Goldtent TA Paradise

WHEN WAS THE LAST TIME ?

1. silverboom says:

   August 2, 2024 - 11:18 am at 11:18 am

   That’s called “escalator up, free-fall elevator down”

   Way to go, Fully!!

2. Nautilus says:

   August 2, 2024 - 1:29 pm at 1:29 pm

   This is true. however, one reason I believe “this time is different” is the technical set up and the fact that the miners have been outperforming gold since the spring pretty handily.

   Also, I did warn last month about the possibility of silver retesting its breakout around $26 or one of the 100 or 200 dma. Some of the largest and steepest bulls I’ve observed have retested their breakouts, even after massive initial rallies.

   If silver breaks below its 200 Dma, that would get me a little worried. Right now it is behaving as expected, more or less, for me. The weekly chart is still very bullish.

3. Nautilus says:

   August 2, 2024 - 1:35 pm at 1:35 pm

   Also, based on the daily stochastics I look at (60,3,6) suggest silver is probably going lower over the next 2 weeks, since they are not yet oversold yet. It doesn’t have to reach oversold, but it was something I thought we would see before a major low.

   Also, the 14 day RSI hasn’t hit oversold yet either, which I also thought we would see before silver bottomed.

   What threw me off recently was how well the silver miners held up while silver has been dropping. Well, the miners are catching down now.

4. Nautilus says:

   August 2, 2024 - 2:22 pm at 2:22 pm

   I am not ruling out that silver has already seen its low. If I am wrong, we will find out very shortly I believe (next week).