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

I cannot predict the future and charts do not tell us the future. However, what we do know, what we are working with is gold and silver in up trends. So, basing everything solely on price, tells me at one point or another, we will be re-visiting the yearly highs and making new ones. The probabilities are on the side of gold and silver going higher.

The markets dont make it easy, never. Even with trend following, you are going to be subject to some wild crazy moves within the trend. But thats what makes a market. Furthermore, with gold and silver, just think about all the overhead resistance, overhead supply, expressed in PRICE that is above gold and silver.

So while it was HUGE that a 4+ year downtrend was broken, one needs to remember the amount of levels of sellers above here. That requires the element of time to cut through the overhead supply.


Which brings me to a side point, non-related to gold and silver but applies to anything and that is you always want to keep on your radar any stock or asset for that matter, that is trading at yearly highs where there is ZERO resistance. Like gold, roughly the yearly all time highs, historical where what, in the 850s? Notice what happened tho once gold breached that,it had, over time, an incredible run to close to 2,000. Absolutely no resistance, just clear blue skies, and it just climbed. I think silver, should we ever get back to those historical all time highs, will exhibit the same price action.

just have to work with what we have for now and be patient and allow time to do its thing.

@ Zach..those are BS teasers, leading into paying them to tell you public information..WHAT is the mystery death star going to annilate the Dollar late this month? Drum roll please...........cha--chung..........the entry of the Chinese Yuan/Renimbi into the SDR(Special Drawing Basket), after years of negotiations. Oddly, the US did NOT appeal the vote, which was unanimous last fall for entry. So, the Chinese want to become THE go-to currency in the big scheme of things.
===========
"The IMF's decision is a "win-win" for both China and the world and acknowledges China's achievements in economic development and reform, the PBOC said in a statement on its website. The U.S. supported the fund's staff recommendation to add the yuan, the Treasury Department said in an e-mailed statement without elaborating."
So, you can mail $39.99, plus $14.99 shipping to:......haaaa....gotta LOVE the teaser vids...talk about cookie cutter productions....
NOW..get serious...did you know in Early 2017, THE secret government gold holdings will be transported to a safe meteorite in the asteroid belt. "Yes", stated 1 government official, close to the undercover project, "There will be chartered flights from Space-X daily to add to the vault, deep within the asteroid named "Aureo-341133", which, strangely enough, is shaped like a gold bar, yet, is nothing but nickel, iron, and strongtium based. Armed robo-drones will protect the asteroid from possible assaults by incoming pirates, who fly ethanol-powered shuttles with invisible radar. "Not to worry", stated the un-named source..."They'll run out of gas long before they could land and load up any gold bars!!"

Keep it super simple this week, your numbers to watch-

Gold- breaks 1305s, probabilities are high gold breaks lower, breaching 1300s. Going into this week, gold did end the week outside of its range. Keep in mind it has done this before and bounced back but that level can be breached only so many times before it finally gives way.

Silver- Looks worse than gold. Sitting in a secondary range. If it breaks 18.46, probabilities are high silver is going much lower.

Short term time frame, silver and gold are continuing to move lower. However, long term context, they are still in uptrends.

As a side note to the OUNZ ETF YUP posted the link to above, the company BITGOLD.COM, now known as GOLDMONEY offers vaulted Gold, sold in grams, held in 7 vaults around the world...AND accepts payment in Bitcoin(read the fine print, as that transaction is ONLY held in Dubai, and, has some restrictions..the other vaults do not have as tight of rules).
So, while NOT an ETF, you get savings in gold priced in pure spot price, with the opportunity to get a Goldmoney Mastercard, where you can store profits, and, go shopping as if like any other credit card, with redemption fees low at 1% or so...can look it up for you.
I feel safe there, and, the site is very easy to learn, and, has a
"Community' type web page for comments, topics, and questions about Goldmoney, and bullion-related topics.
You can buy gold with a credit card(BE Careful!!), and, it is like buying shoes, and, is NOT a cash transaction, at higher fees from your cc company. Many hedgers are using gold money...you can see how easy it is to either make money, (or, lose money,) and, pay the card off to zero, and if gold UP, put the profits aside, or hold for more PM up. No risk of a funky miner pulling your price down, which can happen in an ETF, if an unlucky week on a large holding, and, say a bad response to a poor quarterly earning. Just Pure spot prices in grams...simple. You can redeem in assorted sizes of gold cubes, and, even silver.
https://www.goldmoney.com/

Silver will go up. It will also, probably, go down again. When will people start selling their silver? For me, I would love for silver to go to fifty dollars again. If it did, I would sell right away. I would never wait for it to go to $100. I believe silver will go low again and then maybe another peak will form again and take it to $100. It won't be anytime soon and I am not going to wait until I am more grey.

As for the talk that silver will go to $1000, I don't see that happening. That news is usually from people who are trying to influence the market. I notice that many of those articles came out when silver was trading at $16.00 or less. I don't think that is a coincidence.

You follow Steven Segals Making Money in the Markets podcast too yup. And here I thought I was the litteral only one lol

I'm more of a fan of the sound financial advice of Jose Canseco's twitter.