Loading ...My Recent Gold Call
Within the last few weeks I either posted and or commented on someone’s chart(probably FGC) that Gold was displaying the likelihood of a symmetrical suggestion that would bring it to $5000 on New Years Eve. Nothing has changed that possible outlook. In fact it is even stronger as displayed below. The move from $3300 in August to the $4400 top area took 9 weeks. Another symmetrical move of $1100 from the low at $3900 in the last week of October, projects to $5000 by year end. Now that the FED has done exactly what I laid out on Monday that they would cut(no surprise) but ALSO inject significant amounts of liquidity into the system starting tomorrow, Gold should respond and the target of $5000 by year end is quite reasonable. The chart setup is extremely positive. 
You have no responsibility for how you respond and I would never ever hold you accountable, that would be childish, but what is keeping silver from correcting massively? It’s gone up too fast and really didn’t do any appreciable churning or sideways action or consolidation. What are you thoughts regarding what the heck it’s doing?
You are using suppression era thinking and language.
Good question. What people and many analysts and chart technicians are missing is, as I have been trying to drill into peoples heads for months, THIS TIME IS DIFFERENT! Forget normal technical analysis and charting rules etc. etc. You don’t take a market that has been suppressed for over 50 years, that ALSO has the most bullish fundamental supply demand setup, and follow past patterns and technical analysis setups. These are the mistakes that everyone calling for tops, corrections, dumps like 1980 and 2011 are getting WRONG. This is something you have NEVER seen before and never going to see again. Get long physical and stay strong. The only thing that can go wrong(and after yesterday’s video that I posted)is IF the government makes owning silver illegal. I hope they don’t but to not keep an open mind about the possibility, is foolish, given the situation and how governments always act in the interest of self preservation.,
Thank you!!
I am beginning to think you may be right this time. Silver has already breached above my resistance line. If it sustains itself and keeps climbing then I will revert my call and turn all bull on the trade. We will know by end of the week I think.
I see your point. It seems as though when everyone is bullish, the hammer drops. You are right to be wary. In fact you are making me nervous by your someone reticent near capitulation. There needs to be your side to ride up the wall of worry. This is a difficult position. On the other hand, if a post a few weeks back that suggested the government needs another bubble as an inflation sink, what better way than to let silver and gold explode and the miners catapult to the moon. It will be like the tech bubble, the .com bubble, the AI bubble, but a lot bigger.
Resistance? Resistance lines are meant to be shredded in a bull market
BTW once silver went to a new high there is no resistance.
Only blue sky!!
I was thinking in the past as well. “They” had their chance to smash silver again but it failed or they have joined team “long”. So JPM is now long Silver which is a game changer.
JPM has been long now for several years
Plunger, while that may be true sometimes that resistance can be shredded during a bull market, there is still the issue that this particular resistance line has a 45 year pedigree so there are deep roots going far into the past. Secondly, my chart was monthly candles meaning the final word will not be written on it until the end of this month. Third, there is an expectation that price will show a willingness to throw itself over the line before falling back indicating it will indeed advance again once a correction has taken place. So its a bit too early for pithy one liners that make trading metals seem simple all of a sudden.
Come on guys, we need a come to Jesus moment here. Was anyone around watching the market from August-November 1982? Because this is what I see. No one could believe it. The worst were the old seasoned market pros. They all sat on the sidelines in awe waiting for either a consolidation or a pullback. This is what all I can see here. Really need to examine yourselves…. This is the 1982 moment on steroids.
I’ll vote for that.
Really? Then why were you so quiet until AFTER the line breached? So much for bravery from a savvy silver trader returning for his second coming. By all means lecture from the safe seats after the fact. LOL
Wait are you talking about the 1980 high then the drop and the rally to a lower high in 1982?
Big money in Europe running from the war and confiscation by Ursula, Hungarians and all are under the microscope, capital controls can happen at any moment. My chart shows miners are only at 2020 level and yet they raking in the cash
https://www.tradingview.com/x/eQuiWRFP/