Where will the next main resistance point be?

For gold it looks like $2200 and for silver $60.

That would bring down the GSR to 37. Those wanting to own mostly gold should therefore get as much silver now as possible, including swapping their gold out for silver...

 

where do you get your figures from?

 

Yippie did you just make that up to spark conversation?

 

I have a mate who is a guru in technical analysis...

I haven't thought much of what he has told me in the past as i don't much believe in this panzie stuff.

However, now that the predictions he made to me a couple of months ago have come to fruition he has earned my respect!

 

I'm thinking we will have consolidation $33-$35 and $36 is the next big resistance point. I don't follow Gold enough to comment on that.

The great thing that I mentioned before though is with the Aussie dollar sure to fall for the rest of the year then we get double gains on the way up, some gains during a consolidation period and a very very soft fall during a pullback. Metals don't only protect your wealth but they are a great hedge against a falling currency.

 

I'm being an a-hole, but is this guy the opposite of you?

 

:lol:

Yippee, I am glad to see you can open your mind up a little.

Do you call all your mates panzies? Is this your term of endearment?

 

i think you know the answer to that

 

1750-1760 for gold, 33.50 for silver.

 

I think the resistance point will be at the retail store!...

 

^ the fundamentals don't look good for the AUD in my opinion, but this talk of Chinese stimulus (hoax or not) makes me bullish on the AUD if they go ahead with it.

I certainly wouldn't bet against the AUD - I've learned a few lessons in the last 5 yrs.

 

:|

 

It seems that way, I'm just cautious about committing myself to the idea, given how resistant to fundamentals the AUD has been for years now.

When it turns though, it'll be a train wreck IMO.

Edit: Don't underestimate the carry trade, particularly when money is looking for a place to park outside of equities.

 

Who knows what sort of form a new round of Chinese stimulus will take? How many empty cities can they build? Until it is announced we won't know if the stimulus will have a direct impact on their imports of Australian resources.

The next QE from Bernanke should be bullish on the AUD as the benefactors of that fresh cash seek to cash in on higher yields in AUS. The carry trade will be on again(more).

One thing is for sure, China cant keep increasing their purchases of Aussie resources for ever. When that falls off a cliff, so will the Australian economy and with it the AUD.

So short term bullish on AUD and long term mega bear AUD.

 

Just a hunch, lets wait and see but I think we will be smashing through parity this year, I'm looking for around a 78 cent bottom forming in the end of October / start of November, just a temporary correction during an upcoming liquidation period. Maybe close the year out at 95 cents.

As for highs Australia has all but guaranteed the US that we will never get above $1.10, any sign of this and our pollies will start spending again and the RBA will cut rates, it's agreed unified fiat destruction of the Western countries.

 

If im right Techincal analysis answers are more like e.g 2201.54 (not rounded off pointless guesses like what you listed)

Can you post his chart confirming how he came up with these figures?
That way we can view them

 

As The Iron Anvil Falls, Will Australia Be Stuck Below It?

not a pretty picture unless you are on the right side of a short position

 

Why has the Shanghai composite index done so badly over the last few years? I thought China was booming until the last year?