678 replies to this topic

[senorBS]

Yeah. We're overdue for a pullback, I don't where that fits in timing wise. Short term I remain bullish.

Gosh, silver is leading gold. Am I dreaming?

DREAM ON AMIGO! lol, very nice day in silver/SLV and supportive of the possibility of a wave iii of 3 getting underway basis daily charts, no excuses here, if this is the count we should blow thru key 15.50-15.60 resistance the next 2-3 days if this wave pattern is playing out, we see

 

Senor

Edited by senorBS, 15 July 2019 - 04:44 PM.

[senorBS]

I keep looking at the hourly and daily charts of GLD and wonder if we are right now in wave E of a large contracting triangle (a wave 4) from the June 25th rally high, we see

 

Senor

[hhh]

That's what I've been waiting for Senor.

[senorBS]

 

Yeah. We're overdue for a pullback, I don't where that fits in timing wise. Short term I remain bullish.

Gosh, silver is leading gold. Am I dreaming?

DREAM ON AMIGO! lol, very nice day in silver/SLV and supportive of the possibility of a wave iii of 3 getting underway basis daily charts, no excuses here, if this is the count we should blow thru key 15.50-15.60 resistance the next 2-3 days if this wave pattern is playing out, we see

 

Senor

 

BTW todays SLV volume is already the largest since the huge daily drop in Nov of 2016! This looks bullish as its happening on a key upside breakout day - I'd call this third wave volume

 

Senor

[hhh]

GDXJ just broke a former resistance (and was support today) line at 36.17. I think we need a bit of a pullback here.

[Smithy]

Weds morning 7:30 am EST spot gold 1402

 

Seems to me support is spot 1400 and 1395.

I'd rather not see gold below spot 1393, that's a line in the sand.

I'm looking for a now between now and Friday.

Comments welcome.

Edited by Smithy, 17 July 2019 - 06:36 AM.

[hhh]

I with you Smithy. I think we need to tag the bottom TL of the triangle and from there we'll do 5 up and then the big retrace for a week or two at least.

[senorBS]

Beautiful/classic breakout trading continues in Silver/SLV, got the huge volume breakout yesterday with a late session back test of the breakout level at SLV 14.54-14.55 and today right back to new highs for this move. I will reiterate that the daily and weekly charts suggest this is wave three of three and NOT a wave 5 so I think in silver related miners this is not a place to look to take profits- as always DYODD

 

Senor

[senorBS]

I keep looking at the hourly and daily charts of GLD and wonder if we are right now in wave E of a large contracting triangle (a wave 4) from the June 25th rally high, we see

 

Senor

with todays rally odds looking pretty decent a wave "e" in GLD may have ended yesterday at 132.13, if correct target for the el thrusto is 136-137 area, we see

 

Senor 

[Smithy]

Ray Dalio thinks we're entering a paradigm shift and likes gold. I'm a big fan of his.

 

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