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 Replies: 5,649 / Views: 461,171 |
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Pillar of the Community
 United States
3789 Posts |
Correlations only go for so long. IN the case of the PMs tho, they really have no attachment to oil.
The only thing that bothers me, is that we slip into yet AGAIN a range bound market in the equity markets that is. That would stink lol In a range bound market, no real money can be made.
that said, the markets issue are not low oil prices. the markets are clearly in a downtrend and the ride down is going to be very volatile and bumpy, with a lot of counter trend moves that make it seem like its going higher.
... and yes if what I am saying sounds familiar, it should be, it is exactly what we have seen in the gold and silver markets for 3 plus years now.
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Pillar of the Community
United States
3789 Posts |
still early but gold trying to hold that b/o from yesterday....see how it goes...
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Pillar of the Community
United States
7390 Posts |
Yup, how long do gains have to persist for you to say we're beginning an uptrend? Is it a few weeks or months of small gains or a week of huge gains or what?
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Pillar of the Community
United States
5856 Posts |
My guess would be when the people who buy shorts loses their pants, that's when PM will be in a uptrend. LOL!
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Pillar of the Community
United States
3349 Posts |
Fed non-announcement on interest rates and gold is up $10. $1124 is higher than it's been since November. But given a 1 year range of $1050 to $1300 today's price is well within the normal fluctuation. Better to wait and short when it gets above 1200. For silver over the last year, $16 looks like a good price to short.
"Two minutes ago I would have sold my chances for a tired dime." Fred Astaire
Edited by thq
01/27/2016 5:31 pm
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Pillar of the Community
United States
3789 Posts |
Well looks like we got a little bit of follow through today, gold making a higher high over yesterdays move on a shorter time frame.
@cascade
it all depends on the rate of buying versus the selling pressure. How this happens, it all depends. I have seen downtrends broken in a short period of time over course of weeks as buyers show up and buy endlessly and I have seen it happen over months. So again it just depends. When this happens too, whenever the selling does happen, it is always shallow and doesn't persist,, another clue of who's in control.
Right now with gold and silver they need a LOT of buying and time. Sometimes these moves start with baby steps. Sometimes they start with rapid buying and never look back. We dont know how the down trend will be trumped so we need to observe any attempts to break out higher and respect them but also remember that there is a probability that they fail.
However, this is like watching a cartoonist or someone drawing something. Perhaps they start out and midstream they erase everything. Perhaps they keep drawing and adding and then once again take that eraser but this time what they erase isn't everything... in this same manner we need to see what develops each time and allow time to work things out.
One big clue that this downtrend is over with is when we stop going back to testing the yearly lows over and over, something silver and gold have been doing repeatedly. We need to move far and away from the yearly lows and we really havent done that yet.
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Pillar of the Community
United States
7390 Posts |
Here we go aging with the Flubber yup
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Pillar of the Community
United States
3789 Posts |
just a morning update-
take a look at gold, it did manage to go over 1/27 high of day, which was 1128, today the high so far as of this writing has been 1129.
Silver is playing the role of laggard for now. It remains in a range even with today. It would be interesting to see if it goes over 14.59 this week.
gold looks better from a technical stand point, silver TBD, tho its base its making could make for an explosive move depending on which direction it takes from the base or range, that it has created.
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Pillar of the Community
United States
3546 Posts |
I am on board with the Iran curveball theorem deciding to let it pass and wait for the call.
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Pillar of the Community
United States
7390 Posts |
Well yup its at 14.69 currently. Let's hope today is a good sign. Hopefully the Flubber is fading and we see a big spike soon
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Pillar of the Community
United States
3789 Posts |
Gold looks best here,,, breaking higher and already above yesterdays HOD. so in a shorter time frame it clearly is moving out and higher, continued series of higher highs and higher lows.
Silver making progress tho it seems it needs to put in more work. It is however, over yesterdays HOD and cleared, in a shorter time frame, 14.59.
SO in shorter time frames we have a sort of break out going higher. Could this end up moving to a bigger move? Sure it is possible always is. But always remember that there is always the real possibility that once again the move fizzles out.
Therefore we approach this move as- follow what happens right now, keep an open mind but not be surprised if it dies out. Time will tell what happens in the coming days and weeks.
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Pillar of the Community
United States
3789 Posts |
I should add, still early.. but gold miners also have been setting up technically along with gold.
Again, more time is needed and would be good. At least things are starting to looking interesting at this point.
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Pillar of the Community
United States
7390 Posts |
Well, it's another strong opening for pm's. Fingers crossed, let's hope the trend continues!  |
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Pillar of the Community
United States
964 Posts |
Nice! Hope it continues to go straight up!
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Valued Member
Canada
343 Posts |
I'm hoping for more upward movement as well - but it's Thursday and can't help feeling that prices will get smacked down again before the weekend. We've been in this downtrend for a while now and we forget that not too long ago silver over $22 was normal for a good time.
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Replies: 5,649 / Views: 461,171 |
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Posted 01/27/2016 2:43 pm
