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

Silver-

range resolved, pushed over the previous high, 16.40. This is yet another text book pattern. You can see these all the time- prices remain in a range for a few days, weeks, months, or years. In this case days, the range was broke up and prices have continue to push higher.

At this rate, yearly highs getting closer and closer for silver. price action is remains constructive. Buyers have been and remain in control.

Note, however, that at some point silver will pull back. Expect it, since we have plenty of overhead resistance. So dont go all crazy buying silver because the price action today makes you feel like you have been left behind.

Gold-

remains range bound, still in a range. Until 1287.80 is broken on the upside, gold remains locked in a range.

Naw..it's cause I got 2--10 Oz Asahi 1st 1,000 made,( JM Bullion) and, a 10 Oz stacker made for ampex years ago by Academy for 180...I don't really know how much physical I own now..roughly 200 pounds ?

Exactly yup. DON'T buy right now guys. The quicker it goes up the more violent the pullback. Wait, be patient, and buy on the big dip that will come probably taking it down to around the $16.30 +/- area is my guess. Wait and dip strike if you haven't already backed up the truck but honestly we all should have been buying both gold and silver for the last couple months. Can't say I didn't see this coming. Thrilled that it's here finally but a run like this will undoubtedly pull back some. Let's just hope it doesn't reverse itself and go back to the $15's

The stock market may do quite well, with rates so low borrow and invest. au/ag may just shine a bit this year after all, but everything is going to, it's an election year, and the oligarchy has to propagandize and buy Hillary's election. Real Estate is topping again, interest rates are at giving money away again, rinse/repeat.

Still, I say give it another year or two, everybody and their brother has a pile of metal sitting around these days, it took me a couple of years just to finally get access to the biggest SDB they had, as they had waiting lists, and yeah now mines full too.

Thanks, I'll keep holding on though again, didn't plan on a 25% increase in such a short timeframe.

Hopefully even better in a year or two, unless you indicate its time to sell.

@MontanaCMR

wow are you serious, I would hate to see what you would say if you knew that its common to pull in 2-40% in a day,few days etc.. lol would you prefer to be 25% in the hole instead of ahead? lol btw I didnt mean that in a mean manner or anything to put you down, just made me laugh, USUALLY people have no issues seeing their money grow fast lol

I personally am glad to hear you and others are up. I love it because it proves the silly naysayers wrong, those who say it is impossible for the public to win at the worlds greatest game, those who say markets are rigged, those who say there is "manipulation", those who say following price action is worthless, those who say following trends isn't important, your gains are PROOF that markets are simple and the game can be won by just simple education regarding price action.

this is the thing of finding trends early and jumping onboard and staying with the momentum. If we are buying, we want to buy assets at yearly highs or breaking important points in price, that are moving upward. On the way down, we want to sell short assets breaking down at important points or assets starting to hit yearly highs. This NEVER changes and what I just said is as old as the hills.

OF COURSE, there are variations to these trends. NOT ALL OF THEM move as swiftly, just as everyone has a different sort of personality, you will find assets have their own sort of "personalities" or characteristics.

For now tho, we follow the trend in the PMs, and PM miners. Eventually this trend will slow down and die. But this is why we want to get in at the START, leg or pyramid on the way up and then STOP adding to the position and let the momentum carry it higher, allowing the profits to run on their own. That will allow for a cushion when the uptrend experiences counter trend moves and rolls back.

Your job now is to be patient, sit back and let the trend play out, watching the price action for signs that its losing its power. At a point, you will need to decide where you cut to cord and walk away with a profit. Keep in mind, no one can grab the entire top of the move, but you can come in close (although once in a while you can pick the exact top but its tough and doesn't happen all the time).

@yup I know you indicated a dip in silver before gaining momentum again, what about the miners? Have some extra $ I can put in this week. Looks to me like it would be ok, not as low as it's been, but not sure if miners are as volatile as the metal. Will the miners have a correction as well where there will be a better point to increase my holdings or do they typically have a gradual steady uptrend and just keep on chugging once started?
thank you,
z

Well, the market answered my question for me. The biotech stock hadn't been doing very well until today, they are the only thing that made money, my miner stocks slipped back some and lost for the day. Looked back on the graphs and noticed when they've had a run, they seem to slip back for a couple days before moving up. So hopefully the biotech stock will go up again tomorrow if the miners loose again and it'll be a wash. Be nice if ALL the stock moved up tomorrow and green across the page. Think I'll wait, watch and get some PAAS instead of more SILJ, although it's been the biggest money maker of the miners.