Loading ...Fully: Agree! I think this resistance won’t hold. Gold:Silver “Historic” Highs Coming Indeed IMO…
This is as far back as the Gold:Silver ratio goes back on NetDania. This line is important…
Notice that the cup and handle breakout, Fully showed, broke out and hit this MAJOR resistance and then backtested the cup. Ping pong move before the REAL breakout?
What causes this to pop? IMO: Trump is going to shake things up. Possibly try something amazing in the U.S. with gold, the dollar and our debt. To be determined… I think silver will act as a commodity…. and go down as gold and the dollar rise.
Thanks Sir Chuck that long term line is a doozy. if t breaks we definitely have something of a different Animal on our hands
We have had Golden Bulls and Golden Bears …this may be a Golden Ass….Gold goes stubbornly higher while as you say silver and commodities languish
In October you said you thought the dollar was heading to 160 and gold was going to ‘majorly fall’. Don’t you think there’s any chance the Dollar may be heading down into its cyclical low ?
I did. Of course it could be.
We’re all changing our opinions based on the charts or gathered evidence.
Silver/copper/oil all have broken down. I thought gold was going to. It’s been stubborn and is showing strength. I just couldn’t see it not going down with everything else but now I think there’s a reason.
The one thing I feel from the evidence I’ve gathered? 160 Dollar… that won’t change in my mind unless I see a lot of coming Dollar weakness. Enough to break below the long term breakout line.
Can you post the chart showing silver broke down and has no chance of moving higher? I just don’t buy this thesis.
From everything I’m reading it appears it’s just getting ready to explode higher. Michael Oliver’s mark has been $16.20 for price (although long-term momentum broke out in December), which silver has hit twice in the last month. This is saying this price boundary is pivotal. If it breaks through this number its off to the races. This also aligns well with Rambus’ 40-year quarterly chart, providing evidence of a big move approaching.
Isn’t this what silver is supposed to do in a bull market … lag behind gold and keep as many people on the sidelines as possible before it moves higher? Also, massive silver gains are being digested since the end of last year.
No chance of silver moving higher? Hmmmm. No. That’s not how chartology works. It ABSOLUTELY COULD BE a false breakdown and could zoom higher. I’ve posted the chart many times, even about two weeks ago. Silver is below its major H&S neck and currently backtesting. I believe it’s not lying but telling the truth of something different for silver going forward. I believe there will even be a shift out of silver into gold once people realize this paradigm shift of silver not being used as money but gold being it.
I don’t see what makes silver move higher though. It used to be a currency and the dollar used to even be redeemable in silver even in the 1970’s. Those days are done though.
Mad max isn’t happening. We’re not going to be using silver coins to buy bullets and canned goods from our neighbors after the “wars”. Plus the Central Banks are buying gold only, not silver, in massive amounts now. Gold is going to be the future. Now may there be “all encompassing” commodity based currencies in the future? I see that as a possibility but that would raise copper as much as silver….
Chuck interesting comments thanks for your post. FWIW IMO oil broke down along with the DJI but $Copper held it’s own in 2018. I did a ST trade in Oil because $Copper told me otherwise regarding the mini crash in Oil and the DJI. FWIW I did better in Oil than in the PM miners since Dec…..The worrisome part of the $Copper (and CRB in general) chart is the Baltic Dry Index…..IMO be ready for anything in $Copper…..
FWIW I think $Gold is a big part of this trade/currency discussion going on between China and US. IMO $Silver is not tied to the hip with $Gold, $Gold is money…….and I’m fairly sure it’s part of these G2 meetings.
It will be interesting to see what happens moving forward, I see silver rising and not losing the monetary position its held for thousands of years (its hard to argue with history), regardless of crypto, gold, etc. It like the junior minors tend to lag the beginning of new bull uptrends, so far this time is no different.
With gold and many miners recapturing their broken trendlines recently … I see the same occurring for silver. And yes, I have a pretty good idea of how chartology works, it doesn’t work everytime, but it can provide a good guide of what to expect.
Thanks for the reply. I think silver will have much bigger gains as gold breaks above $1350-$1400, but time will tell, as always.
Going to definitely be interesting to see what happens indeed.
I’m just ready for “something” to happen. This couple year consolidation has sucked!
One of the attractions that silver has always had and I believe will continue, is that it isn’t nearly as expensive to buy as a store of value and a hedge. People have been buying silver coins for ever!
Since the coins aren’t worth nearly as much as gold they can be traded or used as currency much easier.
I don’t buy for a second that silver won’t go up with gold.
The bottom line for silver is that it’s more practical compared to gold. That is it’s attraction when the metals move higher.
Good points, and you absolutely could be 100% right, and we could know next week if silver shoots up just a little more. It’s at the major neck now.
I do wonder if it will be different this time though.
I don’t think we’re going to have the wars or the fear of economic collapse because of what I believe Trump is going to do. I think the market may be picking up on this.
I don’t think there’s going to be a need to use silver as a currency because we’ll have a gold backed one… I don’t think in this future all digital currency (gold backed digital currency?) world coming we’ll need to carry around anything to trade with but our phone or “implant” in our head or right hand? Jk on that one… maybe 🙂
We’ll see Sir Steins…
Steins the past you mention regarding Silver got me thinking recently that people often think of the PM’s together ie Gold & Silver. I’m starting to think of Silver as more as competitor to Gold in they’re relationship. Think about this for a moment. Gold gets so called too expensive for the common man so the peasants turn to Silver if the past is any indication ie Poor Man’s Gold saying came from somewhere No? Isn’t it the typical scenario once the common folk jump on board the trend, the trend does what? Could Silver be considered the competition of Gold? The indicator of public (poor man) sentiment? Not saying their isn’t money to be made, cause I’m all about making money in all it’s forms, I’m just developing a different opinion than the $hit that we all get spoon FED lol. May we all make wheelbarrows full of wealth……in what ever form.
Good thoughts above and here Red Label. Thanks for sharing.