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golds next leg higher


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#441 AChartist

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Posted 20 May 2020 - 09:32 PM

I'll give it that silver down next week then we have to see short term 

silver e-wave unlikely incomplete w3 or w5 maybe next week is w4.


Edited by AChartist, 20 May 2020 - 09:34 PM.

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#442 K Wave

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Posted 20 May 2020 - 09:43 PM

Armstrong is saying gold peaked yesterday

And the spx today

Does it bother anyone else here that silver move up is following the pattern of spx up so closely ?

So if spx goes hard down for a retest then what happens to silver ?

It's all about $16.50 on Silver now..again

 

It can pull back to there, or slightly below, but if it fails to hold there, then we would not yet have a real breakout....

 

In fact if $16.50 did not hold, it could still get get quite ugly downside with a failure like that.

 

I think we go higher from here a bit more, and hopefully leave no doubt about the breakout...but prepared for plan B if it manifests....

 

Really want to see a May monthly close above 17 on SLV.

 

A monthly close at 15.50 or below could turn out to be NO Bueno...

15.50 was the level where the brunt of the crash began from, so it is now very important to stay back above that level.


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#443 K Wave

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Posted 20 May 2020 - 09:48 PM

SI coming for first back test of 5 min 900 since the breakout...

 

Ideally it holds right about here, and then goes up and takes out $18 for good.

 

If not, then would be first possible sign of weakness...


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#444 linrom1

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Posted 20 May 2020 - 10:27 PM

Armstrong is saying gold peaked yesterday

And the spx today

Does it bother anyone else here that silver move up is following the pattern of spx up so closely ?

So if spx goes hard down for a retest then what happens to silver ?

If Armstrong says we peaked, then this count is same as mine. I thought that this V was very short and it was only 1 of 5 though. Let's see how far down it corrects first. 


Edited by linrom1, 20 May 2020 - 10:28 PM.


#445 tradesurfer

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Posted 21 May 2020 - 01:41 AM

What scares me the most on the gold price is the huge bearish Bat harmonic pattern going all the way back to 2011.



#446 senorBS

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Posted 21 May 2020 - 07:34 AM

Armstrong is saying gold peaked yesterday

And the spx today

Does it bother anyone else here that silver move up is following the pattern of spx up so closely ?

So if spx goes hard down for a retest then what happens to silver ?

Armstrong's near term forecasting is like throwing darts IMO. there are several folks here I would listen too a lot more about and of that type of forecasting. That being said I am thinking a near term perhaps several day modest correction is now more possible, I lightened up yesterday on my more aggressive trading positions as I continue to hold a solid core.

 

Senor



#447 senorBS

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Posted 21 May 2020 - 08:06 AM

SI coming for first back test of 5 min 900 since the breakout...

 

Ideally it holds right about here, and then goes up and takes out $18 for good.

 

If not, then would be first possible sign of weakness...

I am thinking that SLV finds support and perhaps bottoms next several days at 200-day MA and prev 4th wave support at 15.80-15.85. take it FWIW

 

Senor


Edited by senorBS, 21 May 2020 - 08:08 AM.


#448 dharma

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Posted 21 May 2020 - 10:01 AM

dsi

gold=85

silver=91

plat=77

arguing w/the dsi , while its timing may not be to the day, is futile. we are in the weak physical demand part of the year.  yes, there are lots of circumstances that can be an influence ,like another 2.4 mill unemployed, but the demand worldwide is not stoked this time of year. then if you go back and check every may since the bull market began in 01 it gives an overwhelming record that favors a correction. so 100 pullback to 1675/1640 is not unreasonable.  the may high probably occurred.  a breather, at this stage is part of the process.   i look for much higher highs on the next leg.  its all a process

dharma

captain e waves counts   http://www.321gold.c...wave052120.html

 

folks take a look kwave and senor have both stepped forward and are giving an alert.  so dont let the corrections throw you

its part of the process. the bull wants to take as few riders as possible  so , do what you need to , to sleep at night!!!


Edited by dharma, 21 May 2020 - 10:05 AM.


#449 K Wave

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Posted 21 May 2020 - 10:11 AM

SLV has pulled back about as far as it should if still going higher....

 

Much below that last swing low, and could be serious problems....

 

Let's s see if bulls can gather their forces or not now....

 

$18 on SI looks like a massiive pivot now for the IT to LT.....


Edited by K Wave, 21 May 2020 - 10:11 AM.

What A Beautiful Black Sky


#450 senorBS

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Posted 21 May 2020 - 11:00 AM

SLV has pulled back about as far as it should if still going higher....

 

Much below that last swing low, and could be serious problems....

 

Let's s see if bulls can gather their forces or not now....

 

$18 on SI looks like a massiive pivot now for the IT to LT.....

agree amigo

 

Senor