Best of the Week
Most Popular
1.Canada Real Estate Bubble - Harry_Dent
2.UK House Prices ‘On Brink’ Of Massive 40% Collapse - GoldCore
3.Best Cash ISA for Soaring Inflation, Kent Reliance Illustrates the Great ISA Rip Off - Nadeem_Walayat
4.Understanding true money, Pound Sterling must make another historic low, Euro and Gold outlook! - Marc_Horn
5.5 Maps That Explain The Modern Middle East - GEORGE FRIEDMAN
6.Gold Back With A Vengeance As Bitcoin Bubble Bursts - OilPrice_Com
7.Gold Summer Doldrums - Zeal_LLC
8.Crude Oil Trade & Nasdaq QQQ Update - Plunger
9.Gold And Silver – Why No Rally? Lies, Lies, And More Lies - Michael_Noonan
10.UK Election 2017 Disaster, Fake BrExit Chaos, Forecasting Lessons for Next Time - Nadeem_Walayat
Last 7 days
Reconciling the US Dollar Outlook with the Super Bullish Gold and Silver COTs - 26th Jul 17
Last Week’s Rally in Gold Stocks Erased - 26th Jul 17
Dollar, Bitcoin, Markets - Is There A New Flight To Safety? - 26th Jul 17
Central Banks ARE The Crisis - 26th Jul 17
Iran: Public Image Versus Historical Reality - Part 1: An Abridged History to the 20th Century - 26th Jul 17
Trump Fails To Understand One Critical Thing—Our Trade Partners Have Options, Too - 26th Jul 17
Stock Market and Gold Stocks Trend Forecast Update - 25th Jul 17
Saving Illinois: Getting More Bang for Its Bucks - 24th Jul 17
3 Stocks Sectors That Will Win in The Fed’s Great Balance-Sheet Unwind - 24th Jul 17
Activist Investors Are Taking Over Wall Street, Procter and Gamble Might Never Remain the Same - 24th Jul 17
Stock Market Still on Track - 24th Jul 17
Last Chance For US Dollar To Rally - 24th Jul 17
UK House Prices Momentum Crash Warns of 2017 Bear Market - Video - 22nd Jul 17
Crude Oil, Gold, ETFs & more: Pro-grade Market Forecasts - 22nd Jul 17
Warning: The Fed Is Preparing to Crash the Financial System Again - 21st Jul 17
Gold / Silver Shorts Extreme - 21st Jul 17
GBP/USD Bearish Factors - 21st Jul 17
Gold Hedges Against Currency Devaluation and Cost Of Fuel, Food, Beer and Housing - 21st Jul 17
Is It Worth Investing in Palladium? - 21st Jul 17
UK House Prices Momentum Crash Threatens Mini Bear Market 2017 - 21st Jul 17
The Fed May Show Trump No Love - 20th Jul 17
The 3 Best Asset Classes To Brace Your Portfolio For The Next Financial Crisis - 20th Jul 17
Gold Stocks and Bonds - Preparing for THE Bottom - 20th Jul 17
Millennials Can Punt On Bitcoin, Own Safe Haven Gold For Long Term - 20th Jul 17
Trump Has Found A Loophole To Rewrite Trade Agreements Without Anyone’s Permission - 20th Jul 17
Basic Materials and Commodities Analysis and Trend Forecasts - 20th Jul 17
Bitcoin PullBack Is Over (For Now): Cryptocurrencies Gain Nearly A 50% In Last 48 Hours - 19th Jul 17
AAPL's 6% June slide - When Prices Are Falling, TWO Numbers Matter Most - 19th Jul 17
Discover Why A Major American Revolution Is Brewing - 19th Jul 17
iGaming – Stock Prices - 19th Jul 17
The Socionomic Theory of Finance By Robert Prechter - Book Review - 18th Jul 17
Ethereum Versus Bitcoin – Which Cryptocurrency Will Win The War? - 18th Jul 17
Accepting a Society of Government Tyranny - 18th Jul 17
Gold Cheaper Than Buying Greek Villas in 2012 - 18th Jul 17
Why & How to Hedge the Growing Risks of Holding Stocks - 18th Jul 17
Relocation: Everything You Need to do for a Smooth Transition Abroad - 17th Jul 17
A Former Lehman Brothers Trader: It’s Time To Buy Brick And Mortar Retailers - 17th Jul 17
Bank Of England Warns “Bigger Systemic Risk” Now Than 2008 - 17th Jul 17
Bitcoin Price “Deja Vu” Corrective Sequence - 17th Jul 17
Charting New Low in Speculation in Gold and Silver Markets - 17th Jul 17
Bitcoin Crash - Is This The End of Cryptocurrencies? - 17th Jul 17
The Fed's Inflation Nightmare Scenario - 17th Jul 17
Billionaire Investors Backing A Marijuana Boom In 2017 - 17th Jul 17
Perfect Storm - This Fourth Turning has Over a Decade of Continuous Storms to Come - 17th Jul 17
Gold and Silver Biggest Opportunity Since Late 2015, Last Chance at These Prices - 17th Jul 17
Stock Market More to Go - 17th Jul 17
Emerging Markets & Basic Materials Stocks Breaking Out Together - 16th Jul 17
Stock Market SPX Uptrending Again After Microscopic Correction - 15th Jul 17

Market Oracle FREE Newsletter

Crude Oil, Gold, ETFs & more: Pro-grade Market Forecasts

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

© 2005-2017 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

Catching a Falling Financial Knife