What Happens To Gold And Silver Next? Look Out Below?

I dont need to use any links lol, thats your job but of course, you wish to ignore the fraud that Eric is lol

Like I said, you are free to believe in what you want. I only believe in price action, scare articles by frauds are for the unknowing.

yup, silver goes up and you stop commenting?

rgathright comments


The reason all the winners finally stop helping others, is because people that aren't happy with the success of others, keep making rude comments about them, so they finally get fed up hearing negative comments about themselves(even though untrue) and stop sharing their knowledge......I feel that yup7676 is likely getting close to that point, so I for one, and likely many others that would appreciate it if you'd please keep your degrading comments for someone else.

Ok lets look at silver-

When I did my last update, it appeared that silver was ready to tank and go much lower after breaking its consolidation to the downside. However, after a few days, instead of seeing follow through to the downside, we saw the price reverse and build on a series of days of buying. Interestingly enough, silver and gold also managed to hold on to their gains from the ECB date also.

Since then, silver has been on a tear, with a major move on 6/19 and has essentially broken out to the upside. Lets take a look at exactly at how price has broken out on a short time frame with our first chart.





Ok lets look at few things here-

1- the yellow arrow shows us where the sellers lost the resolve on 5/30 and the price would not go lower. the low that day was 18.61, so clearly the market participants for whatever reason feel that area is of importance. From there, silver never looked back. Even the ECB spike held.


Notice the range we had, illustrated by the upper and lower aqua blue lines. On our last update, I remarked whether silver could continue to climb or stall at that point. Well, lets look at it again, take a look at the white arrow and what do we see? More continued buying, taking it past that area, and breaking out of the range it was in.

Once it broke the range, what really pushed silver up was the one day action on 6/19, that essentially helped silver break out to the upside. With the bounce at the very bottom, breaking the range it was in and the move on 6/19 that is very strong price action and steady buying. Whether it is short covering or straight up buying, who knows and who cares, clearly price is saying silver is moving up.

At this point, silver needs a breather. So the questions arise: will this be yet another fake counter trend move? Will silver give up all its gains? For a long time we have see some very vicious counter trend moves that ended up sputtering out. There is plenty of overhead resistance in terms of supply, and I reference the supply as price. I am not talking actual physical silver. Remember, price has memory. There are areas where buyers will consistently emerge and where sellers will consistently show up.

Lets look at whats ahead of silver in terms of price on a longer time frame.





What do we see longer term? Big messy price action for sure. Ahead of silver are many areas of resistance. It will have to work itself through these areas and will probably be knocked down, all of which is normal, some these areas on this chart are indicated by the red arrows.


So we have seen what appears yet another attempt by silver to not go lower. That has been followed by days and days of buying with no real selling occurring. Silver has even broken out.

The question then is- what do we look for in order to not be faked out? If we are looking for higher prices, what is constructive?

Let me first say that again, time is needed. Only by time will we have concrete evidence that these moves are going to hold. The next thing is silver needs to slow down here. It would be ideal to see it slow down and just trade in a range for a long time, allowing it to digest its gains. The longer it does that, the better. THEN after doing that, break out to the upside, holding its gains. This would allow silver hold its gains and take out the volatility we often see.

IF this sort of pattern continues, we will see silver break its downtrend. Key to all of this was the price action on 6/19 which really catapulted silver.

-edit- sorry posted the same chart twice. Notice the second chart has been correctly changed to show a one year look. Gold charts and discussion of price action to follow in a bit or later in the day. Sorry for the delay.

That chart is interesting. I used to do pattern analysis as part of my profession. To me it looks like we are seeing just another step in a downtrend. It looks like a continual movement from the high point a few years ago. I goes lower, moves higher, then lower, then, not quite so high, but higher again,and so on...grinding lower. This looks like the same pattern that we saw after 1980. Only by looking at the long view can we see this. The short view always plays to what is currently in play.

I have been talking to a lot of people whose businesses were built on the premise that PMs will always go up, and they are almost.........scary in their belief that the PMs will go up....up...up. What is also interesting is that most of them think the Earth is running out of Silver and Gold. I have no idea where that idea came from.

The earth is no more running out of it than of oil or of water.
But the cost of finding it and bringing it to market grows higher.
The earth has plenty of water but not so much clean fresh use able water.

the whole point is that the dollar is ALREADY BEING DESTROYED, purposely and systematically.