202 replies to this topic

[dharma]

gann had the seasons as possible turns . we are way over sold on a daily chart it seems to me that we will bounce here. a more important low will occur in october i have 1198 as good support and that is where i think we are golng march marks the 21-22 month cycle . i think that will be a significant low and then a more important rally unlike gold , silver was 2 hats , monetary metal and industrial metal the industrial side of the hat is saying demand is weak. i have a much lower projection for silver prices. when india and china get their solar projects under way then it will have good industrial demand. for now the elastic relationship gets blown out. remember no cb holds silver. its mostly held by speculators right now the market is viewing things as a nirvana. w/so many catalysts out there , that can change in an instant , but for now it is what it is. more base building. dharma remember syria stands in the way of the saudis et al of building their pipe to supply europe w/ng. asad is against(backed by the russians) such an occurrence

Edited by dharma, 23 September 2014 - 09:14 AM.

[dharma]

so far geopolitical events have caused bounces in gold not like after the banking crises in 08-09 where world wide demand picked up down the road the nirvana will end and these events will cause more than a bounce. but for now, its a minor event dharma the indian festival season is upon us , and that will create demand for the metal.

Edited by dharma, 23 September 2014 - 09:24 AM.

[senorBS]

tend to agree on most of what you said except perhaps with silver which has now fallen 65% from the high compared with 38% for gold. In addition besides the huge daily oversold condition in silver, its weekly RSI is so far diverging with this new price low against the June bottom (bottoming action overall IMO). This of course guaranteees nada but a weekly divergence would suggest a very key bottom, of course there is no guarantee that the divergence will play out though I think it likely will IMO. BSing away Senor

[dharma]

tend to agree on most of what you said except perhaps with silver which has now fallen 65% from the high compared with 38% for gold. In addition besides the huge daily oversold condition in silver, its weekly RSI is so far diverging with this new price low against the June bottom (bottoming action overall IMO). This of course guaranteees nada but a weekly divergence would suggest a very key bottom, of course there is no guarantee that the divergence will play out though I think it likely will IMO.

BSing away

Senor

no doubt there is a divergence w/silver making new lows and gold not. yes, and on the weekly charts there is oscillator divergences.
however, i do see the possibility for lower silver prices. we shall see. it seems the market is not looking @ the pms w/much interest
dharma

[senorBS]

tend to agree on most of what you said except perhaps with silver which has now fallen 65% from the high compared with 38% for gold. In addition besides the huge daily oversold condition in silver, its weekly RSI is so far diverging with this new price low against the June bottom (bottoming action overall IMO). This of course guaranteees nada but a weekly divergence would suggest a very key bottom, of course there is no guarantee that the divergence will play out though I think it likely will IMO.

BSing away

Senor

no doubt there is a divergence w/silver making new lows and gold not. yes, and on the weekly charts there is oscillator divergences.
however, i do see the possibility for lower silver prices. we shall see. it seems the market is not looking @ the pms w/much interest
dharma

si, there is of course the possibility of lower silver prices and this latest leg down could easily see more downside. However, given the daily RSI and especially weekly action I would suggest that this low, at whatever price level we ultimately see, could easily be a final low "assuming" the weekly divergence holds. IMO the downside is modest ($1-1.50) at worse from here (17.80 area), just my dos centavos

Senor

[goldfungus]

tend to agree on most of what you said except perhaps with silver which has now fallen 65% from the high compared with 38% for gold. In addition besides the huge daily oversold condition in silver, its weekly RSI is so far diverging with this new price low against the June bottom (bottoming action overall IMO). This of course guaranteees nada but a weekly divergence would suggest a very key bottom, of course there is no guarantee that the divergence will play out though I think it likely will IMO.

BSing away

Senor

no doubt there is a divergence w/silver making new lows and gold not. yes, and on the weekly charts there is oscillator divergences.
however, i do see the possibility for lower silver prices. we shall see. it seems the market is not looking @ the pms w/much interest
dharma

si, there is of course the possibility of lower silver prices and this latest leg down could easily see more downside. However, given the daily RSI and especially weekly action I would suggest that this low, at whatever price level we ultimately see, could easily be a final low "assuming" the weekly divergence holds. IMO the downside is modest ($1-1.50) at worse from here (17.80 area), just my dos centavos

Senor

End of quarter selling will probably provide a better entry but we're close.

[dharma]

tend to agree on most of what you said except perhaps with silver which has now fallen 65% from the high compared with 38% for gold. In addition besides the huge daily oversold condition in silver, its weekly RSI is so far diverging with this new price low against the June bottom (bottoming action overall IMO). This of course guaranteees nada but a weekly divergence would suggest a very key bottom, of course there is no guarantee that the divergence will play out though I think it likely will IMO.

BSing away

Senor

no doubt there is a divergence w/silver making new lows and gold not. yes, and on the weekly charts there is oscillator divergences.
however, i do see the possibility for lower silver prices. we shall see. it seems the market is not looking @ the pms w/much interest
dharma

si, there is of course the possibility of lower silver prices and this latest leg down could easily see more downside. However, given the daily RSI and especially weekly action I would suggest that this low, at whatever price level we ultimately see, could easily be a final low "assuming" the weekly divergence holds. IMO the downside is modest ($1-1.50) at worse from here (17.80 area), just my dos centavos

Senor

the thing is there is economic war fare taking place. russia is a large exporter of oil, look @what happened to the price of oil . russia is viewed as an adversary. then it is said china is buying lots of gold. i am just purely speculating. until there is financial distress on a major world player .it seems nothing excites the market for more than a few days. now, i do see the sentiment #s hgnsi -40+ dsi -5 they are @ historic levels. levels not seen since the bear market was approaching its end in 2k and so on. and again @the 08/9 lows. the makings for a bottom are here. lets see where it leads us. i do think we are setting up for a good rally.
dharma

[dougie]

nice to see everyone looking for lower process now. A month ago everyone was banging the table for higher ones.

[goldfungus]

nice to see everyone looking for lower process now. A month ago everyone was banging the table for higher ones.

We're looking to BUY.

[senorBS]

key near term action in GDX/HUI/GDXJ underway from the lows, either upward abc corrections are in their latter stages or a short term 3rd wave is underway to the upside, answer likely coming soon Senor