Gold and silver are still technically in a bull market

[jim4silver]

Look at the chart in the link. If you go from 2005 till now and draw proper trend lines, we still are technically speaking in a bull market, although we have been trending bearish since 2011. Now all of this might mean nothing and silver and gold can be crashed to new lows and I would not be surprised one bit. I had not looked at long term charts in a long time and figured we would have a much worse technical position for both of these based on the past years' drops.

Here are good 10 year silver and gold charts. If you draw the appropriate trend lines we are still in the game. If we drop below 15 though Dan and the others could get their $12 wish just on a technical basis.


http://www.kitco.com/charts/popup/ag3650nyb.html

http://www.kitco.com/charts/popup/au3650nyb.html

Jim

 

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[TheCoinKid]

Technically speaking, we are, without a doubt, in a PM BEAR market. A bear market is generally defined as a 20% drop from a recent high that lasts 2 months or more. According to your chart links, we entered into a silver bear market in late 2011 and a gold bear market around mid 2012.

But, yes, we are still well above 2005 (and most other historical) levels, and I would agree, are still "in the game".

I'm still long-term bullish on silver (not really interested in gold) and short-term hoping for more buying opportunities.

TCK

 

[jim4silver]

Technically speaking, we are, without a doubt, in a PM BEAR market. A bear market is generally defined as a 20% drop from a recent high that lasts 2 months or more. According to your chart links, we entered into a silver bear market in late 2011 and a gold bear market around mid 2012.

But, yes, we are still well above 2005 (and most other historical) levels, and I would agree, are still "in the game".

I'm still long-term bullish on silver (not really interested in gold) and short-term hoping for more buying opportunities.

TCK

Thanks TCK. Sometimes I like to make up my own definitions. LOL Perhaps I should have said chart pattern not completely busted since 2005 or something like that.

Jim