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Rank: Advanced Member
Joined: 10/21/2007
Posts: 53
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The gold long-term uptrend (in US dollar terms) continues. The 65-week moving average has been positive since the start of 2002. To put the present gold uptrend in perspective, we've attached both a 3 year and a 36-year chart. The 36-year chart shows that gold (in US dollars) hasn't even broken the all-time nominal high set in 1980. This is getting interesting...
bigpicinvestor attached the following image(s):
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Rank: Advanced Member
Joined: 10/9/2007
Posts: 45
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Silver may very well breakout soon and follow gold. I'm itching to add to my silver stash once a breakout is confirmed. Do you think we'll get a double in silver by next year?
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Rank: Administration
Joined: 10/7/2007
Posts: 186
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May I ask what form of silver you buy? Do you purchase the silver ETF (SLV) or physical silver? The reason I ask is that there is some doubt as to whether SLV holds any silver. For more info, read Butler's recent article: A Simple and Constructive Solution
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Rank: Advanced Member
Joined: 10/21/2007
Posts: 53
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nextbigthing wrote:Silver may very well breakout soon and follow gold. I'm itching to add to my silver stash once a breakout is confirmed. Do you think we'll get a double in silver by next year? You must have patience. Silver has NOT broken out from its long-term resistance line yet. Also, I prefer to not use daily charts, and I'm waiting for a breakout on the weekly chart. I even have friends who only use monthly charts.
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Rank: Advanced Member
Joined: 10/9/2007
Posts: 45
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bigpicinvestor wrote:nextbigthing wrote:Silver may very well breakout soon and follow gold. I'm itching to add to my silver stash once a breakout is confirmed. Do you think we'll get a double in silver by next year? You must have patience. Silver has NOT broken out from its long-term resistance line yet. Also, I prefer to not use daily charts, and I'm waiting for a breakout on the weekly chart. I even have friends who only use monthly charts. The silver breakout is coming. Gold and silver prices are going way up today. Once silver breaks above 14.5 all hell is going to breakout to the upside.
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Rank: Advanced Member
Joined: 10/9/2007
Posts: 45
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admin wrote:May I ask what form of silver you buy? Do you purchase the silver ETF (SLV) or physical silver? The reason I ask is that there is some doubt as to whether SLV holds any silver. For more info, read Butler's recent article: A Simple and Constructive Solution I stick mostly with buying physical silver and CEF (central fund of canada). I know CEF has silver in their vaults. I don't know if SLV holds anything real.
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Rank: Advanced Member
Joined: 10/21/2007
Posts: 53
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The upper resistance line for silver is closer to US$14.65 (not US$14.5). So we have a little more to go to initiate a breakout for silver dominated in US dollars. Also, I'm waiting for a weekly close above that price.
Also, I cannot tell whether a breakout will occur. Maybe the silver sellers will dominate over the silver buyers and the silver price will fail to breakout. I refuse to be stubborn. Price and volume will lead the way.
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Rank: Advanced Member
Joined: 10/9/2007
Posts: 45
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bigpicinvestor wrote:The upper resistance line for silver is closer to US$14.65 (not US$14.5). So we have a little more to go to initiate a breakout for silver dominated in US dollars. Also, I'm waiting for a weekly close above that price.
Okay, silver just went above 15 this morning. So now by your own statement we have an official silver breakout. Are you still waiting for a weekly close above 14.65 to make it official. I just can't wait any longer, I'm pulling the trigger and buying as much silver as I can afford to. My 1-year target for silver is 25-30. See you all on the other side (of 20!).
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Rank: Advanced Member
Joined: 10/21/2007
Posts: 53
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bigpicinvestor wrote:The gold long-term uptrend (in US dollar terms) continues. The 65-week moving average has been positive since the start of 2002. To put the present gold uptrend in perspective, we've attached both a 3 year and a 36-year chart. The 36-year chart shows that gold (in US dollars) hasn't even broken the all-time nominal high set in 1980. This is getting interesting... Gold (in Euros) has broken out to new highs so the gold bull is going strong in Europe. Gold in Canadian dollars may soon be next to follow. Soon all nations will jump into the currency devaluation race, however to different extents.
bigpicinvestor attached the following image(s):
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