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 Replies: 12 / Views: 2,444 |
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Pillar of the Community
United States
586 Posts |
 Courtesy of SilverSale from silverstackers forum
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Pillar of the Community
 United States
586 Posts |
As we already know, wave 5 has begun.
Apparently wave 5 down has begun for silver. Even a truncated wave 5 from Elliott theory will need silver to test previous low, which was about US$14. If we assume wave 5 is equal to wave 1 percentage wise, silver might hit US$13 or less. Oh, by the way, gold will see US$800 or below; go figure.
The mentioned scenario might happen as early as 2017.
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Pillar of the Community
United States
586 Posts |
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Pillar of the Community
United States
4870 Posts |
I think I'm done buying bullion. I'd rather buy coins I need with that money. Though if silver drops significantly then I may reconsider.
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Pillar of the Community
United States
4883 Posts |
This is actually a tough call. The chart's been bearish for about five years now, but if that future point 5 turns out not to be substantially lower than point 3, then from a technical standpoint silver as a commodity ought to be poised for a run up.
Colligo ergo sum
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Pillar of the Community
United States
586 Posts |
@Lucky Cuss,
What you're talking about, is the truncated wave 5 case. i.e. silver revisits previous low from wave 3, then we're going up from there.
A normal wave 5 might even challenge $10 mark.
Either way, it is not wise to buy silver right now; you should at least wait for $14 or less.
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Valued Member
United States
493 Posts |
Physical Bullion sales after going wild, actually started falling back in 2016, I think they will remain strong for years to come, mostly because of QE/easy money/loose monetary policy, this should keep a floor under prices, as will the ETF demand, why that hasn't fallen apart yet is beyond me -- as will strong hands holding piles, tough times will come again (they always do), and with the small investors loaded up, the LCS will be overflowing when recession comes. It's anybody's call how low silver will go next time, and with recessions now worldwide, wheres the demand going to come from when the time comes and people need $ to eat/pay bills. The last recession saw the deepest job losses we've seen in recessions, we are again building up to that kind of event as even Amazon made it's first drone delivery, even the pizza delivery guys days are numbered as we slowly go faster towards cashless and driverless. Edited by everything
12/21/2016 4:58 pm
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Pillar of the Community
United States
4333 Posts |
Considering what's happened in the past, $14 silver will be no cheaper than $16 silver due to rise in premium.
When I listen to LED ZEPPELIN...so do my neighbors...
Roll hunting since '77
Dirt fishing since '72
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Pillar of the Community
United States
2130 Posts |
Good point fistfulladirt. Very true.
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Pillar of the Community
United States
1450 Posts |
Look at price of silver in 2003. Why won't it test that low? I hope it does because I might buy some. I hope that gold tests its lows because then gold coins will be a heck of a lot cheaper. Guessing on the PM markets is just like being in a floating crap game. It is a good way to make a large pile of money into a small pile.
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Pillar of the Community
United States
4883 Posts |
Quote:
Considering what's happened in the past, $14 silver will be no cheaper than $16 silver due to rise in premium. I've seen that happen, and in fact I've seen with some dealers stock pulled back until the price recovered or there was no chice but to resume sales. But I've come to patronize only those sources who don't play such games, and so from my standpoint I'd continue to be a nonresentful buyer at more or less my current rate of accumulation, provided the shelves aren't bare. Colligo ergo sum
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Pillar of the Community
United States
586 Posts |
For the immediate short-term trend, Gold-to-Silver-Ratio has a high of 73 and low of 68.
If silver tries to retest $14, gold will be between $952 and $1022, based on the above ratio.
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Pillar of the Community
United States
586 Posts |
Although Silver stands above $16, price movement has been very SHAKY. It appears that there is a force keeps whacking down Silver spot; so far the resistance is about $16.25.
According to last weekly futures report, Swap dealers/Banksters are sitting on mountains of short positions in Silver contracts.
NO WONDER.
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Replies: 12 / Views: 2,444 |
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Posted 12/21/2016 09:30 am
