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Let's talk Silver

Daytrader21 Updated 16 Apr.  in #Trader's blog #Gold #Silver #Descending Triangle #Long Term View #Secular Bull Market #Cup Handle #Rectangle
In my blog I've only been talking about gold and you can find some of my comments and if you what my view on gold you can read here: Gold - Next Move and here Gold Outlook.
First of all I just want to make it clear this is my long term view on silver and not trying to forecast the next $1-2 move. In this regard I'm going to bring to your attention 2 long term charts to back up my bullish view on silver. First chart represents spot NY silver weekly closing price from January 1975 through April 20…
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3 Comments
Jignesh avatar
Jignesh 16 Apr.

I thought for sure you'd say that the support was gonna hold and I'm thinking wow that's the first time our view point is different!  I missed my entry in GOLD yesterday by $3. Targeting $1050.  What target do you have for Gold?

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Daytrader21 16 Apr.

It's very hard to tell if current bottom level in gold will stay intact or if we're going to have another shake-out of weak hands, but I guess the extreme pain level would be below the psychological $1000 level, where the majority will give up on gold. However I'm only expecting a major move to the upside to start by the end of the year, as I'm expecting the current sell of from September 2011 top to complete a pi cycle of 3.14 years.

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Jignesh 16 Apr.

Initially I expected a breach of 1000 as well.. but I'm making the assumption that there would just be too many buyers at that level.  There's a triangle in play on the Gold chart as well.  At least that's how i'm viewing it.

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Gold Outlook

Daytrader21 Posted 25 Feb.  in #Trader's blog #Russia #Inflation #Gold #Ukraine #Channel #Secular Bull Market
Recently I've seen quite a high blog post "inflation" about the precious metal Gold, so I've decided to give my own outlook about current development in the Gold market. The recent rally in the gold market has been on the front page in the last few days, and everyone is now calling for the secular bull market
resuming his trend.
But if you ask me timing the next big up leg is critical and I only see that coming after we'll have some decent retracement in the equity market.
However recent develo…
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sonjatrader 25 Feb.

Daytrader21 your post are better and better. Nice trading day!!

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Daytrader21 25 Feb.

Thank you Sonia, much appreciated. Wish you all the best!

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