Goldtent TA Paradise

OK, this one is for silverbugs: silvertadise. Here is my outrageous pitchfork that stamps a bull market on silver that never ended, despite the 70% correction. Just for fun! Silver can go just below $16 again and not negate the pattern. Note the price support action since the December 2015 low has the same slope as all the price support between October 2008 and September 2010 before the bubble phase began:

The median line of this pitchfork has so many hits that it looks pretty good to me. Also the top at $50 then absolutely mandates the position of the lower line that has just been hit by the December 2013 lows. It could have hit a bit sooner or a bit later.

Even so, this is not quite the same as my bullish gold fork. In the silver one, the $26 level is key as is the reversal from support to resistance along the blue median line. The bear market Point Of Recognition started at the $26 level of horizontal support but was triggered by the move below around $30 on the blue line in early 2013.

With gold, the median line goes straight through the POR; not quite the as for silver. I don’t care. These look good to me; good enough for now anyway. Symmetry of the action and reaction lines on the gold chart also adds to the juice:

POSTSCRIPT 16 July 2018:

I must say it is an honour to have one of my posts linked from the right hand sidebar of GoldTAdise for a while!

Having noticed it again today, still sitting there I thought I would re-visit the outrageous silver pitchfork and see if it is … dead.

Having re-visited it, I can say sadly that the outrageousness of the above fork was too much, even for the precious metals bugs and they bugged out and left it for dead. So, R.I.P. outrageous fork for silver. 🙁

However, the gold mini fork is still alive but a move below $1230-1238 could be its death knell as described in recent posts in 2018.

Line in the sand for gold around $1230-1232 or maybe $1238-1240? (4 Charts) $1235 intraday Fri 13th!