Key Resistance Broken To The Upside

Silver has broke through $35/oz. Gold has broke through $1780.

I think silver has a shot at $50/oz by the end of the year. Gold will take out it's old high of ~$1950. I see gold at $2100/oz by years end. JMHO

 

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Edit :yes:you may be right about that

 

Please keep politics out of here.

In addition, have you ever made a post that actually contributed with a thought or some kind of knowledge about something? If you ask me, it seems all you ever go around doing is posting pictures with stupid statements. 4chan type stuff.

I'd love to see silver move back up and get over $40 again. Think the upward movement has anything to do with the CME lowering margin requirements?

 

In my opinion, it is now coming up to the resistance. It hasn't broken out yet.

 

Agreed. I would want to see it break and sustain above $36 for a few days before I'd consider that to be the case. I think we're near the crest of the last leg down before the next exponential move up starting later this year. My end of year target for silver is $60 (hey David Morgan said so and I happen to agree) but I think the high will be closer to $70 since fibonacci resistance is at $75 once we break the old high at $50. However if it breaks above that $75 with authority then the next level of fibonacci resistance is Hubert Moolman's target of $140. There's really no ceiling above $50 with people trying to sell and break even so anything could happen after that. If you ask me it's a gift to be able to buy at the same prices as a year ago, just like it was a gift to buy at $10 instead of $20 in the 2008 crunch. Percentage wise silver behaves pretty consistently wild.

 

Wow, a little hostile for a friendly board don't you think. I'm sure we are all sorry that we aren't great experts with the world Hanging on our every comment. This board seems to be getting very stuffy for the average collector. There are several posts that people are just being attacked by the goons.

Sent from my SGH-T989 using Tapatalk

 

Don't call me a goon, please.

If you don't have anything to contribute to the thread, you shouldn't bother posting,
Edited as direct personal comment on member.

If you want to know the actual term for that, just google the definition below...


Courtesy of UrbanDictionary;

1. Someone who posts on an online forum just for the sake of posting. He or she doesn't have to have any relevant or complete thought to post. As long as the post count goes up, he or she is happy.

 

hold on to your hats- this sucker is about to explode

 

The problem I see with this is who is the Forum King who gets to decide which post is a "relevant or complete thought"? That's the sticky wicket, right? I mean, if I post I question the predictive model of market resistance levels cited by Inflexion, would that be "relevant"? If I correct an assertion someone makes in another post is that "relevant"? If I simply say I agree or disagree is that "relevant"?

Its a tough call sir, when you get to the details, right? I mean, of course there are people who will post "I love pizza!" for no reason, and there are others like Desertgem, Cloud, Inflexion, and Fatima who at times will post very informative posts. In between, though, is a whole array of posts of varying qualitative value depending on your perspective.

I guess I am not one to say I have a right to make those decisions on who is "valuable" and who isn't. Maybe because there are probably a few here who view every post of mine as not "valuable". In your mind who IS or SHOULD BE the one who has such Solomenic knowledge to make such judgments? Doug?

Chris

 

Are you referring to silver or this topic? LOL

On the latter, I wish people would stick to the topic at hand instead of derailing posts with nonsense, off-topic postings and opinions of other forumers. It shouldn't be that hard or complicated for adults to work out.

On the former, I'd say give it until March 1st. It will be clear enough then to see if another fleecing of silver longs is getting ready to take place or not.

 

I feel (IMO) that thoughts that PM is breaking out due to their intrinsic value ( supply/demand , etc) are premature and unsubstantiated in view of world politics ( which I will not list, but hopefully everyone reads daily). If it was somewhat a peaceful world, PM would be sinking with the improvement of the Euro and still the USD and associated stock investments here and Europe. The Euro is currently outperforming the USD, so the EUO/USD ratio causes a decrease in the USD, and commodities denominated with it will tend to increase, which is what is happening. But if the Euro hadn't been so suppressed by their own politics so much, the gain wouldn't have been as apparent. You can confirm this by observing the ratio of both the USD and the Euro vs. other world currencies. Obviously world tension aggravates this situation. Most people with large amount of holdings to preserve are moving into Euros and USD, and a few other strong currencies rather than PM, because you can go in or out in seconds for multimillion dollar exchanges with small bid/ask premiums. Not true with PM. Forex trading is scary and not to be done by an amateur like myself, but it does link strongly with PM prices, and observing such can help explain prices.

I would love to see gold go to $2000 by the end of summer, and it could, but these gains in one's wealth could well be lost due to higher commodity prices during the same time for some. So this might be what some have saved PM for, to sell and use to buy gas and food and other needs. IMO.
Jim

 

Watch for QE3 or trouble in Europe's bailouts and this heavy turkey could lift off over 1900.

Funny thing though premiums on $20s is not changing much. I traded a type I $20 in XF45 for a 1907 $20 in MS61 PCGS OH, plus $115 the other day. I guess I made the right move.

 

But if the Europe bailout runs into trouble, and the Euro goes down, wouldn't that strengthen the dollar and lower PM prices like Jim explains above? I agree with Jim that FOREX is moving this market much more than many give it credit for, up and down.

 

I'm hoping for $33.87 Silver price on the 18th of march just so I can win JCB's contest :devil:

 

IMO, Yes, and I think it is very possible. I still have the Euro shorted until may, but I am under at this point. It was done to protect my other interests, esp. PM, if the Euro does sink due to Euro nations politics. I hate to buy insurance for anything, but there are logical reasons. A petroleum expert today said that about 15% of the price of oil ( and thus gas) was due to political uncertainties, as the world demand has dropped over the past quarter. If most "NEEDED" to buy commodity products ( and most of us do) , and was limited to cash flow, I would think about using some of my bullion, as if things reverse and oil goes under a $100, most likely PM will drop, and supply can be regenerated from the savings.

But if I was so clairvoyant, I probably would miss the fun and excitement of life.
​

 

Europe's bailout is in trouble. To put it in simple terms, a debt problem can't be fixed by creating more debt. This is what they are doing.

 

It'd be nice if it could drop back to $30 for the moment, then rocket back up. anyone with input as to how it will procede from here? seems to have stopped jumping for the moment.

 

Neither does extreme austerity fix an overwhelming debt problem.

 

Aye, but this has been the modus operandi for 40+ years. Debt must grow exponentially in order to keep paying off the existing debt when spending is not curbed. This most recent Greek bailout deal finally detailed what I've been expecting - pay the debt or give up the gold. Default is being expected March 20 or March 23 depending on who you source, probably finally in the cards now that the gold is on the line. :/ Although if there is an actual default and not a haircut then I would not look to the USD as being the beneficiary in a global financial liquidity crunch. My gut says it will be a haircut because otherwise things get ugly.