Where will the next main resistance point be?

Discussion in 'General Precious Metals Discussion' started by Yippe-Ki-Ya, Sep 3, 2012.

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  1. Aureus

    Aureus Active Member Silver Stacker

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    Even in an ideal world there are many before you even think about $60 which is nothing but a dream.

    $50 for example is a brick wall for obvious reasons, even looking long term. You break that however and sky's the limit, uncharted territory so setting a resistance point at $60 makes no sense at all.

    Just because people are sheep, it wouldn't surprise me at all to see a parabolic rise the moment it gets over $50... if it does.
     
    Aureus, Sep 5, 2012
    #21
  2. Yippe-Ki-Ya

    Yippe-Ki-Ya New Member

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    we'll see
     
    Yippe-Ki-Ya, Sep 5, 2012
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  3. Aureus

    Aureus Active Member Silver Stacker

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    We will, i'm going to be mighty embarrassed if i'm around to see $51 Silver... and angry too :p

    around the forums that is, I don't doubt it'll happen at some point in my life....
     
    Aureus, Sep 5, 2012
    #23
  4. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    My thoughts exactly. There cannont be technical resistance in uncharted territory.

    I am guessing he means a projected price target, which can be extrapolated from Fib or Gann price projections.
     
    wrcmad, Sep 5, 2012
    #24
  5. thatguy

    thatguy Active Member

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    75
    120
    191
    308
    495
    800

    Sell levels ;)
     
    thatguy, Sep 5, 2012
    #25
  6. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Excellent! I think I'll wait for 800. ;)
     
    wrcmad, Sep 5, 2012
    #26
  7. goldpanner

    goldpanner New Member

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    Well it got to nearly 50 last time so why should there be any resistance up to that point?
    After all, up to $50 is still not an unreasonable price for an ounce of silver in my mind.
    After that of course as Roman said anything is possible but it may not be the parabolic rise everyone expects but a plunge back down due to margin calls etc
     
    goldpanner, Sep 5, 2012
    #27
  8. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Resistance is formed from past price action at certain levels. There will be a number of resistance levels up to $50. Here are a few of the basic levels:

    [​IMG]
     
    wrcmad, Sep 5, 2012
    #28
  9. Guest

    Guest Guest

    Shoot me down but I'm with Yippee and the late B.Chapman.. No resistance at $50!
     
    Guest, Sep 5, 2012
    #29
  10. Guest

    Guest Guest

    ... I'm guessing resistance at $65
     
    Guest, Sep 5, 2012
    #30
  11. SilverTouch

    SilverTouch Active Member Silver Stacker

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    Yes that is very true
     
    SilverTouch, Sep 6, 2012
    #31
  12. grinners

    grinners Active Member Silver Stacker

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    Bump for answers :)
     
    grinners, Sep 6, 2012
    #32
  13. Aureus

    Aureus Active Member Silver Stacker

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    In the 40s
    Depends on what makes it get to that price, if it's going parabolic you'd be an idiot not to sell.
    If it's something big like QE then i'd need to think a little more before going through with it.

    Certainly not sticking around hoping for $51 though, I'm well and truly out before then.
     
    Aureus, Sep 7, 2012
    #33
  14. Aureus

    Aureus Active Member Silver Stacker

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    hehe,
    well I'll put one aside, if we get to $50 you can have it for spot ;)

    Silver at spot, who could say no?
     
    Aureus, Sep 7, 2012
    #34
  15. errol43

    errol43 New Member Silver Stacker

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    Don't count your chickens before they hatch...Even if it does go to 50, there will be several large corrections on the way..That is when you have to have nerves of steel.Goes to 36 back to 35 and up to 37 etc etc.

    Regards Errol 43
     
    errol43, Sep 7, 2012
    #35
  16. grinners

    grinners Active Member Silver Stacker

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    Out of interest, roman, what is your thinking on the potential price of gold? And/Or exit strategy?

    Ever read any Another (Thoughts), FOA or FOFOA?
     
    grinners, Sep 7, 2012
    #36
  17. Aureus

    Aureus Active Member Silver Stacker

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    I think gold is going places, especially long term. I don't view any price as impenetrable. When fiat goes to shit (years off happening but it will) gold will for all intensive purposes be money for smart investors, you could see $3000 or more in 2 or 3 years if the US and Europe don't pull their finger out... me thinks they won't.

    If you invest in the same stuff the big boys do, eventually you're going to do very well. That is where Silver differs, sure the price will move with gold but when push comes to shove I'd rather be in the asset calling the shots.
    Silver is an industrial metal, and I have no faith in industry. It's good up to a point don't get me wrong, you can make very good money from the volatility, but unlike gold when it reaches a point where the price hurts industry profits will fade.

    I like gold looking forward more than Silver but personally I don't think either will trump property as the best investment long term. I value an escape to the country (or out of the country) more than anything.
    That's my feeling looking at the world now, obviously things can change very quickly. Short/mid term I have little confidence either metal will go to new highs, but with the help of inevitable QE who knows, could be completely wrong.
     
    Aureus, Sep 8, 2012
    #37
  18. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    From what i can gather China has been telling porkies. They have been booming on borrowed money, and this is now coming to light.
     
    wrcmad, Sep 8, 2012
    #38
  19. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    "Porkies" :lol: Yeah, except for the odd bottom-up private research, then as per USSR, North Korean, Cuban etc statistics I wouldn't trust much related to their internal dynamics. Trade statistics are obviously robust (as good as any statistic that is) hence that is the real face that we can see - all else could be completely made up for all we know.
     
    bordsilver, Sep 8, 2012
    #39
  20. alor

    alor Well-Known Member Silver Stacker

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    38 & 48
     
    alor, Sep 8, 2012
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