Silver Price Watch
- Thread starter STKR
- Start date
Mmm. I was suspicious about the lack of tail on that candle. Looking back in the charts, the last time a bullish candle didn't have any tail was 115 weeks ago. It's not impossible, just not likely to go straight up from an open without a pullback. Looks like we finally got it on the Friday smackdown.
In 2011 they imposed position limits to prevent anyone from placing large positions on silver. Only those who were given "bona-fide hedge exemptions" were able to place large orders. Of course, this was the commerical bankers - giving them more control over the market.
I'm going to look into these EU restrictions. Looks to be anecdotal at this stage. What's interesting about this is the Wall Street Silver movement called for buy orders on PSLV. Maybe they're seeing a massive influx of buy orders from the EU, and maybe it's related to the Wall Street Silver/bets movement....
There's more info here on the Wall Street Silver reddit page:
Many other people are confirming the restrictions. Considering Sprott's PSLV is backed by physical silver, maybe the restrictions indicate a shortage of 1000oz LBMA spec bars. Maybe it's just temporary? Maybe it's here for good? If I were Sprott, I wouldn't be happy about this. It all seems like a play to reduce demand of 1000oz bars. As Oz suggested, this development along with the increased margin requirements indicates a desperate attempt to prevent silver from breaking out.
Many other people are confirming the restrictions. Considering Sprott's PSLV is backed by physical silver, maybe the restrictions indicate a shortage of 1000oz LBMA spec bars. Maybe it's just temporary? Maybe it's here for good? If I were Sprott, I wouldn't be happy about this. It all seems like a play to reduce demand of 1000oz bars. As Oz suggested, this development along with the increased margin requirements indicates a desperate attempt to prevent silver from breaking out.
Well Sprott's PSLV is different to Comex positions and other ETFs. It's backed by physical silver, so each time someone buys PSLV it will take physical silver from the market. By restricting buy orders for EU members, you're effectively limiting physical investment; specifically the 1000oz bars they'd buy to back their positions.
Ensuring 1000oz bars are available for delivery would also be protecting short positions. A real physical shortage would put more pressure on shorts than paper trading ever could.
My chart confirms a breakout is very close! Sure a small pullback but the stacked candles do not lie
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While all the fundamentals are there and we see and know most of them AG is also the most pumped of all metals. Occasionally go on and read the comments especially on the big silver pumping channels...the expectations are ridiculous-1:1 gold, $1000usd,etc crazy shit from people tripping,desperation or unlimited imagination 
small market,easy manipulation. Im ignorant and inexperienced only been doing this afew years now but have time to keep learning and stacking but AU has left me with lasting love...and decent growth, plus that golden glow! Beautiful,blinding for the 1st few years i was hypnotized, still am but learning a lil restraint
small market,easy manipulation. Im ignorant and inexperienced only been doing this afew years now but have time to keep learning and stacking but AU has left me with lasting love...and decent growth, plus that golden glow! Beautiful,blinding for the 1st few years i was hypnotized, still am but learning a lil restraintWhile all the fundamentals are there and we see and know most of them AG is also the most pumped of all metals. Occasionally go on and read the comments especially on the big silver pumping channels...the expectations are ridiculous-1:1 gold, $1000usd,etc crazy shit from people tripping,desperation or unlimited imagination
I don't think it's that far fetched that silver could go through a period of extreme price rises and reach $1000 or 1:1 parody with Gold. IMO it's not likely to happen in the near future but we cannot ignore what silver is and the role it plays in our lives.
Some points to consider:
- The modern world has never seen a real physical shortage of Silver. The closest we've been was in the 1960's and the decision to remove silver from our coinage was simple, as silver was easily be substituted with copper, nickel and tin. The same cannot be said for Silver's use in industry.
- Because silver is so necessary (the second most useful commodity on the planet), it would require a total shift and evolution of the markets, along with innovation, investment and a complete restructuring of our manufacturing processes. We must ask ourselves what that would look like? The whole world would need to come to a halt if silver were to be abandoned. That would never happen. Innovation would be needed but such a transition would take time and would command a collective effort and incredible investment on a global scale to become a reality.
- Once a real physical shortage arises, the amount of companies that would be competing for silver would be endless. This would extend far beyond the consumer market and directly impact global and national infrastructure projects, communications and the military.
- What would happen when industry needs a metal for society to function and it's not available? Allocation to mints would be restricted, investment grade Bullion would become scarce; all while interest in the metal increases exponentially due to rapid price increases. Something would have to give and the easiest targets will be the first to go, which is the jewellery and Bullion markets. What do you think would happen to existing coins and bars during that period? The premiums would go through the roof and the relationship to spot price for Bullion would begin to dissolve via excessive premiums.
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There's so much to unpack when looking at the future of silver. I completely agree that Silver is pumped up by permabulls talking their game. They often hype the metal so hard and give the impression that silver will be worth $1000's in a matter of years. I don't subscribe to that BS but I certainly won't ignore the very unique predicament Silver's in, and the insane potential of any resource that's relied upon so heavily with rapidly dwindling reserves. The only thing that's prevented silver from reaching triple digits and beyond is the aboveground stockpiles and the intention to utilise them to keep Silver's price suppressed.
The question is (and always has been): how much is really left and how long can this continue. The recent developments over the past few years indicate we're nearing the end of cheap silver. We've witnessed a 40% increase in Silver's price from the February lows this year. Imagine what silver could do when there's a real physical shortage! $1000 silver or even 1:1 with gold is well within the realms of possibility once you factor everything in. It may not be industry spot price that gets us there but it very well could be premiums on investment grade Bullion.
I'm looking at 3 white soldiers on the weekly your scale! indicating a brakeout near term is on. WW3 is so near and so many people / nations are fobing it off as a nothing! Fools they are as history will repeat. Silver as a strategic metal will be In the rare category.
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This is what I see. A correction - most likely a sideways movement to the moving average - followed by a powerful run up.
This would align well with the monthly candle making a tail and potentially moving up to the $35 USD levels.
Just out of curiosity... Where are you getting your chart from? And why isn't it like all other silver charts?
Yes your weekly candle has retracted below the top Bollinger band from the first chart ohoverbought status First chart indicating that the PoS was top heavy... hence the pull back. Do you know about the taz ? It falls into that category. I don't understand the second chart? But do understand the candles that have stacked. ( bullish ) pos
The new monthly candle hasn't begun yet but will in a few hours. The level I marked was around where the moving average would be on the weekly charts, creating a nice little tail on new green monthly candle. I agree that everything looks bullish overall but it appears this little correction isn't over yet.
I guess its more complex but i havent been internetting much the last few days, im wondering what the reasons for metals copping a beating is? I know its just under 30 atm so really its not that low but seemed very sudden like there was some critical news. Noticed fuel up too