Discussion in 'Bullion Investing' started by EdThelorax, Dec 12, 2018.
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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.
They’re out buying gold?
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.
Looks like silver is a bit ahead of the curve. Does that mean it's going to turn down?
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.
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.
How is that working out for you?
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.
Some will see a glass half full while others see it as half empty.
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