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Silver Price Watch

Smithys Bullion - FINE GOLD AND SILVER
Silver Soul said:
Can I see the chart you are looking at with the monthly candle that you're referring to please. Cheers
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I would've said the same thing at Dow $25,000.

If it corrects to the moving average, we could see $26 silver. I'm sceptical of a big move up from here at this stage. If we do so a deeper correction, August/September would be the target months for it to push higher. I dunno, it's hard reading the tea leaves sometimes but that's just what I'm seeing from the monthly chart. It would all ride on what this current candle does and it just looks likely to turn to the downside.

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gold is near 2,500 yet both Pt and Pd are under 1,000
silver is just half way there, nowhere near
 
Why so cheap? Have they been faked so many times that the stacker markets don't trust them anymore?
 
The premium is lost, when dealer on sale them they are just bullion coins like the roos
 
since the dealer is selling them as bullion again, its good to get 100 of them.
then they can later be swap for gold when the ratio is lower, or use as trade silver when people exchange coins for bar
 
If we break through $28.70, we're going lower. This is still very positive for longer term trend we're in. We're just seeing a broader correction on the monthly charts.

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Yes, the candles have broken the clouds support on the daily indicating more downward pressure on silver I give you that. But that's the markets being unpredictable. Screenshot_20240723-215319_TradingView.jpg
 
On the other hand I am still a positive punter that pos is in for a big move. Very soon. On the weekly pos is still over bought and th market will compensate for that. Screenshot_20240723-220241_TradingView.jpg
 
Now getting on to the monthly chart. God himself can not change what is going to happen when silver breaks out of its forced mold. I can tell you that the candle's do not lie. Cheers

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Silver Soul said:
Now getting on to the monthly chart. God himself can not change what is going to happen when silver breaks out of its forced mold. I can tell you that the candle's do not lie. Cheers

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Do you look at the standard candlestick charts or do you base your trending analysis on Heikin Ashi? I was always wondering why your charts looked so different and now it makes sense. I never really like setting it to Heikin Ashi because you can generally smooth out the charts with the moving averages. I see the value in taking a look at it but I certainly wouldn't base my overall analysis off these charts. We could see the beginnings of a trend reversal and it wouldn't become obvious for months after if you were observing Heikin Ashi. The benefits are also the biggest downfall.
 
^^^^ I look at the charts and market the way I feel comfortable with. I can tell you that I am no spring chicken when it comes to this. Predicting where tops are and bottom supports maybe are all part of the fun. I do analyse the POS in many chart scenarios. Both ways there is money to be made on silver either short or long
 
No offence BUTT, You are both fairly average at reading the charts. The best method is to wait for a sign from God. For instance this morning i was struggling with a heavy item in a hardware store and a young man helped me. I see this as the work of god and god was working through this individual. What has this got to do with the price of fish? Well, its more about the vibe. After having this encounter with God in a carpark i sensed the price was going down then up again at some point. Its hard to describe this 6th sense but if u got it u know it, and if u dont, then i guess u.r ungdly (shorthand for ungodly) so keep up the good work but you both have a loooong way to go. Believe me , i been in this game since 2022 so i know a think or two.
 
3% of the people have the foresight
there is always a confirmation that a low price and yet to come, to keep these people that they are not the 0.01% that have better grab of things
there is 6th, 7, 8 9 and 10th sense
 
Sandy, there is no 6th sense in the silver market. It's a daily mantra of hope and pray what you have backed is right. Have fun learning charts. It's worth it. cheers
 
following gold pattern, silver will not break that 28.60
but Pt and Pd have their own mind, they break their support and went lower
i don't want to burn my days taking a peek into the future, let it be will be

but in my heart, wish for a break so that can buy some silver items, pay day is next, tube of 12
 
Bouncing on support as expected. If it fails then silver bulls will hurt for a wee while. Man up ;)Screenshot_20240724-205035_TradingView.jpg
 
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