Silver
I know it’s a jinx to talk about a reversal. Eh, Fully?
Did we just experience a double bottom when silver posted a $21 handle?
I know it’s a jinx to talk about a reversal. Eh, Fully?
Did we just experience a double bottom when silver posted a $21 handle?
Shhhh
You’ll get in trouble with Boomer.
Hopefully he is Golfing
I am NOT golfing, and the jinx is in!!!
Its likely going lower.
Armstrong private blog has gold reversal off its highs in 2024 to test the lows. Target in the $1500s possible he says.
This indicates a deflationary event in 2024.
Also, we need to see $3 copper before things get interesting.
This is waiting game, looking for the whites of their eyes.
NO WAY JOSE !!
He says it will likely be a false move lower, to run the stops and get the bulls to capitulate.
When it reverses higher he has it topping out in 2026/27 in the range $4000 to $10,000.
Well then thats a hell of a forcast from the “Forcaster”…I’ll take it
🙂
Fully, you were copied on the Armstrong piece, and Sam is also looking for 1821 gold by July (ish). 1500s were MA’s more extreme limit.
In Nov, I posted here that we COULD have bottomed in SILJ.
Then after a hesitant abc up (corrective) and then my sell alerts, I posted a BAIL with a LT sell marker. I said that was a big deal.
SO … yes, you LTF chartists will get buy signals soon, and they will be COUNTERTREND at HTF. If you don’t work multiple timeframes, you get hosed.
I post 2D charts, but my system is 4D I just can’t post those in full.
In EW parlance, when we finish 1 down (soon) — as five subwaves down, we get a retrace bounce for 2 up that will draw the permabulls back out (you know who you are and who I’m referring to) ahead of the mini crash wave 3 down.
The Banks are racing to cut their short positions in the precious metals. They cut their net short position in Silver by 50% last week alone.
https://www.sprottmoney.com/blog/utopia-in-gold-silver
In my investing life, I learned that the banks never lose.
GL
Would rather not see the October low in silver taken out, but it’s not the end of the world if it does IMO.
Under cycle theory, gold is almost 100% guaranteed to take out the Dec 13 low of $1987 during this correction, so I am expecting silver and the miners to get slammed into that decline.
Sir Nautilus, could you please expound on the rational of why gold is likely to take out the Dec. low? I see 4 consecutive months with higher lows.(so far in Jan.) Not saying it can’t happen, just what is it that makes it such a high percentage possibility? Thanks.