $68 since then. Sometimes you can get a read of what the day's price range is going to be just by looking at the overnight 'High' and the overnight Low. One or both will likely be revisited today, question is which one. Edited by Harry213
Yesterday 07:54 am
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Moderator
United States
193640 Posts |
The night crew had one job.  |
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Pillar of the Community
United States
1257 Posts |
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Sometimes you can get a read of what the day's price range is going to be just by looking at the overnight 'High' and the overnight Low.
One or both will likely be revisited today, question is which one. Looks like they chose $67.50  Looking at what the average daily move has been we're looking at a $2 range so $66.50 to $68.50 is where my money is for today. Edited by Harry213
Yesterday 09:30 am
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Moderator
United States
193640 Posts |
I like that better than $56.50 to $58.50.  |
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Pillar of the Community
United States
665 Posts |
Indeed jbuck.
Given the collapse of trade negotiates with Canada and now a "trade war," the continuing war with Iran, stubborn inflation, upcoming elections, etc. there is a lot of instability and uncertainty. My sense is that we will see an upward slope for the most part for the remainder of the year.
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Moderator
United States
193640 Posts |
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My sense is that we will see an upward slope for the most part for the remainder of the year. |
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Pillar of the Community
United States
1257 Posts |
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I like that better than $56.50 to $58.50. No need to worry about that. You have a better shot at seeing Silver at $71 this week than of seeing Silver at $56.50 in the next 30 day's. Thanks to the geopolitical and economic hot mess we're in. Have you ever tried pulling a balloon or an empty milk jug under water, and every time you let it go it shoots up to the surface? That's kind of what Silver is doing today. It's back in the $68.80 zone after opening at around $67.40 Remember back in June when Silver fell below it's 200 day moving average (that's bearishly bad) and everyone said well that's it, Silver is done going up? Well that was true then. Fun fact- Gold broke above it's 200 day moving average a few day's ago. That's extremely bullish for Gold. Silver is just a few dollars away from it's 200 day MA currently around $72. It won't take much. |
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Moderator
United States
193640 Posts |
Quote:
You have a better shot at seeing Silver at $71 this week than of seeing Silver at $56.50 in the next 30 day's.  Quote:
Thanks to the geopolitical and economic hot mess we're in.  Quote:
Silver is just a few dollars away from it's 200 day MA currently around $72. It won't take much. |
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Moderator
United States
193640 Posts |
Still in the ~$68 zone. Night crew, do not mess this up. |
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Pillar of the Community
United States
1257 Posts |
Day 4 of Silver's Up a little, Down a little, and back to $68.xx I'm noting this sideways chopping pattern isn't just in Silver this week but it can also be seen in all the major indexes and even the Dollar. Gold has entered this phase now too. The Market is on standby, waiting for the next shoe to drop as well as trying to sniff out any little clues it could find on what the Fed, The Treasury, the Dollar, inflation, and interest rates might do next. And wether it will set off the fireworks or the fire hose in the markets. There are 2 event's this week that could move the markets, the not so important one is NVIDIA earnings announcement tonight. The one to watch is the Feds yearly Jackson Hole get together on Thursday. The markets will be watching listening to every single word that comes out of Warsh's mouth. He won't give any forward guidance but just like the old commercial "When EF Hutton talks everybody listens"... yeah, they'll even be watching his body language and maneurisms for clues on wether or not he'll raise rates in September. Look out if the markets get spooked by anything he says or does. |
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Moderator
United States
193640 Posts |
Ready and waiting. |
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Moderator
United States
193640 Posts |
Well, everything ended up being down today. I wonder what the night crew will do with that.  |
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Replies: 3,134 / Views: 104,542 |
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Posted Yesterday 07:06 am
