Showing strong resistance

[Dusty Roads]

Hi all, looks like the metals have found some traction at this level, just check in on the metals price chart. Thought it was going to be a bloodbath with those usa job numbers but metals are holding up well, still down but due mainly to usa dollar strength. As I type this there is a little under two hours trading left, if silver can get back to green from here I think we just may have seen a very strong case for calling a bottom . Time will tell .

 

[Eruaran]

Famous last words.

 

[Dusty Roads]

Yea I am loath to try and call the bottom at any time , but after the strong rebound at the start of the week and this strong resistance to drop again, bodes well. Physical silver is very well bid in India as well , (times of India) . So putting all this together is all good . We will wait and see if we get a green / up day on silver today it is a good omen. There just might be light at the end of the this very long , very dark tunnel. Keep stacking folks and have a very happy Xmas.

 

[Caput Lupinum]

Hi all, looks like the metals have found some traction at this level, just check in on the metals price chart. Thought it was going to be a bloodbath with those usa job numbers but metals are holding up well, still down but due mainly to usa dollar strength. As I type this there is a little under two hours trading left, if silver can get back to green from here I think we just may have seen a very strong case for calling a bottom . Time will tell .

For silver to go higher the US dollar needs to get weaker. There was nothing in the jobs report to suggest a weaker US dollar. Silver did hold up better than I expected but any weak data from elsewhere around the world will only confirm the dollar's strength putting selling pressure on silver. It should get quieter now until the new year but unless silver somehow reaches the $17.50 resistance level it could still grind lower.

 

[Dusty Roads]

Well we did not get a green close today, nearly in Aussie dollars but 20 cents lower in usa dollars. But I have to say , things are looking up.

 

[Dusty Roads]

Hi all, looks like the metals have found some traction at this level, just check in on the metals price chart. Thought it was going to be a bloodbath with those usa job numbers but metals are holding up well, still down but due mainly to usa dollar strength. As I type this there is a little under two hours trading left, if silver can get back to green from here I think we just may have seen a very strong case for calling a bottom . Time will tell .

For silver to go higher the US dollar needs to get weaker. There was nothing in the jobs report to suggest a weaker US dollar. Silver did hold up better than I expected but any weak data from elsewhere around the world will only confirm the dollar's strength putting selling pressure on silver. It should get quieter now until the new year but unless silver somehow reaches the $17.50 resistance level it could still grind lower.

Hi , yep charts and resistance levels are all fine, but demand will blow them all away. I think people power will set things right. Just look at the draw down in London , those Indians are buying that's for sure. Keep stacking folks and have a happy Xmas

 

[Caput Lupinum]

Well we did not get a green close today, nearly in Aussie dollars but 20 cents lower in usa dollars. But I have to say , things are looking up.

no, not really

 

[Dusty Roads]

Well we did not get a green close today, nearly in Aussie dollars but 20 cents lower in usa dollars. But I have to say , things are looking up.

no, not really

Well at the time of posting the SS chart was showing -2 cents aud and -24 cents us , so -2 cents is nearly green in my world.
Half full or half empty , all depends on your outlook. My class is like my stack, half full. Better to say " there it is ,than where is it". Keep stacking folks and have a very merry Xmas.

 

[Caput Lupinum]

Half full or half empty , all depends on your outlook.

no, not really. It depends on the fundamental and technical analysis of various indicators and other asset classes. They don't really subscribe to half full or half empty

 

[Dusty Roads]

I do not consider gold and silver to be like any other asset classes , treating them as any other commodity is just plain wrong. They are real money and will I hope set us free from these central bank thieves. The U.S. dollar is the most evil thing on this planet, countries have been destroyed, countless lives lost and destroyed just to ensure the status quo of this paper leech. The world has woken up to the immense injustice of this 'reserve currency' and it's days are numbered. So why are several countries insisting that they get their gold back, Beligum according to silver doctors is the latest country to have woken up to the paper leech that is the American dollar. The free lunch is over for them the world has had enough. Gold and silver will be used as real money once again and balance will be restored. Keep stacking and have a very merry Xmas.

 

[Caput Lupinum]

no, not really. Last time I checked gold and silver aren't currently used as a store of value and can't be exchanged on any large commercial level for goods or services so they are not real money. If the value of currencies continues to deteriorate this could change in years or decades to come, however gold and silver as they currently stand are just commodities which are still in a bear market and still a little way off from testing their next resistance level.

 

[phrenzy]

Just to add some ignorance to the conversion, but surely the fact that we didn't see silver and gold kicked in the balls after 40% better than expected job figures matched with solid wage growth is a good sign even it's nothing as special as a bottom or end to the bear hug?
I figure if gold and silver can more or less maintain through all the good news that should be pushing it down it's setting up for a stronger position if something goes wrong.

 

[Dusty Roads]

no, not really. last time I checked, Central banks are scrambling to bring home this relic of the past. I wonder why? Could it , no it's not possible, well maybe just maybe that they know what real money is and that the fiat experiment is on it's last legs. You can't just print and print with out limitation and without lots and lots of unintended consequences. Them chickens are coming home to roost and western societies had better get use to the new normal. Paper backed by these reckless western governments is heading towards the trash can, their reign is over. It's time for the reserve currency to be shared amongst all . Keep stacking folks, oh and have a very merry Xmas.

 

[Dusty Roads]

Just to add some ignorance to the conversion, but surely the fact that we didn't see silver and gold kicked in the balls after 40% better than expected job figures matched with solid wage growth is a good sign even it's nothing as special as a bottom or end to the bear hug?
I figure if gold and silver can more or less maintain through all the good news that should be pushing it down it's setting up for a stronger position if something goes wrong.

Yep, that was my thinking, things are looking UP.

 

[wrcmad]

no, not really. Last time I checked gold and silver aren't currently used as a store of value and can't be exchanged on any large commercial level for goods or services so they are not real money. If the value of currencies continues to deteriorate this could change in years or decades to come, however gold and silver as they currently stand are just commodities which are still in a bear market and still a little way off from testing their next resistance level.

This ^

 

[wrcmad]

Yea I am loath to try and call the bottom at any time , but after the strong rebound at the start of the week and this strong resistance to drop again, bodes well.

Geeezus... I was confused for a while there... :lol:

This is called support.

 

[Dusty Roads]

Yea I am loath to try and call the bottom at any time , but after the strong rebound at the start of the week and this strong resistance to drop again, bodes well.

Geeezus... I was confused for a while there... :lol:

This is called support.

Well support is more it line with chartist jargon. Where as ,Resistance conjures up the idea of the under dog fighting the good fight , against overwhelming odds and striking a blow for freedom of the oppressed. Like say the 'French resistance' did in WWII, AND LOOK HOW THAT ONE TURNED OUT. keep stacking folks and yep you guessed it have a very merry Xmas.

 

[Caput Lupinum]

Well support is more it line with chartist jargon. Where as ,Resistance conjures up the idea of the under dog fighting the good fight , against overwhelming odds and striking a blow for freedom of the oppressed. Like say the 'French resistance' did in WWII, AND LOOK HOW THAT ONE TURNED OUT. keep stacking folks and yep you guessed it have a very merry Xmas.

no, not really. Support indicates a level on the downside where buyers step in against sellers whilst resistance indicates a level on the upside where sellers step in against buyers

 

[Eureka Moments]

Well support is more it line with chartist jargon. Where as ,Resistance conjures up the idea of the under dog fighting the good fight , against overwhelming odds and striking a blow for freedom of the oppressed. Like say the 'French resistance' did in WWII, AND LOOK HOW THAT ONE TURNED OUT. keep stacking folks and yep you guessed it have a very merry Xmas.

no, not really. Support indicates a level on the downside where buyers step in against sellers whilst resistance indicates a level on the upside where sellers step in against buyers

So should we be supporting the support or dropping the resistence to the support by supporting the restistence to resistence instead?

 

[Dusty Roads]

Great post , love the humour.
Well let's see, it's all getting very confusing. Firstly let's support my right to use the the word resistance and my right as a individual to resist the use of the word support as it does not reflect the true meaning/essence of my argument . That said, I think one is right and the other one has no support in this argument at all.

Keep stacking folks ............and ho ho ho