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<p>[QUOTE="NorthKorea, post: 1272150, member: 29643"]Silver seems to be in contango once again, as short term lease rates are negative. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" /></p><p><br /></p><p>It's below the 200 dma, so there will be two major forces driving down silver prices until probably mid-November:</p><p><br /></p><p>1) Chinese margin from 10/11 days ago.</p><p>2) Speculators who are technically trading silver.</p><p><br /></p><p>$36 will now be the "ceiling" for silver from a technical standpoint, with the "falling knife" in effect to the downside.</p><p><br /></p><p>Silver STILL has a $27 intrinsic value, with a $24 minimum production value. With basically every country (the exception being Japan) positioning their reserves in line with "strong dollar" policies, we might even see slight deflationary pressure against the intrinsic value.</p><p><br /></p><p>With copper prices shocked down and the base metals all on the rise, it's possible that technical money may even choose to trade into base metals, which would put further dampening on the demand for silver.</p><p><br /></p><p>We may see what appears to be stabilization in silver, but the technical traders will establish downward pressure on the metal until base metals indicate that we're into a period of inflationary growth.</p><p><br /></p><p>I would say those looking to acquire silver can expect one or two more shocks, with the bottom coming at $26.73. This means there may be some trades that get in below this price, but the $26.73 will be a supporting price. If this is breached, and we see a close below this value, it's possible (though unlikely) that silver will retrace to the $22.85 range.</p><p><br /></p><p>I would start acquiring at any price below $27. You haven't missed the bottom.[/QUOTE]</p><p><br /></p>
[QUOTE="NorthKorea, post: 1272150, member: 29643"]Silver seems to be in contango once again, as short term lease rates are negative. ;) It's below the 200 dma, so there will be two major forces driving down silver prices until probably mid-November: 1) Chinese margin from 10/11 days ago. 2) Speculators who are technically trading silver. $36 will now be the "ceiling" for silver from a technical standpoint, with the "falling knife" in effect to the downside. Silver STILL has a $27 intrinsic value, with a $24 minimum production value. With basically every country (the exception being Japan) positioning their reserves in line with "strong dollar" policies, we might even see slight deflationary pressure against the intrinsic value. With copper prices shocked down and the base metals all on the rise, it's possible that technical money may even choose to trade into base metals, which would put further dampening on the demand for silver. We may see what appears to be stabilization in silver, but the technical traders will establish downward pressure on the metal until base metals indicate that we're into a period of inflationary growth. I would say those looking to acquire silver can expect one or two more shocks, with the bottom coming at $26.73. This means there may be some trades that get in below this price, but the $26.73 will be a supporting price. If this is breached, and we see a close below this value, it's possible (though unlikely) that silver will retrace to the $22.85 range. I would start acquiring at any price below $27. You haven't missed the bottom.[/QUOTE]
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