Message:

<p>[QUOTE=&quot;InfleXion, post: 1644603, member: 29012&quot;]Silver may be dipping a bit, but for now I don&#039;t see it breaking below the 2008 QE1 trendline which it is right at the bottom of. Gold&#039;s resilience above 1600 seems to indicate we are bottoming. A good buying opportunity IMO as long as these don&#039;t break down.</p><p><br /></p><p><img src="http://www.bitboar.com/img/5_year_gold.png" class="bbCodeImage wysiwygImage" alt="" unselectable="on" /></p><p><br /></p><p>Basically, gold wedged from 2011-2012 and then broke out above (bullish), former resistance became support (bullish), and we have recently had a series of lower highs and lower lows (bearish).</p><p><br /></p><p>The ~1600 mark is the area where the breakout will be shown as either a success or a failure depending on if it holds. If gold holds then silver should too. If not then we may be in for a real nice discount.</p><p><br /></p><p>The exchanges have the rest of the week before the Chinese will be back and if they can cause technical selling on a breakdown this would be the time to attempt it. I&#039;m not sure why they&#039;d want to deplete their silver supply any more quickly though. If they are smart they will keep the price where it is and extend their ability to deliver.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in