Gold and Silver charts

Discussion in 'Bullion Investing' started by EdThelorax, Dec 12, 2018.

  1. EdThelorax

    EdThelorax Well-Known Member

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  3. EdThelorax

    EdThelorax Well-Known Member

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  4. EdThelorax

    EdThelorax Well-Known Member

    Where did the trolls go? What am I not enough fun to play with? This LT (long term) bull flag pattern should bring them back from under the bridge.
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    longarm and CasualAg$ like this.
  5. CasualAg$

    CasualAg$ Corvid Minions Collecting

    They’re out buying gold?
     
    EdThelorax likes this.
  6. EdThelorax

    EdThelorax Well-Known Member

  7. EdThelorax

    EdThelorax Well-Known Member

  8. EdThelorax

    EdThelorax Well-Known Member

    Next one.
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  9. EdThelorax

    EdThelorax Well-Known Member

    When the 50 Day Moving Average (blue) crosses up though the 200DMA(red), it is called a Golden cross. It is a bullish indicator. The opposite is called a death cross. 3 of each are shown here.
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  10. EdThelorax

    EdThelorax Well-Known Member

  11. Revi

    Revi Mildly numismatic

    Looks like silver is a bit ahead of the curve. Does that mean it's going to turn down?
     
  12. EdThelorax

    EdThelorax Well-Known Member

    Actually, silver has been lagging gold for years now as can be seen in the gold to silver ratio. There is a thread here on CT called
    TRYING TO "Play the GSR" -- HORRIBLE IDEA
    I believe this ration topped last year and will continue lower as metals increase in price.
    If you are referring to the red and blue Daily Moving Averages, you can see they are about to make a "golden cross" where the 50DMA (blue) is about to go up through the 200DMA (red)
    This is a bullish signal, you can see what gold has done since it's golden cross in the chart below. As a general rule, as long as price is above the 50DMA, it should continue higher.

    As to if silver is going to turn down, no one knows. You can increase the odds of being right about that call by charting. Which time frame you chart in will yield different results. On short timeframes the charts are less accurate. On the longer timeframes, silver appears to have bottomed and has a lot of room to increase in price.

    The first chart shows gold hit the target in green from my previous post. It also has broken the long term downtrend line in blue which I will show better in the 2nd chart. This is a VERY important sign. The silver chart shows the long term trendline in blue, several types in medium timeframe are pink and a shorter in green.


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    Phil Ham likes this.
  13. EdThelorax

    EdThelorax Well-Known Member

  14. EdThelorax

    EdThelorax Well-Known Member

    When the 50 Day Moving Average (DMA) the blue line, moves above the 200DMA (red line) it is called a Golden Cross.
    This is a very bullish sign. As long as price remains above the 200DMA silver is a very strong buy.
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  15. EdThelorax

    EdThelorax Well-Known Member

  16. EdThelorax

    EdThelorax Well-Known Member

    How is that working out for you?
     
  17. John Skelton

    John Skelton Morgan man!

    It doesn't, but at least I got straight answers. Then my wife trashed it because she claims I was dealing with the dark side. Just like I think I saw a pentagram in one of your charts.
     
  18. EdThelorax

    EdThelorax Well-Known Member

    Some will see a glass half full while others see it as half empty.
     
  19. EdThelorax

    EdThelorax Well-Known Member

  20. EdThelorax

    EdThelorax Well-Known Member

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    Last edited: Apr 10, 2019
  21. EdThelorax

    EdThelorax Well-Known Member

    This is called a break-out. Silver is now above the magenta line drawn from the 2011 highs to the top of the Feb.2019 high.

    The 50DayMovingAverage (DMA) in Blue will soon cross the 200DMA in red. This is called a "Golden cross" even though this is a silver chart.
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    You can see the price of gold appreciate after it's golden cross.
    The current pattern is called a bull flag or bull pennant. The move up should be about the same as the "pole" of the flag giving a target of $1550ish.
    These patterns do NOT mean gold WILL go higher. If gold does go higher, I am not saying that target WILL be reached.

    Think of it as a bell curve of probability with the apex being at a target.
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