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DrStool

Support Holds. Hourly Indicators Bullish Again 7/27/20

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And that's a fail and trend break on NY open, with hourly indicators edging to the sell side. To be valid, this needs to stick until 10 AM. An hourly close below 3208 would set up a nice little top pattern in a broader downtrend channel that started Friday. Note that 3 day and 5 day cycle lows are due today. Could come at any time. 

tvc_a2fd255a5c4aa6c852826af331bca3e1.png

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My neck is killing me. 

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Goaltending! No basket. 

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Whiplash! The early selling was a shakeout. At the close of the hour we have a breakout from an hourly base pattern that measures to 3260. The 2-3 day cycle projection is a little less ebullient, pointing to 3235.

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Panic run on Silver where will it end $25-$26?.

Is there any  interest in Gold forum?

 

 

 

 

Silver panic.png

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1 hour ago, jp6 said:

Panic run on Silver where will it end $25-$26?.

Is there any  interest in Gold forum?

 

 

 

 

Silver panic.png

I do not go to the gold forum much. I can tell you silver supplies are very tight and premiums are going up on the wholesale level. High lease rates are making silver production very expensive.  I think we could see a delivery failure from the retail dealer community, they may be selling forward a lot of product that simply is not able to be made.  Retail dealers continue to fleece the public by collecting outrageous premiums. I have been saying for a very long time, if the dollar sees real weakness it will show up and be lead by higher commodities.  Fintwit is scratching their heads about the dollar weakness and asking why strength in the Euro. This dollar weakness may simply be showing the herd shifting back to home currencies and away from carry trades. The dollar system could very well be unwinding in front of our eyes yet few believe it (milkshake theory). I have read so many gold experts talk about being bullish for the long term but waiting for the pullback to buy, That was all the way back at 1250 gold. Most experts threw silver into the toilet.  

Many traders have been selling all the way up expecting a top, however, this has the look of the beginning of major inflation headed our way. This may be the time to hold and not trade. It is very tempting to take a profit, the hard part will be to hold through the volatility.

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6 minutes ago, potatohead said:

I do not go to the gold forum much. I can tell you silver supplies are very tight and premiums are going up on the wholesale level. High lease rates are making silver production very expensive.  I think we could see a delivery failure from the retail dealer community, they may be selling forward a lot of product that simply is not able to be made.  Retail dealers continue to fleece the public by collecting outrageous premiums. I have been saying for a very long time, if the dollar sees real weakness it will show up and be lead by higher commodities.  Fintwit is scratching their heads about the dollar weakness and asking why strength in the Euro. This dollar weakness may simply be showing the herd shifting back to home currencies and away from carry trades. The dollar system could very well be unwinding in front of our eyes yet few believe it (milkshake theory). I have read so many gold experts talk about being bullish for the long term but waiting for the pullback to buy, That was all the way back at 1250 gold. Most experts threw silver into the toilet.  

Many traders have been selling all the way up expecting a top, however, this has the look of the beginning of major inflation headed our way. This may be the time to hold and not trade. It is very tempting to take a profit, the hard part will be to hold through the volatility.

There isn't going to big pull back in Gold. I have feeling that 2001 is playing out again.  easy 20-30 Baggers in mining space.  already have 10 Baggers. There is no incentive to Buy Bond unless it's with leverage. Gold is an Easy trade

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9 minutes ago, jp6 said:

There isn't going to big pull back in Gold. I have feeling that 2001 is playing out again.  easy 20-30 Baggers in mining space.  already have 10 Baggers. There is no incentive to Buy Bond unless it's with leverage. Gold is an Easy trade

I agree. Feels like the walls are closing in with regard to investment selection and risk/reward analysis. The milkshake theory was created as a way to explain the poor performance in gold and strength in the dollar from 2011-2019. Many gold bulls/investors started to believe the theory and diversified more into dollars/bonds. This is exactly the ingredients the precious metals market needed to create the wall of worry and begin to rise.  

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USD weakness is a confidence meter in the US govt as capital flees what is beginning to be seen as a banana republic that can't manage its affairs.

Putin hired Trump to destroy the US, and the plan is working.  The authoritarians are winning. It's now up to the Wall of Moms and Wall of Dads with leaf blowers to save our ass.  

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54 minutes ago, DrStool said:

USD weakness is a confidence meter in the US govt as capital flees what is beginning to be seen as a banana republic that can't manage its affairs.

Putin hired Trump to destroy the US, and the plan is working.  The authoritarians are winning. It's now up to the Wall of Moms and Wall of Dads with leaf blowers to save our ass.  

I just believe in Cycles and the news comes after. Central bankers were buying Gold and were not interested in USB. Now we see it chart clearly. Bearish Diamond Top in USD which I posted here. usd.thumb.png.b774fea90ba41379bba03c1c1889c4fe.png

 

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Here is Another Chart that says Top In US Market isn't far away. Drop will come then the News

577473326_Markettop.PNG.3c673aab1ff88012a6fb6d909517fa2b.PNG

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4 hours ago, BurntOnce said:

remember our fair stock, CDE?

I remember that stock, hasn't done well. there were some other south African miners, people here were crazy about

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