Has Silver Done It?
by Nikhil Gupta, Seeking Alpha:
Silver (NYSEARCA: SLV) is up more than 2 percent at $17.545, having crossed the crucial resistance zone of $17.20-$17.40. With this powerful breakout, bulls have made their intentions very clear – silver goes to $18+ levels now.
Barely a couple of weeks ago, I penned an article titled Silver – Bears Are About To Get Mutilated in which I concluded as,
Shorting silver now could prove to be a costly affair as the underlying momentum remains extremely strong. The commodity has crossed the 50-day SMA in a strongly bullish manner.
Silver will likely face some profit-booking or consolidation near the strong resistance zone of $17.410. A close above this level will catapult the precious metal to $18+ in the next few weeks.
This conclusion played out really well in the days following the publication of the linked article as silver did fall to $16.635 but has sharply rebounded.
I now believe that silver will aim for north of $18 on positive undertone. Technical price charts also tell that there is a significant probability of silver amassing more gains in the coming weeks.
The daily silver price chart below gives investors so many important clues to factor into their analysis.
As one can see, silver has formed a classic Inverse Head & Shoulders technical pattern, which is a bullish, reversal pattern indicating that the underlying may head higher. The confirmation of this pattern is taken when the underlying breaches the resistance zone; in silver’s case, it was $17.20-$17.40 which I discussed earlier. If by the end of today’s trading session, silver manages to close above $17.40, it will be a strong evidence of the dominance of the bulls. In such a case, the precious metal should aim to test the downward sloping resistance level of $18.50.
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Whistler Blowers, Insiders
the manipulators can prove you wrong on any given day
Ah….the witchery of richery….
Bullish, or Bullshi_ ?
What does it profit a man to gain the whole world yet lose his own soul?
They’ve gone from the golden calf, through millennia to arrive at the golden bull….
https://cdn.theatlantic.com/assets/media/img/photo/2011/09/occupy-wall-street/o03_57968784/main_1200.jpg
And learned nothing?
/science-and-technology/2014/04/ancient-high-performance-electric-motors-discovered-that-are-still-in-production-2685290.html
/prophecy/2014/06/pole-shift-of-noahs-day-about-to-happen-again-heres-the-evidence-you-decide-2461772.html
Good Journeys
You can’t look at the chart for something like a commodity. Even if you could somehow extrapolate its price, it tells you nothing of its value. Its utility value for technology is unsurpassed. By all fundamentals it should be worth 550 USD/troz. Price manipulation is skewing the price downward.
And then there’s CHINA:
https://www.aliexpress.com/item/90-Silver-Date-1878-1921-P-28Pieces-Morgan-Dollars-copy-coins-Free-Shipping/2036210686.html
If you look on that site they have fake everything: Gold bars, Silver bars, even fake Euro currency notes.
Kind of ties in with the whole story of the tungsten bars plated with Gold from back in 2008, and all the physical vs. paper stock discrepancies discovered for Silver back then.
So at this point the best investment is a PGM testing kit and a 0.01 gram scale.
The answer simply is NO!
While the system continues to be manipulated by the usual suspects, only token rises with their usual associated falls will continue for a while yet until the decision is made to pull the plug on the fiat money system at just the right time and time is near . .