$PAAS Establishing Upward Trade Channel Despite Sputters $PAAS seems to be re-establishing its upward momentum despite resistance from the overall market.
This trader has placed a long call on PAAS, as well as doubled down on the stock position during today's slight dip. Both could be 2+ week holds waiting for this trend to firm up and shake out some investors on the inevitable dips. We do seem to see the establishment of a new trade channel. Relative highs at 39/s are a long term target for the bounceback during this time.
GL, etc
-BDR
Preciousmetals
Silver Priced in Dollars Devalued by M1If you were to devalue the US Dollar in real time as M1 money supply increases, it would price in inflation immediately.
M1 money supply is the amount of liquid available currency within the federal reserve system.
Compare this chart to the current Silver chart and it will give you a glimpse into the future for Silver.
To quantify this into a Silver price, take your % measuring tool, put the starting point where the previous all time high was in 2011, and put the ending point at where the price is on this chart - about 80%.
Take that percentage and apply it from the 2011 all-time high on the Silver chart today, and it should give you about $90 per oz of silver.
Gold Priced in Dollars Devalued by M1If you were to devalue the US Dollar in real time as M1 money supply increases, it would price in inflation in immediately.
M1 money supply is the amount of liquid available currency within the federal reserve system.
Compare this chart to the current Gold chart and it will give you a glimpse into the future for gold.
To quantify this into a gold price, take your % measuring tool, put the starting point where the previous all time high was in 2011, and put the ending point at where the price is on this chart - about 200%.
Take that percentage and apply it from the 2011 all-time high on the Gold chart today, and it should give you about $5000 per oz of gold.
Gold consolidating for a (potential) move to $2500 in early 2021With gold being in consolidation mode for a few months, this is a potential path out of the bull flag and trend it's trading in. I've drawn ideal support backtests with little flushes below to shake out weak hands.
The measured move out of this trend will replicate the move up from our March generation lows, placing the target somewhere in the $2500 range. Inflation will show up in commodities/PMs as we have the regime change in the US and more stimulus packages to aid the economic recovery.
Watching Gold for a real breakout rally... or breakdown While many may be bullish on Gold in the short term, I find that Gold is acting a little off and weirdly too.
With a fiercely dropping USD, Gold is barely in demand (in the short term).
This tells of either a burst breakout rally or a slow breakdown as Gold has slowly creeped up in the last three weeks.
Having bounced off the initial downside target of 1800, Gold is marginally below 1900, and it just failed the downtrending channel resistance despite clocking a series of higher lows and higher highs.
Watch this one reveal its true colours... soon.
Starts PMs Production Next Year in a $1700+ and $19+ EnvironmentI prefer to look at and use logarithmic charts because they're less dramatic but included the regular one for comparison.
DYDD.
The targets I put on the chart are conservative. Conceivably a $3 to $5+ stock. In the medium and long-run I think it makes new all-time highs.
Technical Analysis doesn't have to be fancy.
Copper Outlook /long-term Technical Analysis
We have broken the long-term resistance trend that had been in place for almost 10 years.
RSI is very overbought, but this market has proven overbought can stay overbought for a long period.
In the chart there is 3 potential targets for Copper in the long-term picture.
There are several place to take profits and/or add on pullbacks. (These are the orange segment lines)
Fundamental Analysis
Industrial metals have been rallying strong; and are likely to continue with expected infrastructure investment for 2021 and further.
Copper is also used in Semiconductors, which is the basis of all technology hardware.
Steel is behaving in a very similar fashion, adding to the idea of industrial metals outperforming precious metals.
Silver Massive Move SoonSilver as shown is inside a massive triangle and ready to make a massive move. A key resistance it needs to break is $26.00 to then re-test $30 and if breaks will go much higher. However bearish scenario is if rejected and test back to support and breaks $22.00 we can fall around $18-22. Trade safe and smart everyone !
Get ready for the $SILVER move! $SLVThe Q4 FOMC combined with mid December tax loss selling is a prime time to sneak your way back into the precious metals sector. It has been a great year for metals, and believe it or not the 4 month correction from August to December is perfectly normal and reasonable given history.
GOLD Trade Idea - Shorter term!XAUUSD - Technical view!
It's healthy to have retracement - but remember it is counter trend lower your risk.
Pattern: Descending Wedge formation (Smaller term could even be a bear flag once broken) Once measured - Target area: 1806.40 (Key fib retracement area)
Support areas: 1818.243, 1806.387, 1789.261
Resistance areas: 1848.181*, 1857.509
Target area: 1806.40 area (161.8 Fib Retracement area)
All the best,
Trade Journal TJ
(Just a trade idea, not a recommendation)
GOLD 19 YEARS AGOThe GOLD to SPX ratio currently looks similar to 2001. Where were you 19 years ago? I know where I was and I was clearly not buying enough gold! Hindsight is clear.. or should I say 20/20? Seeing as history tends to rhyme, precious metals look like the better deal over the next decade- especially if you hold them in your possession.
SILVER will bounce from Resistance. Short!
Hello, Traders!
SILVER is trading in a pattern
That is somewhat similar to the one of Gold
And I've just posted a short on Gold from the falling resistance line
Which is present on Silver chart too
So why do I intend to short Silver higher than Gold?
Its because on Gold chart the more important horizontal resistance is already reached
And forms a confluence with the falling one
In Silver, however, the horizontal level is way higher than the falling one
So I'll play it safe and will be shorting silver from the horizontal resistance
Sell!
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