This time its different. Silver to $40+

Discussion in 'Silver' started by President Trump, Jun 23, 2020.

  1. President Trump

    President Trump Active Member Silver Stacker

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    Last Tuesday silver was at 17.86 which is exactly where it is today one week later. Fundamentals are the same. The chart looks to be consolidating at a pivot.
    Its an awesome hobby but here I'll be talking about price direction.
     
  2. Tokyo

    Tokyo Active Member

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    Big fib level coming up at $20.50-21 in US dollar and realistic 61% pullback level of $31 next for major test. Take a look at daily/weekly 150/200 MA also add 200 EMA you see something very interesting.
     
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  3. President Trump

    President Trump Active Member Silver Stacker

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    I see all the longer term moving averages on the daily and weekly going parallel and converging. The 50DSMA has crossed higher the 200DEMA and 150DSMA. It is about to cross the 200DSMA on the daily. But this has not always been a good signal in the past. But I see what you are talking about on the weekly chart. The 50WSMA has crossed all of the long term MAs. The last time that this happened was towards the end of 2009 just before the run from $14.66 to $50.
    But for me anyway, it is the very similar fundamental outlook to 2009 that makes me think silver prices are going up. The huge spike down and retracement back up also add weight to the buying pressure picture.
    I am talking about probability only and only over the longer term 6 months+.
     
    Last edited: Jul 3, 2020
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  4. Tokyo

    Tokyo Active Member

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    All good Everybody has different idea and tools to analyze, I have been posting my view about ratio also from Fibonacci view Feel free to check them out
     
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  5. Tokyo

    Tokyo Active Member

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    Level to upside i have 21/31/80/120-140 if start bull move Should target one of this Fibonacci expansion level. In my view
     
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  6. rainy day

    rainy day Member

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    The world is descending into absolute corruption and madness. Very quickly.
     
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  7. Jason1

    Jason1 Well-Known Member

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    I wouldnt ever want to try and predict when silver hits those levels again, but it will but i dont pretend to know when lol.
    And when it does just like last time, the minute it hits those heights ill be a Few thousand ounces of silver lighter, but then like last time holding money waiting for the next big plumet Lol.
    Point is, if you see those heights do either of two things, 1 sell it all or 2 buy my stack as ill happily sell it all to you lol.
    Silver can and does get that high, but silver does not stay that high.
     
  8. Slimey

    Slimey Well-Known Member

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    Those are years before the next move up right?
     
  9. Tokyo

    Tokyo Active Member

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    never try predict market and tools isn’t crystal ball. I’m sure most people know that about technicals , my part of work is to point out next level of resistance/support . Silver wants to test 20.50-21 important 23% fib then we can talk next potential resistance.
    Let it play out & watch price action at key level
    I’m not sure about timeline but price always backtest key zone with noticeable price action volume.
     
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  10. sgbuyer

    sgbuyer Well-Known Member Silver Stacker

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    While silver will be breaking out in a matter of time, I still think there will be a deflationary event probably arising from an EM issue later this year.
     
  11. heartastack

    heartastack Well-Known Member Silver Stacker

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    I see how you got your name :D
     
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  12. Davros10

    Davros10 Well-Known Member Silver Stacker

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    I think the world is waking up and discovering absolute corruption and madness. Very quickly.
     
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  13. JohnnyBravo300

    JohnnyBravo300 Well-Known Member

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    I picked up 3 peace dollars today for spot and a 10 oz a-mark bar for $200 at my lcs today.
    He didnt have much in stock.
     
  14. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

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    Silver to $50+ usd before end of year.
     
  15. President Trump

    President Trump Active Member Silver Stacker

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    I know you mean “usually“ not “always” but it’s worth pointing out that when market positioning is lopsided (and wrong) moves can occur without a retest. A mixture of short covering and new longs can push prices up very sharply and without respite. Silver has burned a lot of longs in the last decade. You can see it in the manipulation beliefs that are everywhere. It has been easy for the shorts to slap down the longs. But the recent spike low recovery suggests to me that these days may be over. It’s been a good trade to short silver on any attempt to rally over the last 6 years, so that will continue to attract a lot of shorts as we move higher. They will all become buyers if they need to cover as a result of fundamentals pushing silver higher for the first time in a long time.
     
    Last edited: Jul 3, 2020
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  16. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Rough nuggets..... arrrrggghhhhh!
     
  17. Slimey

    Slimey Well-Known Member

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    I believe that this will be the reason why the bull run in silver will be missed by so many. Once bitten, twice shy...I think actually it is about 10th time bitten....and it is not about being shy now...more like a pathological fear....
     
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  18. Sawman

    Sawman New Member

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    I wish silver would hit USD 30 or 40 - got too much of it that owes me a decent return - but I think USD 20 tops and not hopeful it'll get there. Gold and cryptocurrencies (mostly BitCoin) have proven to be the preferred investments to hedge stock and currency markets.
     
  19. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    At the moment the world is in a turbulent transition state like a colloidal solution being stirred, there is no way to tell when the solution will suddenly chose a new state and stabilise into a gel. Metals could just as easily become ignored by the public as an irrelevancy from the past rather than as a safe haven. One of the most dangerous things about the current situation is that there is a purge of traditional values and an erasing of history underway, metals could easily lose their lustre, especially with the digitally obsessed “screen generation” who may simply ignore them.
     
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  20. President Trump

    President Trump Active Member Silver Stacker

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    ...so I take the red pill and discover that shiny metal is just rock no more valuable then a piece of code or a piece of paper and that the only things that have value are those with real utility and those that people choose to assign value. I can see that we have to assign value to something so that we can easily exchange wealth and store that value. I realise that at its core our monetary system is still only one step beyond a barter system, but our clay tablets and cowrie shells are now paper money. As the pills effect grows stronger, I see that what I think of as paper money sitting in a bank vault, has long ago become code in a big accounting system. I can see that the pile represented by the code keeps growing but my share of it becomes ever less. I can also see why I accept this; the government is behind it, and with all its failings, I can see the elected government with its wealth and power is the best bet to a) protect the value of the code and b) control the banks. Crypto emerges it is just another code but the amount of it is limited and no-one is in control. This is attractive. But I have taken the red pill, and I can see the government provides the services that society needs and it has to fund itself and to do so it must be in control of the tax and monetary system. This control is not something they will let go. But the people (particularly the younger generations) want cryto and it is given to them. Paper money is dead and yet this crypto is a government controlled system and it does not contain the benefits listed on the can. The people have taken the blue pill so they are happy. Another liberty has been taken away, cash is gone and extra data on earnings, spending, social security and so many other aspects of our daily lives is now in the hands of the government. Satoshi Nakamoto (who has also taken the red pill) palms his face, he was trying to do the opposite.

    To end the story. Some other cryptocurrencies not backed by the government continue to exist but these activities are illegal as are the large coin mining operations which have now been shut down. Gold and Silver? Sorry I'll need to continue this bedtime story later.
     
    Last edited: Jul 5, 2020
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