Silver Consolidation Level?

I think a number of entities are taking there profits, and yes it will be ineresting to see where it stops at.

 

Silver heading back down to the 2nd consolidation level now. A couple of bounces off the $16.20 USD region will be a good buy signal for me from here

 

Silver bounced off $16 USD and back up to $16.40 now. Maybe some more consolidation at this level would be ideal, but that's good enough for me. I'm going long again

 

Silver has had another amazing run but it needs to consolidate again. I've sold my paper position at $19 USD. Reckon silver might be up for some profit taking on Friday afternoon ahead of the weekend.

Question is where would the consolidation level be this time? Maybe $18.50 or $18 will be consolidation levels I'll be looking for before going long again.

 

http://kingworldnews.com/is-the-price-of-silver-really-headed-to-a-jaw-dropping-690/

just came across this, we can only dream, but it would be very nice.

 

^^ - Just don't hold your breath while you wait!

Will its risen to over USD$19.30. I would expect a pull back before $20. Volume is rising and it looks to be over bought

Nice cup& handle formation prior to the run up, too.
http://stockcharts.com/h-sc/ui?s=$silver

 

Let's find out

 

I expect a pullback but I'm accumulating physical. Will expect well over $20 by years end.

Think brexit for almost every western nation on earth. Populism is cornering the vote market.

Election tomorrow sees polls in Australia saying up to 25% of voters are turning from two party preferred, even if it's 20% that's the most non-major party vote since the inception of the two party system.

We're going to see this "Oh dear and look how the market is reacting" for every election around the world this year - not least of all will be the USA no matter who wins it.
Trump wins = newcomer - speculation on things getting messed up.
Hillary wins = QEINFINITE - speculation on turning into venezuela.

I see no upside there for the market.

 

Turnbull will get in. Stability will be felt in AU and the POS in AUD will fall.

The weekend is upon us. Market are closing, people will take profits and sell over-bought assets. POS will fall.

I reckon there is downward pressure building into the NY close.

 

Where do we stand for a rate cut on tuesday?

 

Very unlikely. Markets say 95% chance of no change to the interest rate.

We might get a slight bump in the AUD when the Liberals win the election over the weekend. So along with expected profit taking in Silver market tonight I think we'll be due for a bit of pullback and consolidation in price.

 

Fuck the liberals. Dogs.