Loading ...SLV’s 100 and 600 WMAs….
By request. I think if SLV does manage to crash below these two MAs, the 17 region would be the next area of support (which corresponds to the 400 WMA). If it does get that low, I think it will set up a massive move to $150+ within 2-3 years, but it will probably struggle initially to break back above the 600 WMA (maybe for a year).
Thanks much, Sir Nautilus, for obliging me so quickly!
Watching these very long moving averages … that’s what those who orchestrate these smackdowns are doing.
“They” are just trying to weaken the resolve of the last (or longest) standing bulls.
Many miners are showing chances of slightly green closes today. That’s a tell for me.
Right now “they” are trying to make the 100 WMA turn downward, doesn’t look like an easy task.
We will see. Next week is FOMC on 9/21 and 9/22. Forget the taper … the latest worry is the debt ceiling … are we in for an unprecedented jump in this this ceiling … a DXY plunge is what I see … DXY has made so many attempts to go above 93.3 … is this the last hurrah?
I anyway have a lot more cash on the sidelines, if a March-2020 like plunge is orchestrated.
Thanks again!
GL
Nothing would shock me with silver. It can go anywhere in the short run.
The more interesting one for me is gold, since it is so much further mature, technically, than silver. IMO, gold really has no business dropping below it’s 100 WMA (at $1756) at this point in its bull run.
Sir Nautilus,
There are many levels below 1756 that are being watched closely.
1714, 1709 …
Below 1709 is when the bull case would have severe damage, of course price wise, but more importantly the momentum would have turned down.
Note that 1673 was where it started turning up again, ending the decline from the August 2020 all time highs.
At some point, watching price and MAs may not be helpful.
Price is “after the fact”.
Momentum just might matter this time around.
I’m quoting what I read from https://twitter.com/Oliver_MSA/status/1438633513222295559
But what do I know? LOL
GL