Edited by dharma, 23 September 2014 - 09:14 AM.
what i see
#1
Posted 23 September 2014 - 09:08 AM
#2
Posted 23 September 2014 - 09:21 AM
Edited by dharma, 23 September 2014 - 09:24 AM.
#3
Posted 23 September 2014 - 09:24 AM
#4
Posted 23 September 2014 - 10:20 AM
no doubt there is a divergence w/silver making new lows and gold not. yes, and on the weekly charts there is oscillator divergences.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
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
#5
Posted 23 September 2014 - 10:37 AM
no doubt there is a divergence w/silver making new lows and gold not. yes, and on the weekly charts there is oscillator divergences.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
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
#6
Posted 23 September 2014 - 10:58 AM
no doubt there is a divergence w/silver making new lows and gold not. yes, and on the weekly charts there is oscillator divergences.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
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.
#7
Posted 23 September 2014 - 11:00 AM
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.no doubt there is a divergence w/silver making new lows and gold not. yes, and on the weekly charts there is oscillator divergences.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
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
dharma
#8
Posted 23 September 2014 - 11:49 AM
#9
Posted 23 September 2014 - 01:26 PM
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.
#10
Posted 23 September 2014 - 01:54 PM