$35 US Silver. Sign of new Surge or just a False Rise?
- Thread starter errol43
- Start date
Photonaware
Active Member
More positive news in the economy, rather than more negative might mean there is more hope so investors are starting to come out of the woodwork. Lot of people hoarding cash waiting for a sign. Everyone knows the big economies continue to print paper money so maybe worth buying some PM. Having just bought more silver there is a fair chance that the price will once again drop.
Unfortunately my crystal ball is not telling me anything right now but my tea leaves are indicating a buying opportunity.
Unfortunately my crystal ball is not telling me anything right now but my tea leaves are indicating a buying opportunity.
Silver traded in a tight range of $33.25 to $33.75 for nearly two weeks. The cartel could not knock the price below $33 as silver bounced back repeatedly.
Will it hold? I expect to see sub $35 again soon. We may well see a struggle to hold $35 before there is a further move higher.
Why did it rise? I don't know. It may be on account of improved economic news (either real or trumped up by the media) or just the slow realization that inflation is kicking in. My vote is for expectations of inflation.
Will it hold? I expect to see sub $35 again soon. We may well see a struggle to hold $35 before there is a further move higher.
Why did it rise? I don't know. It may be on account of improved economic news (either real or trumped up by the media) or just the slow realization that inflation is kicking in. My vote is for expectations of inflation.
USD$
The next downside price breakout objective for the bears is closing prices below solid technical support at the February low of $32.64.
First resistance is seen at $35.68 and then at $36.00. Next support is seen at $35.00 and then at $34.50.
Source kitco
The next downside price breakout objective for the bears is closing prices below solid technical support at the February low of $32.64.
First resistance is seen at $35.68 and then at $36.00. Next support is seen at $35.00 and then at $34.50.
Source kitco
interesting trend though ...
it broke the MA200 and potential rising, but silver in the overbought territory (rsi) technically and expiry option just around the corner.
Dont think will go sub $25 by May unless italy and portugal are in the same fate as Greece.
it broke the MA200 and potential rising, but silver in the overbought territory (rsi) technically and expiry option just around the corner.
Dont think will go sub $25 by May unless italy and portugal are in the same fate as Greece.
Sargeant Argent
New Member
Wrcmad, triple overhead eh? I hope u brought your gun!
I don't know what is going on in $usd but if i were predict in $AUD then the leadership battle will cause a drop in the $AUD hence the price rise of metals in $AUD over the short term. Once the political cr@p is over then the metals $AUD price will drop slightly but by then i expect the price not to have jumped either way too significantly and still be trading within the sideways range but greater than it is now.
If i were to guess on the metal price in $USD, i would suggest that the slow boring sideways trading will continue but with a slight upwards inflection (hey, i like that word).
This of course is just a guess.
In practice for me, i don't really give a damn what the price is atm as i'm still a buyer if i have the spare cash after paying life's necessities.
If i were to guess on the metal price in $USD, i would suggest that the slow boring sideways trading will continue but with a slight upwards inflection (hey, i like that word).
This of course is just a guess.
In practice for me, i don't really give a damn what the price is atm as i'm still a buyer if i have the spare cash after paying life's necessities.
Sultan Pepper
Member
My 2 cents:
It'll hit $38 in the next 10 days.
It'll hit $38 in the next 10 days.
Sultan Pepper said:
I'll be watching!
I get the feeling silver is at a critical level here. The signs are very positive, but we've hit the level on the momentum measure (RSI = 70) where the price has previously given in to gravity since after the correction began back in May. Also silver is at the level of the previous peak back in October.
But the good things are the cross of price back over the 50 day moving average, then back over the 200 dma, and the 50 dma has turned up.
The volume has been rising and open/close range was biggish last night.
The other critical point to my thinking is that if you put a ruler over the big peaks to get a sense of the major downtrend you will find the price is at that downtrend line of resistance right now. To break through that while at the same time exceeding the October peak would be pretty strong behaviour.
I'd like to guess but don't have a strong sense of where it'll go over the next week.
But the good things are the cross of price back over the 50 day moving average, then back over the 200 dma, and the 50 dma has turned up.
The volume has been rising and open/close range was biggish last night.
The other critical point to my thinking is that if you put a ruler over the big peaks to get a sense of the major downtrend you will find the price is at that downtrend line of resistance right now. To break through that while at the same time exceeding the October peak would be pretty strong behaviour.
I'd like to guess but don't have a strong sense of where it'll go over the next week.
excellent finicky, always love your depth tech analysis 
silverstar1
New Member
I like this prediction ! I am kind of with Roman except maybe 38 in a month or so.. It is also that time of year and should continue for a few months at least with overall uptrend . Just to compare it to oil, it has been hovering too then a big break and probably more to come, a different animal yes but comparisons could be made.No1joey said: