Silver breakout to the topside?

ancona

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I like these long-term trend lines, since I believe that is where the truth of it all lies.

When things go full on hot in both the ME and Eastern Europe, and rest assured they will pretty soon, we'll have the necessary wars for the military industrial complex to supply bombs and weapon systems to. Until shit gets wide spread and shooting hot, expect the cap to remain on this bottle top.
 

MasterQ

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When we went sub 19 I had a feeling it wouldn't last.

I would call that a nice retest of the last 12 months.

Looking for a 20-30% jump from this years lows now.

-Q
 
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ancona

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Interestingly enough, the charge higher seems to be sticking around for Quad Witching today. This would go counter to what we've seen for years now, although trading is just getting going. We'll see.......

Developing.....
 
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DSAbug

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Interestingly enough, the charge higher seems to be sticking around for Qued Witching today. This would go counter to what we've seen for years now, although trading is just getting going. We'll see.......

Developing.....
You've been conditioned to think that way because of the abuse over the past 3+ years. If this was a mid-cycle correction (which i believe to be the case) people are going to be very surprised by the price action over the next 6-18 months and be very disappointed that they didn't act. When guys like Sinclair say things like "1900 by year end", he has historical examples to look back on and not just with gold. The same pattern has occurred with every other asset class.

Just keep stacking..
 

ancona

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Silver is cheap all the way up. When the balloon finally lifts off, it will be like nothing we've ever seen. The great decoupling of the worlds economy from the almighty dollar is now underway, thus, gold and silver will no longer be controlled. When prices start to get real, paper will become meaningless and physical will be all that matters.

I'm certainly no expert, but even a six year old can see the writing on that wall.
 

drAGonfly47

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I will remain endlessly suspicious; inflationary correlation: PM accelerated "dollar value" with dollar collapse intentionally controlled. None of the small investors will be given fluidity or leverage beyond sustainment. Even though such will be an advantage. One I will be appreciative thereof, not gainfully optimistic.
Wishful to some degree, with historic empire crumbling caution. To paraphrase,
the oligarchs have no intention of generosity this time. There is no New World to conquer through occupation, fueled with voluntary fodder.
Prepare for the worst and hope for the best.
Without dochen ownership of asset proclamations here or zerohedge, here or S. America. Have a target, do not BE a target. No offense.

LCS continues to sell junk silver @ spot. Bullion, foreign coin & rounds @ $1 above spot. Eagles $2 - $3 over spot condition measured. They traded @ refinery all scrap gold for silver round payment. Nice BIG boxes of tubes, a buck over spot no tax. Send donations to...
 
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Potemkin

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Gosh, that graph is interesting. I honestly don't know how to read these, but that triangle means we've reached the bottom?

Could the current price increase be the first phase of the next climb?
 

mmerlinn

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Gosh, that graph is interesting. I honestly don't know how to read these, but that triangle means we've reached the bottom?

Could the current price increase be the first phase of the next climb?
It does NOT mean we have reached bottom yet, although we could have. What it does mean is that the downtrend has been broken to the upside with a fairly solid base. Now it is just a matter of time for the bottom to form, then best guess is $100 silver in 2016 or so.

In the meantime your dollar will continue to lose value, probably by half, so based on that the purchasing value at your local stores of $100 silver in 2016 would be the same as $50 silver is today.
 

ancona

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It sure does look like we're being carefully capped under 21. For whatever reason, that seems to be "their" line in the sand.
 

mmerlinn

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As I write this silver is at $19.55, slightly LOWER than the price ($19.58) that is shown at the breakout on the above chart. Lots of support here, so prices MAY stop around $19, however we are entering the weakest point of the year for prices, so $18 or lower is looking more feasible all the time. Regardless. I can't imagine prices staying that low for more than a few months.
 

mmerlinn

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Silver is REALLY looking very WEAK. Not so much by the price (around $17.50 now), but by the price action.

Silver, week over week, has been down now for TEN (10) straight weeks and is on target to be down an eleventh week! That is almost unheard of in ANY market. Seldom do markets exceed 6 weeks down without an intervening week up before going down some more.

I have been watching charts now for about 50 years, and I do not EVER remember seeing ANY commodity going straight down for TEN weeks in a row without an intervening up-week breather!

That, to me, is unprecedented! And very very indicative of a very weak silver market.

This seems to be indicative of silver staying BELOW $19 for the forseeable future. With such a long term week over week downtrend, we could see an explosion to the upside in the near future, but because of the weakness, silver is not likely to go much past the $19 mark to the upside.

Based on this current action, it is extremely possible that we may see TEN DOLLAR silver again in the next few months! Time to make sure your powder is dry should that happen!

Coupled with the weakness in gold, this could spell the end of the endless PM dealers that I see everywhere I go.
 

pmbug

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Oh man. $10 silver? I need to clear out some storage room ...
 

mmerlinn

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It's official. ELEVEN consecutive weeks with a lower weekly close in silver. UNHEARD OF!

Will it make twelve? I doubt it. We have a full fledged bull trap here waiting to catch the bulls unawares. So, I expect silver to now rocket to $19 before going down even more.
 

ancona

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So we're at nearly half a buck up on the day, however we'll need to wait a bit and see if it can hold.
 

pmbug

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Silver dipped under $16 today. Very tempting to make a run to my LCS.
 

ancona

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I already ran to my LCS, and spent all three hundred dollars I scraped together on some generic rounds. I wish I had some more jack, but I have a couple of other things popping, so I need significant reserves for that.
 
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