Loading ...This Months Breakout in Silver is the Real Deal
With a properly drawn chart there is not usually a lot of room for equivocation or doubt. Can you just trust your own eyes then instead? Take a look. After 4 years of slow development, a continuation pattern (triangle) has finally shown its true intention. This was expected as a matter of course. There was no surprises at all for anyone who was monitoring this as it developed.
The only caveat is that the month is not over yet. The reason I mention that is the current monthly candle is fully above the prior resistance line but by months end it may well be a straddling candle partly below the trend line and partly above. Not that it matters much at this stage so I won’t bother calling it. The trade is a safe bet using other tools and my expectation is we see almost 30 dollars in fairly short order.
So enjoy the ride, Silver Bulls. Your long wait is over.
Thank you Sir Farmer. I always have great respect for those who follow up with evidence on their promised TA.
While digging for some (g)old nuggets, I am now reminded that sanity must prevail again, though I have waited so long for this that silver’s inflation adjusted nominal price SHOULD be my first sell target for my juniors (given that it reached 49.45 in 1980)
https://goldtadise.com/?p=537794#comment-101554
While digging for this post, I was also reminded of one Tenter who left the Tent as the criticism got too harsh. Was it Sir Highroller? Probably not. Who all are the great technical analysts who are not contributing anymore?
GL
A sight to behold Sir Farmer
Unambiguous breakout
Bob is Manic
Sweet isn’t it. This is the years bottom. All uphill from here so we only await the response from the miners now.
Is Gold’s DCL top already at hand (2320)?
https://twitter.com/sich8/status/1775639121953693709/photo/1
GL
Just ignore that Twitter chart GL. It makes no sense. Its also called “guessing”!
The rule is trade what you see. Isn’t amazing how so many so called “experts” never saw this one coming. I’ll name one “Doc” on the Kerr report had called for EXK to reach $1 before we had a bottom. Several more (I won’t name them) had been so bearish calling for much lower lows and where are they now. They’re on the sidelines looking in that’s where.
I’m sitting tight. To get through $30 silver it’s going to be a wild ride.
Sir Plunger,
Always great to see you chime in. Your posts are rare but quality.
How does one time the partial exits? As they say, buying is the easy part, selling is the hard part.
As one of my Gurus shared in a Tweet today,
https://twitter.com/TheLastDegree/status/1775569612865745067/photo/1
As you can see the ride to $30 in silver in 2011 was longer, time-wise, but after the pullback to 26.xx, the next one blew the pants off off the first advance.
In the green rectangle in this link, how much %age should one sell on the first big monthly red candle? All decisions are my own. Understood.
I’ve seen so many wild rides already. In one such recent instance, in 2021 I sold 90% of my SVBL holdings, 11 of the sell lots being above 0.85 per share. It still languishes at 12-13 cents even today.
And, by the way, my anticipation is a minimum $80 silver before the election.
My biggest winner in the last 12 months has been BADEF, though it gave back a lot.
GRSLF has been super impressive. Unrealized gains of 355%, 365%, 372% and 230% in the 4 most recent positions, started on or after September 1st 23.
I was once ridiculed for following the advice on the analyst who recommended GRSLF to me. As a guy married for 24 years, I can take a lot of ridicule.
I am trying to remember who it was but that Tenter left the Tent in disgust. They are always welcome back. Sir Fully may remember those who have left in the last 2-3-4 years.
GL
I thought there would have been more of a battle at $26 range, but it just blew right through it. So you think $30 area will be more of a challenge? We could be there in short order.
Plunger! You are a Kerr listener. I am Birdman! LOL
The birds were chickens by the way. I am decades deep into metals. its exhausting.
Sure looks that way, nice chart!
Credit also goes to Chartsmaster, he called the move few days before it started if memory serves me right.
Sir Buck,
Sir CM has been a savior, at least for me, at the Tent.
In markets manipulated (mauled) beyond recognition, it takes some balls of steel to stick to a stand.
In India, CM stands for Chief Minister of a state.
Sir CM is one of the Chief Ministers of the United States of The Tent.
GL
Thanks brother.