Best of the Week
Most Popular
1. Climate Change Mass Extinction - Birds, Bees and Bugs: Going Going Gone - Richard_Mills
2.A Purrrfect Gold Price Setup! - Peter_Degraaf
3.Who Finances America's Borrowing? Recession Indicator for Independent Thinkers Part 2 - F_F_Wiley
4.America’s One-sided Domestic Financial War - Raymond_Matison
5.Gold Price Summer Doldrums - Zeal_LLC
6.Two Key Events Will Unleash Gold - Jim_Willie_CB
7.Billionaire Schools Teacher in NAFTA Trade Talks - Richard_Mills
8.Get Out Of Crypto Cannabis Bubble Before It Pops and Move Into Bargain Basement Miners - Jeb_Handwerger
9.Stock Market Could Pullback for 1-2 weeks, But Medium Term Bullish - Troy_Bombardia
10.G7 Chaos, Central Banks and US Fed Will Drive Stock Prices This Week - Chris_Vermeulen
Last 7 days
Trumponomics Stock Market 2018 - The Manchurian President (1/2) - 21st Jul 18
The Death of Japan's Real Estate Dream - 21st Jul 18
SMIGGLE Amazing Mega Shopping Haul, Pencil Cases, Smigglets and Giant Back Packs! - 21st Jul 18
Cayton Bay Beach Caravan Park Holiday - What's it Like? - 21st Jul 18
Gold Stocks Investment Wanes - 20th Jul 18
Diversifying Your Stock Investing Strategies is Smart Investing - 20th Jul 18
Custom Global Stock Market Indexes May Be Sounding Alarms - 20th Jul 18
S&P 500 Just 2% Below Record High, But There's More Stock Market Uncertainty - 19th Jul 18
Stock Market Technical Picture - 19th Jul 18
Gold Market Signal vs. Noise - 19th Jul 18
Don’t Get Too Bullish on Gold - 19th Jul 18
Bitcoin Price Rallies to Upper Channel – What Next? - 19th Jul 18
Trump Manchurian President Embarrasses Putin By Farcically Blowing his Russian Agent Cover - 19th Jul 18
The Fonzie–Ponzi Theory of Government Debt: An Update - 19th Jul 18
Will the Fed’s Interest Rate Tightening Trigger Another Financial Crisis? - 18th Jul 18
Stock Market Investor “Buy the Dip” Mentality is Still Strong, Which is Bullish for Stocks - 18th Jul 18
Stock Market Longer-Term Charts Show Incredible Potential - 18th Jul 18
A Better Yield Curve for Predicting the Stock Market is Bullish - 18th Jul 18
U.S. Stock Market Cycles Update - 18th Jul 18
Cayton Bay Hoseasons Caravan Park Holiday Summer 2018 Review - 18th Jul 18
What Did Crude Oil - Platinum Link Tell Us Last Week? - 17th Jul 18
Gold And The Elusive Chase For Profits - 17th Jul 18
Crude Oil May Not Find Support Above $60 This Time - 17th Jul 18
How Crazy It Is to Short Gold with RSI Close to 30 - 16th Jul 18
Markets Pay Attention Moment - China’s Bubble Economy Ripe for Bursting - 16th Jul 18
Stock Market Uptrend Continues, But... - 16th Jul 18
Emerging Markets Could Be Starting A Relief Rally - 16th Jul 18
(Only) a Near-term Stock Market Top? - 16th Jul 18
Trump Fee-Fi-Foe-Fum Declares European Union America's Enemy! - 16th Jul 18

Market Oracle FREE Newsletter

5 "Tells" that the Stock Markets Are About to Reverse

Gold And Silver – Charts Only

Commodities / Gold and Silver 2015 May 31, 2015 - 05:34 PM GMT

By: Michael_Noonan

Commodities

We have a conflict in time, this weekend, so we are presenting charts only, since they provide the best information about what the market is doing, especially when almost all fundamental data has not produced the positive results they appear to indicate.

The fiat Federal Reserve “dollar” remains the antithesis of gold, since the elite’s central bankers do all they can to discredit the metal that makes a lie out of all the fiats issued and without taking responsibility for its ultimate destructive outcome. After all, the sole objective of the elites is to steal as much wealth from the masses as possible during their quest for a New World Order, well on its way.


The chart notes indicate a greater likelihood for another rally higher, and an additional reason comes from the base out of which this fiat paper currency has rallied. You can see how the “dollar” index has been in a base TR since 2006, on this chart, and said base provides the impetus to carry price much higher than has developed, to date.

The demise of the corporate federal government is pretty much a foregone conclusion, but the timing will take much longer than most people believe, as the potential for higher prices show on the charts. For as long as the toxic fiat Federal Reserve Note can prevail, so too will the elite’s fading corporate federal government.

As an aside, the elites could care less about the fate of the US and its population, for it has already moved East, to be covered at a later date. The US has been depleted of all of its wealth. China is now in early process. Where Russia and its vast natural wealth fits in remains to be seen.

The net results of the chart comments is to expect more backing and filling, and we are of the mind that higher fiat prices may been seen, at least until the charts indicate otherwise.

Higher time frame charts are for a truer reflection of market context and direction, for it takes considerably more time and effort to change the direction of monthly, and even higher time frames, to change. Charts can be like a mosaic where you can see something unseen from one viewing to another. We attribute this to the fact that when one makes a presentment of a particular point of view, that view takes on a bias, and that bias will block out information that does not support what is being presented. This point of view may be too in-house, but there is a sound basis for it.

The fact that price has not rallied higher since the December swing low, coupled with a demonstrated inability to break overhead resistance [horizontal line], keeps the December low in question and positioned to be broken. Too soon to tell but something of which to be aware.

One cannot make out of the available information more than what is there. Price is at the lower ranges within a down trend, and also in the middle of a trading range where the level of knowledge is least reliable [because price can continue to move to the upper and lower areas of the TR and not exceed them, thereby staying within the established TR].

Sometimes, all one can do is let the market continue to develop until there is greater clarity for a move, one way or the other. This is one of those times. There is little to be gained from pushing on a string.

The pushing on a string theme is really prevalent throughout the gold/silver charts. There is nothing that indicates a shift from the down trend to one that can and will go higher. Almost everyone’s expectations are for gold and silver to move dramatically higher. The charts do not support that collective opinion, at least not at this time.

The comments made about the fiat Federal Reserve Notes apply here. The expectations for a change in the trend for PMs will take longer than most have expected, a fact we have been pointing out for the past 2 years. One’s belief that gold and silver have to rally to considerably higher price levels is nothing more than a belief about reality, but few take into consideration that a belief about reality does not mean the belief reflects existing reality. The belief is real to the one who maintains it, but it is dysfunctional. The reality is that PMs prices remain low and will likely continue to remain low, at least for now, based on current price behavior patterns.

NMT = Needs More Time. Enough said.

Little can be added to what has already been discussed from previous charts.

By Michael Noonan

http://edgetraderplus.com

Michael Noonan, mn@edgetraderplus.com, is a Chicago-based trader with over 30 years in the business. His sole approach to analysis is derived from developing market pattern behavior, found in the form of Price, Volume, and Time, and it is generated from the best source possible, the market itself.

© 2015 Copyright Michael Noonan - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Michael Noonan Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules