SILVER PREPARING FOR A BREAKOUT
I’m not sure silver is going to break through major resistance at $18.50 on its first try, but when it does this monster base should produce a huge rally. Maybe even to $25 before the intermediate cycle tops.
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Everything has bottomed. The same forces that are driving silver higher are also driving the stock market, energy, and the entire commodity complex.
Isn’t that a giant Inverse Head-Shoulder pattern formation with the right shoulder yet to be formed!!! If indeed the pattern works out its way then it shall not be a surprise to see Silver near 15 area in coming weeks/months.
Just looks like a monster base to me. When they break out they can go along way.
$15 ha ha ha lol go for it short it. Just like it was going to $10 or was it $5…amazing how clueless most people are..THIS IS INFLATION PEOPLE NOT THE WORLD COMING TO AN END BET THAT YOU ALL ARE LOSING MONEY ON!
We elliott wavers have seen this for a loooong time 😛
From 13th of June:
http://www.tfmetalsreport.com/comment/557015#comment-557015
shit I’m good and humble too 🙂
Not looking good for your stock market crash though…
Gary is right , silver is looking very promising. The Canadian penny stocks are not backing off and that is indicative that there is more to come. One of my biggest holdings is up 150% this morning, (PGC on Toronto exchange),
It’s amazing what gold and silver can do when they don’t have to constantly fight manipulation in the paper markets. There have been no huge dumps since December.
Silver may actually breakout on the first attempt.
been watching silver to base since july 2015. only regret if any is buying on the way up rather than loading up more on my first entry below $14. In ay case silver shall outperform gold on the swing highs in this 8-year cycle.
stay tuned on the juniors and pennies.
seems the targets for silver are now going in the mid twenties in this intermediate cycle swing… also from some different blogs that i have read.
Thanks Gary for sharing. am learning bit by bit reading this blog. : )
TLT is at record highs. The bond market and gold/silver has been the place to be so far this year, not the stock market. I am short TLT and not liking it but as Gary has pointed out more than once, sometimes one has give it a couple of years.
US dollar seems to have begun the rounding off process and headed south …
This just in: Dennis Gartman is selling into the stock rally. Given that clowns’ near perfect record of being wrong, that is very bad news for the bears.
Ditto on Fartman being a perma-wrong clown.
Gary, what is your take on these huge rallies on low volume? Nothing to be concerned about?
that’s another of those old saws that sounds logical but in reality don’t hold up when tested historically.
Many sustainable rallies start and rise on low volume.
New Intermediate cycle in oil confirmed good luck shorting at your own peril…
We haven’t actually broken out to new highs, but I’m going to go ahead and start collecting on all my burrito bets.
Everything is doing exactly as I expected. The Brexit triggered a short term detour but didn’t alter the larger secular trend in anything.
Just picked up some 7/15/16 UVXY $14 Calls for .69
BTW, I consider UXVY a Widow maker.
That said, Calls limit my downside exposure here but with upside reward as some of my price channels are showing that the SPX is near resistance. ?
What Brexit Fears??? FTSE back to prevote highs!!! lol
It is clear that there’s a hidden hand doing lot of the heavy lifting. With all the uncertainties concerning Europe, with Italy’s banking sector about ready to die, with Brexit still the dominant headline of the day, “someone” has decided that they need to save the markets.
I think we are going lower over the longer term, but in a carefully controlled manner. They have to give the participants time to work off and square off their positions, or we’d have a true melt down on our hands.
I think we are going higher over the long term in a carefully controlled manner until it gets away from them and forms the next bubble…
This BREXIT thing is not done yet, there is nervousness around and this BREXIT stuff will hurt many people for YEARS…mark my words.
we will see some selling later in the week. If we do see some sellers come
back it could be VIOLENT selling. We are +115 on TICk = overbought.
Selling is not over yet.
I doubt it in the states it’s a long weekend at the hamptons and well who wants to go on vacation on a sour note… Higher we go.
How much low Silver can come in this week?