25 replies to this topic

[hawkeyefan]

It appears Silver finished five waves down yesterday from 22.20. What is this rally? Anybody? I bought a little SLV at 18.37 this morning.

[Russ]

(Kitco News) - Gold prices have made a good recovery from the session lows in late-morning trading Friday. After dipping following a bearishly construed U.S. employment report, gold buyers have stepped in. Short covering from the shorter-term traders after recent selling pressure, bargain hunting, and some safe-haven buying are featured plays to wind down the trading week. The tensions in Ukraine are on the rise Friday, following reports the Ukrainian military is moving to take back a Russian separatist-occupied city in eastern Ukraine. Gunfire and reports of Ukrainian helicopters being shot down are prompting safe-haven demand for gold, especially heading into an uncertain weekend on the matter. The U.S. dollar index has backed down from its early high as midday approaches Friday, which is also a bullish underlying factor for the precious metals. June gold was last up $13.70 an ounce at $1,297.00.

[hawkeyefan]

Thanks for that. I am discombobulated on a longer term count, but could see five waves down from 22.20 ( thought it was worth a shot). Just trying to grasp how to prematurely label a rally if it occurs with vigor.

Edited by hawkeyefan, 02 May 2014 - 10:29 AM.

[dharma]

Thanks for that.

I am discombobulated on a longer term count, but could see five waves down from 22.20 ( thought it was worth a shot). Just trying to grasp how to prematurely label a rally
if it occurs with vigor.

maybe wave 3 pt of recognition!
maybe
maybe
dharma

[gannman]

could be the end of the bear market in slv. if so the metals sb flying next week fwiw

[hawkeyefan]

There has been two impulses up off the low in the small time frames. Need one more to be assured there will be at least three more after a correction.

Edited by hawkeyefan, 03 May 2014 - 09:42 AM.

[hawkeyefan]

Presently, looks like Silver is in "iv" of "iii" of "v" from last Thursday's low. So we are getting the "v". Now just have to be careful in case this impulse up from Thursday may be a "c" of an irregular flat from the previous low. I don't think it is, but one can never be 100% certain.

[dougie]

Now just have to be careful in case this impulse up from Thursday may be a "c" of an irregular flat from the previous low. I think so too

[hawkeyefan]

Presently, looks like Silver is in "iv" of "iii" of "v" from last Thursday's low. So we are getting the "v". Now just have to be careful in case this impulse up from Thursday may be a "c" of an irregular flat from the previous low.
I don't think it is, but one can never be 100% certain.

The above is not correct. I rushed the count.

Still in the early stages of "v" from Thursday's low. I think.

[hawkeyefan]

Should be higher tomorrow, maybe a lot.