Best of the Week
Most Popular
1. US Housing Market House Prices Bull Market Trend Current State - Nadeem_Walayat
2.Gold and Silver End of Week Technical, CoT and Fundamental Status - Gary_Tanashian
3.Stock Market Dow Trend Forecast - April Update - Nadeem_Walayat
4.When Will the Stock Market’s Rally Stop? - Troy_Bombardia
5.Russia and China Intend to Drain the West of Its Gold - MoneyMetals
6.BAIDU (BIDU) - Top 10 Artificial Intelligence Stocks Investing To Profit from AI Mega-trend - Nadeem_Walayat
7.Stop Feeding the Chinese Empire - ‘Belt and Road’ Trojan Horse - Richard_Mills
8.Stock Market US China Trade War Panic! Trend Forecast May 2019 Update - Nadeem_Walayat
9.US China Trade Impasse Threatens US Lithium, Rare Earth Imports - Richard_Mills
10.How to Invest in AI Stocks to Profit from the Machine Intelligence Mega-trend - Nadeem_Walayat
Last 7 days
The Bad News About Record-Low Unemployment - 24th June 19
Stock Market New High, but…! - 24th June 19
Formula for when the Great Stock Market Rally Ends - 24th June 19
How To Time Market Tops and Bottoms - 24th June 19
5 basic tips to help mitigate the vulnerability inherent in email communications - 24th June 19
Will Google AI Kill Us? Man vs Machine Intelligence - 24th June 19
Why are Central Banks Buying Gold and Dumping Dollars? - 23rd June 19
Financial Sector Paints A Clear Picture For Stock Market Trading Profits - 23rd June 19
What You Should Look While Choosing Online Casino - 23rd June 19
INTEL (INTC) Stock Investing to Profit From AI Machine Learning Boom - 22nd June 19
Here’s Why You Should Drive a Piece of Crap Car - 22nd June 19
How Do Stock Prices React to Fed Interest Rate Cuts? - 22nd June 19
Gold Bull Market Breaking Out! - 21st June 19
Post-FOMC Commentary: Delusions of Grandeur - 21st June 19
Gold Scores Gains as Draghi and Powel Grow Concerned - 21st June 19
Potential Upside Targets for Gold Stocks - 21st June 19
Gold Price Trend Forcast to End September 2019 - 21st June 19
The Gold (and Silver) Volcano Is Ready to Erupt - 21st June 19
Fed Leaves Rates Unchanged – Gold & Stocks Rally/Dollar Falls - 21st June 19
Silver Medium-Term Trend Analysis - 20th June 19
Gold Mining Stocks Waiting on This Chart - 20th June 19
A Key Gold Bull Market Signal - 20th June 19
Money Saving Kids Gardening Growing Giant Sunflowers Summer Fun - 20th June 19
Investing in APPLE (AAPL) to Profit From AI Machine Learning Stocks - 20th June 19
Small Cap Stocks May Lead A Market Rally - 20th June 19 -
Interest Rates Square Minus Zero - 20th June 19
Advice for Financing a Luxury Vehicle - 20th June 19
Stock Market Final Blow Off Top Just Hit… Next Week Comes the FIREWORKS - 20th June 19
US Dollar Rallies Off Support But Is This A Top Or Bottom? - 19th June 19
Most Income Investors Are Picking Up Nickels in Front of a Steamroller - 19th June 19
Is the Stock Market’s Volatility About to Spike? - 19th June 19
Facebook's Libra Crypto currency vs Bitcoin: Five Key Differences - 19th June 19
Fed May Trigger Wild Swing In Stock Index and Precious Metals - 19th June 19
How Long Do Land Rover Discovery Sport Brake Pads Last? - 19th June 19
Gold Golden 'Moment of Truth' Is Upon Us: $1,400-Plus or Not? - 18th June 19
Exceptional Times for Gold Warrant Special Attention - 18th June 19
The Stock Market Has Gone Nowhere and Volume is Low. What’s Next - 18th June 19
Silver Long-Term Trend Analysis - 18th June 19
IBM - Watson Deep Learning - AI Stocks Investing - Video - 18th June 19
Investors are Confident, Bullish and Buying Stocks, but… - 18th June 19
Gold and Silver Reversals – Impossible Not to Notice - 18th June 19
S&P 500 Stuck at 2,900, Still No Clear Direction - 17th June 19
Is Boris set to be the next Conservation leader? - 17th June 19
Clock’s Ticking on Your Chance to Profit from the Yield Curve Inversion - 17th June 19
Stock Market Rally Faltering? - 17th June 19
Johnson Vs Gove Tory Leadership Contest Grudge Match Betfair Betting - 17th June 19
Nasdaq Stock Index Prediction System Is Telling Us A Very Different Story - 17th June 19
King Dollar Rides Higher Creating Pressures On Foreign Economies - 17th June 19
Land Rover Discovery Sport Tailgate Not Working Problems Fix (70) - 17th June 19
Stock Market Outlook: is the S&P today just like 2007 or 2016? - 17th June 19

Market Oracle FREE Newsletter

Gold Price Trend Forecast Summer 2019

Is Silver Really a Weak Link

Commodities / Gold and Silver 2016 Feb 03, 2016 - 05:13 PM GMT

By: Submissions

Commodities

Robert Alexander writes: I am not what many consider to be a Perma Gold Bull, but I do expect a 3rd phase of the 2000 Gold run to take place and end in a spectacular blow off top phase. That being the case, I also watch intently when we get these bear market lows for signs of a bigger picture change. Lately I am hearing that “Silver is weak”.  “Silver cant get out of its own way. It is setting up to plunge now.”  I’ve been discussing these lows and successfully trading them for weeks now. Is that the way I see current conditions? Is Silver really the weak link?  Not the way I look at things.  To the charts…


Looking at GOLD first may  help us with Silver

GOLD – 2 charts  –  Chart 1 – Lets take a look at Gold when it bottomed back on December  4th. I identified the lows with a weekly Bullish shake out  ( And a few other daily charts showed further confirmation of lows).

Chart 2 –   As Gold meandered at lows, I constantly heard “Gold is weak . It cant even rally.  We are going to plunge to $1000. I am going short.”   I pointed out that a Triangle was forming at the lows and mentioned how these often deceive people as a weak. They then break out higher  (See the left side of the chart).

GOLD-  It  wasnt ‘weak’, it broke out but Miners broke down. Many said that is very bearish, so…

To add confidence to our recent lows, I pointed out a triangle that I remember trading in 2012. It was VERY TRICKY.  Gold broke out and Silver & Miners broke down, just like in January.  Soon Both ran quickly higher leaving many behind ( Afraid of the weak Gold, Silver,  & Miners).

PLEASE NOTICE THAT GOLD WAS CLIMBING from MAY – AUG.   WHAT WAS SILVER DOING?

SILVER fooled people into thinking that it was “Weak?” Gold was rising in May , June, July, Aug with higher lows , but Silver was not. Notice the triangle though.

SILVER – This is how I was viewing Silver  recently,  while GOLD took off and silver “looked weak” to many.  Did you read that too? In my premium reports, I was saying to expect Silver to POP higher soon.

This is my SILVER chart in my premium report this morning.  Set up to break down?  Weak?

My  Jan 15 chart –  This is why I tell my readers that I think Silver will continue higher.  I use a special indicator that is lining up as expected.  The pattern of Basing & then the  surge happens , even in bear market rallies.  We’re basing,  how about the pop? 

 

GDX Tuesday  –  On day 10 and at resistance,  it is strong but stalled for a moment.  Can it break out?

The possibility of a  bullish GDX break out is helped when we look at other miners.   ABX didn’t hold back at resistance of the 200sma.  

DRD –  See HMY, SBGL also.   Many Miners are moving higher.  Can you imagine this happening in GDX / GDXJ?  It is possible in my humble opinion, when the tide finally turns in phase 3 of the Gold Bull.  Huge % gains will be made by those that know what to look for.

Yesterday I posted the bullish set up in PLM,  after someone asked me to keep an eye on it last fall.

It broke out .  I think it could have a lot more upside, with a possible target  being the former high volume highs getting  tested.

Yesterday when many Miners were selling off a little, we saw another small Junior breaking out over the 200sma.   This is encouraging to the overall big picture. I am starting to wonder how quarterly earnings will be for many miners with OIL & NATGAS  holding at lows for so long now.  Much of the cost of Mining is due to energy –  so low costs can add to their profitability .

MUX – Have you seen this one lately?   It was a BUY at $1.00.  Its at $1.37 today. 

So is SILVER still looking weak and ready to break down to you?   Sure, in these markets anything can happen, so we use stops, but I hope I was able to give you another way of looking at it.  By researching similar chart patterns in the past, we see BULLISH probabilities in Silver .

And what about  that BIG PICTURE?  Is it  shaping up at all or still just looking ugly like an ugly  bear market.

HUI is on support and has been consolidating there for 6  MONTHS.   A break out higher will eventually bring us the best trading that we’ve seen in years.  I have been there in 2000-2008 and 2009 to 2012. Look at  2008 – 2012 on the chart below.    $150 to $630+.   

I believe we are close to some very profitable trading for years to come.   Thanks for being here!

If you think that getting a second set of eyes on the markets would help you with your trading, why not sign up and try it for a month at $37.95?   You get access to all of my past reports and future reports for the month.   I think the 2 weekend reports that I posted this past weekend alone may  have been worth that.  It added confidence in the Silver set up. 

To sign up, click here and scroll down

If you do sign up, I recommend reading the last weekend reports as well as yesterday and today .Thanks for being here!

~ALEX

Source: http://www.chartfreak.com/2016/02/public-report-silver-really-weak-link/

By Robert Alexander

http://www.chartfreak.com

© 2016 Robert Alexander - 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.


© 2005-2019 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