16 July 2018:

I must say it has been an honour to have one of my posts linked from the right hand sidebar of GoldTAdise for a while!  Silver’s Outrageous bull market pitchfork. It was more hope than expectation, as a bit of fun.

Having noticed it again today, still sitting there I thought I would re-visit the outrageous silver pitchfork and see if it is … dead (or like Phil Collins: “Not Dead Yet”).

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. I may append it below after re-doing it. It’s has probably just been broken to the downside. I think it has been, clearly, even though it isn’t necessarily a precise science. The purple fork of the revcent bull run is very close to parallel to a much larger fork starting in 2010/2011, depending on how the larger fork is drawn.

Small purple fork broken to downside (pivots 1130.40, 1307.80, 1045.40) is half the width of the …

Larger blue fork (pivots on (1227.50 or 1309.10), 1978.10, 1179.40). Strictly perhaps the 1309.10 ois the correct point A but the earlier peak at 1227 makes a neat structure almost exactly parallel to the recent bull run (I hesitate to say current bull run).

At a stretch, the purple fork might have been back-tested already – but maybe not.

 

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

Original silver pitchfork post:

Silver’s outrageous bull market pitchfork (and comparison with gold’s). Revisited – RIP.