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Silver 40 Year Cup and HandleThe disconnect between physical and paper markets is considerable. The paper markets represent $5T whereas there is a $20B market for physical silver. If the price of silver were based off the total market, silver's price value would be roughly $5000/oz. Not saying silver is going there but this is decades of manipulation and curving demand from the physical market to paper all while buying up the physical silver for themselves. There is definitely an extreme undervaluation here and once the leveraged naked shorts get wiped out, silver will moon.
COMEX:SI1!Long
by Three-Bull-Insight
#SLV Almost Ready for the Continuation#SLV Setting up a bullish pennant on weekly and daily time frames. High volume run ups are usually followed by a period of consolidation before a continuation/reversal. Once silver breaks above the upper trendline and clears 23.55, SLV should start its move to $30+ by the end of the year. This is just the start for silver and gold and if it isn't a part of your portfolio yet, I'd strongly consider it. Do your own due diligence as always.
AMEX:SLVLong
by Three-Bull-Insight
GOLD - Route To 2400+ After ElectionsHello everyone, Andrew here, want to start with, This Is Not a Political Preference or statement. If you look at the chart, you'll see either party will take Gold to it's next all time high. For different reasons, Gold will react volatile to this next presidential election. The color of the route represents the political party, Red of course is the existing party and Blue, it's rivals. The path for each party is based on my personal feelings on how I think Wall Street will react, in turn affecting short term Gold prices. That said, investors find Gold as a safe haven for uncertainty in our economy. The reason I feel the Red route will see a dip is because Wall Street should react positive. Why will Wall Street react positive? Less uncertainty in the economy. Changing parties makes investors nerves. Why do I think Gold is going to 2400 and higher? Gold will continue its current path, but, may see a large boost soon after the election. With US Civil War looming, Debt, Gold manipulation letup, Political agendas and Record Spending, Gold has a very bright future IMO. Will Gold hit $2400 in my time frame? In my dreams? lol... I am not an investment advisor, please do your own homework and seek professional help before investing, period.
TVC:GOLDLong
by Vascoins
3
Short-term bounce on DXYThanks for viewing. Following because of USD holdings and USD denominated assets - including assets negatively correlated to the USD - like gold. USD held as a hedge against weaker local currency and against gold positions. Whatever your personal belief on Elliot Wave, I am not imagining a very clear 5 waves down (labelled (i) to (v), since the march 2020 high. There are 5 sub-waves evident in each of the three down portions and none of the EW guidelines, tendencies, retracements, extensions, or rules are broken for an impulse move (i.e. wave 2 tends to be deeper and reached a 50% retracement, wave 4 is normally a shallower more correction and hit the 0.382 retracement level almost exactly). Long story short, this an impulse move that meets all normal characteristics, so I am charting out what that could mean for price if it continues to follow stereotypical EW tendencies - a 3 wave correction. Overall, I see the relative valuation of the USD vs the DXY currency basket as heading downwards as in my, possibly overly pessimistic view, the USD loses both it's safe-haven and global reserve status. However, my bearish view is primarily based on the chart. I will post a longer-term chart next. Remember all fiat currencies are losing value over time, some are just losing value more quickly. I hope everyone who hasn't already considered a physical precious metals position (no not a gold or silver ETF position Millenials) will do so, even just as a hedge. Some major hedge funds have positions sizes of around 10% of assets in gold - maybe they know a thing or two. Actually, I will permit myself a digression here. You cannot ask for physical delivery from a precious metals ETF unless you have a significant position and I would think that in the event of a bullion / monetary crisis that option may no longer be available. So any gains are just paper gains. The Custodian of the world's largest gold ETF was in the news last week as one of the major banks involved in the suspicious activity report (SAR) scandal (while they were already on probation for previous wrong-doing) - which I expect to result in major litigation and fines. But wait, that is not all! They just popped up in my news feed again today as an alleged facilitator of transactions between Huawei and US sanctioned Iran. Wow, they seem like a really safe, super ethically sound bunch to hold gold on my behalf :P Imagine if they are being similarly ethically sound and forthcoming about the level of their physical gold holdings versus their issued gold ETF shares - well if it was ever discovered that these two things were divergent, not only would gold ETF holders miss out on the massive price appreciation of physical gold that results, but you may also not be able to withdraw ETF funds. Ok, rant over. But seriously, if you do buy gold or silver to hedge against currency deflation / coming inflation, consider secure, reputable, insured non-bank vaults that give you images of your allocated holdings that is in a safe, politically stable, bullion friendly jurisdiction - like bullionstar.com and not a bullion ETF. Ok, I feel better now. Another really good reason I am following the DXY as strengthening of the USD will mean a pull-back and possible good buy zone for precious metals - which I see as going higher after correcting recently for no good fundamental reason. A bounce in the USD is allowing me to load up on silver which is again worth more than 80:1 (by weight) vs gold. I hope all that made sense. Protect those funds and good luck.
TVC:DXY
by flyinkiwi10
Golden opportunity in a pullbackGold GC1! weekly chart is showing a rejection about the triangle resistance, as it ended the week slightly positive, but in a gravestone doji-like candlestick. MACD is pulling back as well. The Non-Commercial Net Interest (bottom panel, orange line) is rejected at the resistance and staying within a triangle. Watch it for the possible breakdown in the weeks to come. The Top8 Traders Net interest is slightly more net short than a week ago, turning lower to continue the downtrend. Watch this as well. Overall, this chart suggest downside risks, or a consolidation at best.
COMEX:GC1!
by Auguraltrader
2
Gold Rejected Again? Back to Lows?Not to beat a dead horse but Gold is back to try and test a breakout of the downtrend resistance it's been fighting since ATH back in August. Made a couple attempts to break above overnight around 1917 spot Now kinda of treading water on the downtrend DXY back on the lows...USD could rally from here and get a reaction out of GLD Stimulus mostly priced in by now surely? I'd fade any stimulus related pop and look for Gold to head back to those lows around 1860 Depending on whether or not GVX pops I may sell GLD Call Spreads but I prefer to just play it long GLD Puts and leg those in some sort of spread. If GVX doesn't budge on a Gold pop that to me would be a tell its not going higher
TVC:GOLDShort
by Tidal_0BX