Updated August 2 - 12, 2020: Silver is Gold on steroids!
Silver - with PF Targets
|Bullish objective||$22 - $48 - $57 - $85 - $145
|Resistance||$28 - $32 - $44|
|Major Support||$ 21.00 - $ 18.00
|Bearish Objective||$ 14.00|
|Technical pattern||Long Term Breakout
The Silver market is tiny. About 700 million oz. of silver are mined each year worldwide. About 200 million oz. recycled. About 100 million oz. from "other" sources, like governments. That's the supply side. At $20/oz., this is a $20 billion annual market.
|Silver-Gold ratio long term
Click here for HISTORIC SILVER
SLV ETF strip story: BREAKOUT [SLV is an ETF & should not be bought as an investment !] -
|July 24: breakout
||July 24: Bull Flag + Target $23.80
||Aug 12: Gaps are closed
||Bear Trap = strong buy||Aug 28, 2017: PF Targets|
Halfway bottom consolidation - the medium-term target is $48 - Long term target is $ 145!
This action explains the HUGE FLAG formation: "The Chinese are divesting out of paper right now. So we are seeing a huge uptick in euro physical silver purchases, as well as dollar silver purchases. When silver took out $33, a huge amount of physical orders were filled. The Chinese are doing the exact same thing in the silver market that they are doing in the gold market, massive accumulation on dips (visible on the candle charts below). It is also important to note that the local traders in silver are short and nervous. Everyone is short silver and so that the market can move violently higher when it turns. When silver reverses, it will be the one that leads the market higher. Also, the commercials have been covering in silver the same way they have been in gold...."
|The Bearish Triangle is now a Bullish Flag. The formation which is being formed at this time will propel Silver to about $ 88. That is after the $48 has been broken to the upside and tested.|
|click to enlarge...the first chart was published in 2017!|
Silver expressed in Euro
|Bullish objective||€ 46,5 - € 62|
|Bearish objective||€ 14|
|Technical pattern||new bull run.
|BACKTEST & SCREAMING BUY
Silver expressed in Swiss Franc -
|Bullish Objective||FS 28 - FS 32 - FS 42|
|Resistance||FS 28 - FS 42
|Bearish Objective||FS 14|
|Technical pattern||Beginning of a new bull trend
|BACKTEST & SCREAMING BUY|
Only retarded investors don't get this! Investing is NO CASINO and therefore this information is still actual...even in 2019.
|€ Silver month||CHF Silver month|
|The price goes up when time is up: Time is UP (Nov 2017 - Feb 2019)|
A perfect technical picture we had. See the 2004 breakout out of a huge bullish triangle. The 20 years (1985/2004) resistance line has become huge support. A first bull run is interrupted in 2008 when Lehman Bros collapse and we have a huge deleveraging. [Whether Lehman is to be blamed or not is another chapter]
During the Deleveraging action the BREAKOUT level is positively tested (indicating we now have a confirmed BULL TREND). After the test, Silver geysers up again to the top of its long term trend channel. Either Silver goes parabolic of it needs to consolidate sideward (I think the latter will happen).
For this reason, I expect Gold to perform better this year than Silver. Silver is the poor man's gold. As long as people are insecure, as long as we sit we this Fiat paper money, Silver will be strong. We have a paradigm shift: what we live today, is not the ordinary recession like we lived during previous cycles. By now this should have become clear to most. The Crisis asks for extraordinary measures but also for extraordinary protection.
Silver is one way to ensure your savings. It is a REAL ASSET, REAL MONEY. (the alternative is to buy Government bonds who yield nothing, keep your money into Bank accounts who yield nothing or stack it under your mattress where it will be inflated away). At this time Silver sits in a congestion zone....the bigger the zone the larger the subsequent run.
Updated March 15, 2010
$-Silver objective for Wave II is $ 42,50 - €-Silver objective for Wave II is € 35: Silver has finished the 1st Wave cycle 1,2,3,4,5 and the subsequent ABC correction. Logically, it will in the wake of Gold reverse and start its Wave II cycle. The objective is $ 42,50 or 5 times the low.
- April story: Silver and Gold usually put in a bottom in March and a top in April. March 18th we had a bottom for Gold. If one misses the March bottom, one usually has to wait for the Summer to see a fresh buying opportunity.
- Silver moving averages have now also confirmed their Golden cross.
- Gold and Silver mines are strong indicating higher prices for Gold and Silver are to come. As a matter of fact, several Gold and Silver stocks have broken above their 200-day moving average.
Updated December 20, 2008
And while the “paper” Silver price was recently nominally taken down from just above $20/oz. to around $13/oz., it is increasingly hard to find physical Silver at any price. And if one can find it, one has to pay as much as $4 or so over the spot, i.e. around $17/oz. on average. Such is the ludicrous result of living in an Interventional Universe.
Manipulation?... The least one can say, is that this is a weird happening.
Last week, widely regarded silver analyst Ted Butler, reported on recent developments during the July 1 – August 5, 2008 time period in the precious metals complex [specifically, open-interest data in COMEX futures].
Butler’s work shows, as of July 1, 2008, two U.S. banks were short 6,199 contracts of COMEX silver (30,995,000 ounces). As of August 5, 2008, two U.S. banks were short 33,805 contracts of COMEX silver (169,025,000 ounces), an increase of more than five-fold. This is the largest such position by U.S. banks I can find in the data, ever. Between July 14 and August 15th, the price of COMEX silver declined from a peak high of $19.55 (basis September) to a low of $12.22 for a decline of 38%.
For gold, 3 U.S. banks held a short position of 7,787 contracts (778,700 ounces) in July, and 3 U.S. banks held a short position of 86,398 contracts (8,639,800 ounces) in August, an eleven-fold increase and coinciding with a gold price decline of more than $150 per ounce. As was the case with silver, this is the largest short position ever by US banks in the data listed on the CFTC’s site. Click here for more.
Updated November 20, 2008 - Time to buy silver!
€ Silver bar monthly & daily charts-: Will the Central banks really succeed in convincing the Herd that it is better to keep Paper Fiat Money and Government bonds instead of Real Money? Do the markets erroneously think we are going for a cycle of DEFLATION? Or is this just a bear trap and an abnormal shakeout of the Bulls? Again, with the actual fundamentals, I cannot imagine we have entered a Bear Market cycle. The daily bar chart shows a nice reversal. Time to buy!
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