Just In Time For Christmas – Golden Cross For Silver
Technicians talk a lot about both golden crosses and death crosses.(crossing of the 50 day mvg. avg. over or below the 200 day) While indicative of an important trend change, they are often used in the short term as a way to fake out traders by those who are large enough players in a certain market to push(manipulate) prices around. As with most technical indicators that have value, the less they are talked about just before and when they occur, the better. If everyone is expecting and writing about something that is about to happen, it probably will have less impact because traders have already acted upon the coming event. Today, Silver will experience it’s first real positive golden cross since July 2020.(the one this past March was a failed fake out after the Ukraine war spike in gold and silver) I have not seen it talked about and that is a positive. It doesn’t mean that today or even the next couple of days will be exceptionaly strong. However, it does confirm what I have been preaching for the last few months. Silver bottomed on Sept. 1st and has been making higher highs and higher lows, ever since. In the weeks and months to come it will not only reach my short term targets of 25, 26, and 27, but take out the 2020 high around 30 and make considerable progress towards the ATH at 50. Take a look at the chart from July 2020 when that last Golden Cross occured. It went from 18 to 30 in just over a month. We know the direction, it is just a matter of how high and how fast the coming rally will be. While the best Christmas present would be world peace, war monger Joe Biden and the neocons won’t allow that, so we will have to settle for the second best Christmas present, the end of the 50 year suppression of the silver price. Merry Christmas!