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#71 K Wave

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Posted 05 December 2019 - 09:01 AM

Here is a mutl-timeframe look at SLV to see what we are dealing with at this moment in time...

 

Was so close to launch until yesterday's launch pad disaster...

 

Still possible we could see stick save before further decline looking at daily and hourly.

But it would have to come pretty much immediately...if not, then a full back test of 4 hour 900 could very well be next target.

 

In any event, until bulls can take out that shooting star on the daily from Tuesday, they got nuthin'

 

Hourly

slv60.png

 

4 hour

slv240.png

 

Daily

slvday.png


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#72 K Wave

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Posted 05 December 2019 - 09:12 AM

Here is Platinum Daily...again, close but no cigar...

I do believe at this point, that another push over 920 will likely flip the script...

 

pl.png


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#73 K Wave

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Posted 05 December 2019 - 09:27 AM

Gold is the only PM technically in a possible Long Term Bull formation right now, with rising 200 over rising over rising 900 MA on the daily chart.

 

Silver and Platinum still working on getting there...

 

When all 3 are finally in alignment, that is when it should finally be safe to buy and hold with more consistent, steady, upside progress...instead of all this sideways chop.


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#74 stubaby

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Posted 05 December 2019 - 09:42 AM

Gold is the only PM technically in a possible Long Term Bull formation right now, with rising 200 over rising over rising 900 MA on the daily chart.

 

Silver and Platinum still working on getting there...

 

When all 3 are finally in alignment, that is when it should finally be safe to buy and hold with more consistent, steady, upside progress...instead of all this sideways chop.

Thanks K-wave - I remember well the 2000-2001 bottom/bottoming process and the eventual parabola that unfolded after 2007-8 and ran into the 2011 tops - Thanks for all your contributions!



#75 K Wave

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Posted 05 December 2019 - 10:08 AM

The idea is to try and time the entry to catch the meat of the up move.

 

Having huge positions for year after year while things go down to sideways incurs huge opportunity cost.

 

Hopefully yesterday's disaster in SI and PL will be overcome soon...but until it is, can't rule out real possibility of more dead money time in PM sector....

 

The weekly futures chart on Silver still gives me a decent amount of hope that this back test of the now reclaimed 200 week and 900 week MAs is nearly done

This looks like a possible powerful confluence that "should" be a launch point.

BUT...if price drops significantly below where we are now for any length of time, could be something more sinister in the works for PM bulls.

 

So like I said before, I am ready to fire with both barrels on Silver for the long term if we hold in this area.

I have already done it a couple of times only to be stopped out with relatively small gains in the overall scheme of things.

 

I may be firing again real soon...let's see what next few days bring.

 

 

SIweek.png

 

 


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#76 K Wave

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Posted 05 December 2019 - 10:14 AM

GDXJ making another run at 39.50...

 

If it manages to blast on through, bulls could be free to roam...


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#77 K Wave

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Posted 05 December 2019 - 10:18 AM

GDX much weaker on that attempt...now in danger of losing the 1 min 900...which could initiate rollover...

 

Could be real close to short term moment of truth....


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#78 K Wave

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Posted 05 December 2019 - 10:27 AM

GDX bulls hanging' on...

 

Another move over 27.60 now might get them runnin'


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#79 K Wave

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Posted 05 December 2019 - 10:58 AM

first attempt at 39.50 GDXJ rejected...bulls need one more...


The strength of Government lies in the people's ignorance, and the Government knows this, and will therefore always oppose true enlightenment. - Leo Tolstoy

 

 


#80 dougie

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Posted 05 December 2019 - 11:08 AM

 

Gotta wonder how much longer GC will hold out with the destruction in SI and PL today....

 

DUST may be a short term play here if 7.10 continues to hold....

 

that DT line holding on