Silver Price Watch

[STKR]

Ok. One of the more interesting times in Silver's history. Only a few dollars away from it's ATH in AUD. I think we're going to push down into the low 31's (around $31.30) and then finally breakout into $33 this week...and maybe reach $34-$35 this month.

Open interest in silver will be strong and the commercials are going to have to double down to stop any play here. If they go net Long to cover themselves, then we could see parabolic moves and go FULL MiNERD

 

[STKR]

^^^ That's an interesting analysis, and summary you have made for the POS! Is it a gut feeling? Or a off the chart analysis that you are seeing?

Chart analysis. I'll share my thinking with you:

This is where I saw the $31.30 dip happening. It's about where we are now. I expect there to be one more green candle before a correction.



And the monthly charts looks like it's about to take off.

 

[STKR]

Interesting. The crossover had me at 31.35 once the cascade had entered the cloud.

View attachment 13088

Heikin Ashi. Not for me

 

[STKR]

Uh oh. We might be seeing the beginning of a correction on the weekly charts. Need a sharp turn around from here

 

[STKR]

This was the dump on the hourly charts

 

[STKR]

The good news for Aussies, is the AUD dumped at the same time.

 

[pmbug]

China didn't hand out enough crack to keep the party going.

 

[STKR]

JPM traders

 

[STKR]

It was an ugly night. But the good news is; the most undervalued asset on the planet is now much cheaper! I really shouldn't be surprised but the optimist in me always has hope for brighter days. I need to remind myself that no matter how favourable the charts look, there will always be intervention while they still have control of the physical market. Massive deficits, strong supply/demand fundamentals and favourable charts mean nothing if they have a hand to play.

But this is all good news for the long-term stacker. More time to acquire. $45 buys you nothing these days - barely half a tank of fuel - yet you can still get an Oz of the most useful precious metal on the planet.

I'm not a drinker but I look forward to the day we're cracking one open and looking down on these prices, reflecting on how cheap silver once was. Remember, it was only 4 years ago that silver dipped below $20 AUD. And two years before that we had several instances where silver was $18-$19 an oz. Double digit silver is closer than we think but patience is a virtue in this game.

 

[STKR]

"I'm not a drinker"
That is so sinful in this world.

Indeed. I'm pretty much straight edge now. Even trying to kick coffee.

 

[Cirt]

I'm only young still but giving up alcohol almost 2 years ago saved my life as far as I'm concerned

 

[ozcopper]

Indeed. I'm pretty much straight edge now. Even trying to kick coffee.

I just gave up Tea. I drank 10 to 15 cups a day for years. It was the hardest thing.... Had a headache for nearly 2 weeks.

 

[Sandy Gooch]

Non drinkers have the best stash....

 

[STKR]

Not sure what caused this snap sell off. It happened to AUD/USD as well. I actually had a short on silver on Friday that I held over the weekend, so it worked out well for me.

When we get gaps in the charts like this, what usually happens is the candles fill the gap and then the market goes in the direction of the gap... So in this case it will probably rise to $31.50 and turn back around to go lower.

 

[STKR]

Every chart from the 1 hour to the monthly is looking real nice for a run up.

 

[STKR]

Back into the sensitive zone again!

Which will soon apply to me if we get another wash, rinse, repeat.

 

[pmbug]

Silver's day is coming.

 

[alor]

just take the silver first, once done ; come back and see the shows

 

[alor]

sent out financial quakes warning, gold up 50 silver up 5

 

[STKR]

Friday night! Will it go pop or the dreaded flop?

I feel like pop and flop are the same thing in this regard. But I'm literally betting on a breakout.