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 Replies: 5,643 / Views: 459,740 |
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Pillar of the Community
 United States
3789 Posts |
Its interesting still a divergence between gold and silver.
Keep an eye on 1046.80, thats your yearly low on gold. Silver's yearly low is 13.62
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Pillar of the Community
United States
1026 Posts |
It seems like gold is now testing the upper boundary (around $1135) of a channel going all the way back to mid-2013:  If it doesn't stay on top of this channel we will likely see another swing down to the bottom of this channel before too long... |
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Pillar of the Community
United States
1431 Posts |
SO, silver is toast then?
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Pillar of the Community
United States
3789 Posts |
I know everyone is confident gold is done (just take a look at financial headlines), others are worried or in panic.
Until we hit those yearly lows on both gold and silver, despite the break down in levels in price, I wouldnt be ready to call an end to the up trend that still is, yes,barely hanging on.
For now, consider any move higher a bounce and thats it. What you are looking for, if you want higher prices and a stop to this drop, is for a base to build and or another re-test of the current lows and then bounce higher, all of which are going to take time.
Edited by yup7676
12/16/2016 11:33 am
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Pillar of the Community
United States
1804 Posts |
We just had an interest rate increase
With the FED saying it might increase the rate 3 times next year
While interest rates are in the cellar, rising rates are not (general) good for positive PM prices
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Pillar of the Community
United States
1205 Posts |
4/7 rate hikes gold went UP..the other 3 times, inflation was much different. Last year, "they" said 4 hikes...so, what they "say", and, what really happens is just future=-tripping. The drumbeat of proven manipulation beats harder and harder...prices MAY stabilize, as methods to continue diminish, but, smart hackers can do a lot of damage. http://www.tfmetalsreport.com/blog/...ntinues-2016 |
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Pillar of the Community
United States
3789 Posts |
@Domain555
I personally, as you know, not a fundies trader, first and foremost is price, price action.
But I agree with what you just said "saying", is what strikes a chord with me, The Fed is saying this and it is possible they do or have intent. Whether they do or not, who knows.
The market looks into the future, usually already its pricing in things 3-6 months in advance. As a nugget, if rising interest rates are a theme going forward, from a price action stand point, Utes still look decent, in fact some are still making 52 highs. Conventional wisdom says rising interest rates impact negatively Utes as well...
now, all of this is neither here nor there as again, I just trade price. But its interesting to still see Utes doing pretty good, price wise, with an interest rate hike and the possibility of more being on the table
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Valued Member
United States
160 Posts |
I think its foolishness by the FED to make comments about "three more interest rate hikes in 2017", when they have a hard enough time deciding on whether to have one hike, like they did all of 2016.
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Pillar of the Community
United States
606 Posts |
Hoping for another drop in silver so I can start buying physical. I laugh at the so-called "experts" that only like to buy physical silver during an uptrend. What a waste of money.
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Pillar of the Community
United States
7390 Posts |
@jmgi, the hemming and hawing and not raising rates until after the election in 2016 was purely political.
Edited by Cascade
12/19/2016 3:11 pm
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Pillar of the Community
United States
3789 Posts |
Yet another week where its time to see if the current area in price can hold
As usual, on a shorter time frame, the levels to watch and see if hold are-
Silver- 15.96
Gold- 1124.30
if you are looking for slow grind to slow down, one should be first looking for some sort of range to hold. Thus far we havent seen that which brings me to another set of numbers-
gold- 1050
silver - 13.66
These are the yearly lows, once we break these, gold and silver revert back to their down trends.
While its interesting that the metals are not doing great, miners continue to hold and are positive still, year to date. Whether this decouples in time, only time will tell.
Remember tho, gold and silver are just one tiny part of financial markets, money is flowing a ton of different places.
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Pillar of the Community
United States
3789 Posts |
....and now that folks been rattled, confidence shaken and most are sure, 100%, that right now the PMs are toast and the end is near and now... its amazing to see peoples behavior, always remains the same, never changes LOL
ahhhhh how refreshing it is the same cycles play out over and over lol, I love it!
Gold- first trading week, still early, but trying to hold a range. Another re-test or attempt at the lows of this week would be nice to see and hold. Keep an eye this week closely at the weeks low of 1124.30
Silver- Fell hard this AM, spent all day working to close near the HOD.
A lot of selling and selling pressure present but first clue this week of a possible first range, or base, that is trying to hold. Now gold and silver need to show follow through in the coming days.
PRice first, sentiment second.
Edited by yup7676
12/20/2016 4:16 pm
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Pillar of the Community
United States
3789 Posts |
As we all leave for the holidays or already have left, one last look at gold and silver-
Both fighting for their life to hold this range they are currently.
Its easy to dismiss the uptrend that has been here and other commodities when one is inexperienced and feels bitter and sore over losses. Markets are never easy and your best guide through all the ups and downs is price action.
As prices move lower, the roar is everywhere, everyone is sure that the move in January was false and that lower prices are ahead. The behavior and Sentiment has taken over, that makes one think that those laughing are about to fooled.
I will see you all in 2017!Remember, use price as your ultimate guide.
ps- not a yearly low nor downtrend started until those yearly lows are hit and confirmed by price...
Edited by yup7676
12/22/2016 3:30 pm
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Pillar of the Community
United States
3789 Posts |
a post from vacation-
snicker and laugh all you want LOL.
Those who bought the yearly highs in miners when the move started in 2016, your YTD returns are 42% , especially if you bought the gold ETFs, such as GDX and otherds
Buy yearly highs, sell yearly lows. Until you those of you who are clueless of believing in price action and cannot grasp price action, you will always miss the big moves.
Those of who believe in price action and buying the early action, as it confirms, by pricec, will always be banking coin. If you bought the best gold and silver miners when they started breaking up through up trends and their first yearly highs in 2016, you will still BE UP in 2016, despite gold and silver falling. Anyone who says buying yearly highs as they start is wrong, well just ignore them, they know nothing.
UNTIL yearly lows are hit and broken, miners remain in uptrends as well PMs. LOVE seeing all the clueless and negative sentiment everywhere I go!!
Stay safe and see you in 2017!
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Valued Member
United States
154 Posts |
It's nice to see the miners gapping up. About time.
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Replies: 5,643 / Views: 459,740 |
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Posted 12/15/2016 3:02 pm
