Silver Monitoring Thread $ (USD) only

[Auricsstash]

That’s the problem with these silver moves they never seem to last. Traders dream stackers nightmare...

[DarkChameleon]

6 hours ago, Auricsstash said:

That’s the problem with these silver moves they never seem to last. Traders dream stackers nightmare...

Back up to $22.30, off the high but not outfor the count, big sell off at opening but climbed back quickly, thats a good sign.

[Auricsstash]

1 hour ago, DarkChameleon said:

Back up to $22.30, off the high but not outfor the count, big sell off at opening but climbed back quickly, thats a good sign.

Yeah it’s held a bit if it’s going to go up significantly it needs to hold $23 in the overnight session..

[Kman]

This is what I'd like to see happen

I don't think it's possible silver can break upwards out of the trend it's been in since May, it was already going very strong, it's got to come back sooner than later

I'd like it back to $20-21, lower trend line would be 20-20.4

That would be a nice entry point for a leveraged buy once it's stabilises and gets back on it's upward trend

[DarkChameleon]

Just hit $25.

[vand]

$26 overnight. Mama Mia. 

[Kman]

When the dollar went up 0.35% over night it brought down

Silver -6.5%

Gold -2%

They're ready to pull back big if the dollar can show some strength 

 

[DarkChameleon]

5 hours ago, Kman said:

When the dollar went up 0.35% over night it brought down

Silver -6.5%

Gold -2%

They're ready to pull back big if the dollar can show some strength 

 

With trump at the helm and minutchin and kudlow, im amazed thet havent brought out a million dollar note.

[Martlet]

Healthy pull back as far down as $20.50 could be on the card, reading the Fibonacci tea leafs. 

[Kman]

10 minutes ago, Martlet said:

Healthy pull back as far down as $20.50 could be on the card, reading the Fibonacci tea leafs. 

My guess is $23 was the bottom for silver

Dollar had a little upsurge overnight that is getting overturned now, that's what brought pms down

I expect gold and silver to recover by the end of the day to where they yesterday or higher

With the Fed hands tied into doing more stimulus the dollar is only going to continue down,  so gold and silver up 

[Dragonnumis]

On 28/07/2020 at 13:48, DarkChameleon said:

With trump at the helm and minutchin and kudlow, im amazed thet havent brought out a million dollar note.

Wait...... you haven’t received yours yet??

 

[Kman]

1 hour ago, Kman said:

My guess is $23 was the bottom for silver

Dollar had a little upsurge overnight that is getting overturned now, that's what brought pms down

I expect gold and silver to recover by the end of the day to where they yesterday or higher

With the Fed hands tied into doing more stimulus the dollar is only going to continue down,  so gold and silver up 

I didn't expect such a sea of red today

Silver and gold might get temporarily sucked down along with everything else, lets see if the $23 can hold otherwise @Martlet may be right 

[DarkChameleon]

40 minutes ago, Dragonnumis said:

Wait...... you haven’t received yours yet??

 

I got one of them too...but the hyperinflation is a real possibility.

[Dragonnumis]

@DarkChameleon Agreed. Hyperinflation would be disastrous in the U.S. at this particular time combined with Covid19. Hoarding shopping and fuel etc, when people should be distancing, combined with the existing social unrest. The most vulnerable elderly would also see their life savings become worthless.😩

[Kman]

I made this image to compare where we are now overlayed on the 2011 bull run, 8 hour chart

To the left is where we are now in blue currently bouncing between $23-24.50

It only took about 180 days in 2011 for silver to double from this point to $50

Personally I don't believe we only have 180 days of upside left that seems very short,  closer to a year makes more sense if not two years

With those time frames in mind if we keep up a good pace then $65 seems like a very low target and closer to $100 seems possible

Is this pie in the sky do you think or a possible scenario? with all the QE doesn't seem outrageous 

Edited July 31, 2020 by Kman

[Kman]

I just want to share something I learned about charts

This is the 2008 silver bull run, if you draw a trend line at the bottom like so

 

You will notice that in 2012 the price came back to the original trend line it started in 2008

What's also very interesting is if you copy/paste that trend line in and move it up to where it fits you see the price isn't just random, there is structure to it

 

When it burst out to $50 where did it come back to on the pullback? the lower trend lines that started in 2008

 

 

When the price dropped below the first trend line of support it fell into a bear flag and was the start of the long 2014-2020 trend we're just breaking out of 

 

 

I find this is all super interesting and useful for plotting out whats going to happen to silver now 

Edited August 1, 2020 by Kman

[HerefordBullyun]

14 minutes ago, Kman said:

I just want to share something I learned about charts

This is the 2008 silver bull run, if you draw a trend line at the bottom like so

 

You will notice that in 2012 the price came back to the original trend line it started in 2008

What's also very interesting is if you copy/paste that trend line in and move it up to where it fits you see the price isn't just random, there is structure to it

 

When it burst out to $50 where did it come back to on the pullback? the lower trend lines that started in 2008

 

 

When the price dropped below the first trend line of support it fell into a bear flag and was the start of the long 2014-2020 trend we're just breaking out of 

 

 

I find this is all super interesting and useful for plotting out whats going to happen to silver now 

There will be a small pull back on silver then it will fly

[DarkChameleon]

Silver drop back is slowly growing back up which is goid news especially as gold hasnt dropped with it, shows good stable upward trend perhaps not a chaos move up like the last couple of weeksu less the average none pm owner goes silly or the media go all in but still movement looks up nicely, perhaps $28 by the end of the year baring publc chaos.

[Kman]

I've been looking at the charts and I think I have an idea of what might happen during August

The dollar is going to come up and retest the trend line it fell out of that's from 2011 - This will take about until the 20th August, it will then start to fall again 

In the meantime because of that silver will stagnate a bit and might drop to as low as $22.25, maybe $21.80 if we're lucky 

Then when the dollar starts dropping again silver will begin it's next leg up and have a strong month going to late September reaching $27 something, maybe $29 before pulling back and resting again before it's next leg up 

 

 

[HerefordBullyun]

5 minutes ago, Kman said:

I've been looking at the charts and I think I have an idea of what might happen during August

The dollar is going to come up and retest the trend line it fell out of that's from 2011 - This will take about until the 20th August, it will then start to fall again 

In the meantime because of that silver will stagnate a bit and might drop to as low as $22.25, maybe $21.80 if we're lucky 

Then when the dollar starts dropping again silver will begin it's next leg up and have a strong month going to late September reaching $27 something, maybe $29 before pulling back and resting again before it's next leg up 

 

 

Yep exactly what I think. Good  analysis @Kman

[Kman]

I really wasn't expecting this breakout, I was planning on topping up my slv more at ~ $23 or lower

It's flying

[vand]

Think we are likely to get a retest of $26 that it touched out of NY hours last week.

[vacancies]

Breached 26 briefly, but agree a pullback to 25 and some sideways action would be good.

[kojak]

2 minutes ago, vacancies said:

Breached 26 briefly, but agree a pullback to 25 and some sideways action would be good.

I reckon a pull back close around $25.20ish and then hopefully settle and supports there for another move in the future and to finally breach $26 nicely.

[Kman]

New prediction. tops out $27-28, probably closer to 28

Falls back to $24.80-25.80

I feel good about this one, which I shouldn't because I'm getting it very wrong so far lol