Silver weekly chart

[jim4silver]

Has just finished forming a nice inverse head and shoulders. This is generally regarded as a bullish pattern.

Further, you can see the blue line (50 day moving average) is about to cross the red line (200 day moving average) in an upward movement, this is called a "golden cross" and is generally regarded as a bullish sign. It hasn't happened yet but looks imminent if the price holds up.


http://schrts.co/DTFUryRR

 

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[A2coins]

I sure hope so

 

[Johnnybravo300]

The $18.50 level is supposed to be some resistance but we will see. It's already been past there.
With the moves in gold, the spring is wound tighter than ever.

 

[xr7ator]

Palladium is where the big $'s at. $2841.50 an ounce!

 

[Johnnybravo300]

Gold breaking over 1700 again should be good for ag but its stuck tight so far.
97:1 gsr.

 

[Johnnybravo300]

Wow jmbullion now has $299 minimum order and longer delivery with premiums really rising.
Apmex is behind a few days on shipping too.
Jmbullions busiest selling day ever was yesterday.

 

[Mackaydon]

Will we see my $12 buy price during this virus/oil crisis?
Don.....

 

[Johnnybravo300]

Provident metals $299 minimum also.
All buyers and no sellers.
Supply dwindling FAST.

 

[jim4silver]

Will we see my $12 buy price during this virus/oil crisis?
Don.....

I don't think so, but if we had a quick drop to that level I doubt you would find any physical metal at those prices. My view is that the big sell off in PMs is large traders/institutions selling off assets to cover other losses or margin calls, etc.

It was just announced today that the interest rate is basically zero now and have re-instituted QE (the kind like before). You saw what low interest rates and QE during the Obama years did for silver (up till 2011 when it crashed), we should see similar. But it might take a while to kick in.

I no longer believe silver will be the savior we've been led to believe by the pm pundits who've been wrong consistently since 2011, but it will provide a good trade at some point kind of like Bitcoin was for a time. I believe we will see a Bitcoin moment in silver and gold that will see silver over $100 but I don't think it will last forever.

https://www.cnbc.com/2020/03/15/fed...-700-billion-quantitative-easing-program.html

 

[Mackaydon]

Jim,
I hope we're both right, but in the order of first $12 then $100.
Don.....

 

[Mackaydon]

Silver at $13.15; getting close to my buy price of $12.
But will I get greedy and wait for lower??
When it's in 'free fall' why jump in?
Don.....

 

[Mackaydon]

Silver hits $11.70. And after waiting years for it to get down to $12 before I jump back it--I hesitate--waiting for a sustainable turnaround.
Don....

 

[jim4silver]

Silver hits $11.70. And after waiting years for it to get down to $12 before I jump back it--I hesitate--waiting for a sustainable turnaround.
Don....

Ha, you got your wish! Would be interesting to know if anyone can buy any decent silver at usual premiums?

One option to play dips like this is SLV shares. I would not substitute owning physical silver with SLV.

But to play for short term profits it works well. If you are more of a risk taker, SLV options are good play for more leverage.

 

[Mackaydon]

Jim,
I stopped taking spec risks when I was half my current age, but I'm tempted now when silver flirts below $12.
Don.....

 

[Johnnybravo300]

BGASC is completely sold out.
Expect others to follow? Making history folks.

 

[rsc]

$12.64 today........ AMAZING

 

[EQ8]

BGASC is completely sold out.
Expect others to follow? Making history folks.

Sold out? Or stopped selling??
I believe the latter..
And they won't be rushing to buy it if it does go to $100.
And if it should go to $100 the market will flood so fast it will be $2 within a week.
(Just my worthless opinion, of course)

 

[Mackaydon]

$11.65 at 10.40 PST. Teasing me to buy, but I think there is still more 'slack in the line'. DOW under 20k and gold in the 1400s. Wait... wait.
Don..

 

[Diver_Down]

$11.65 at 10.40 PST. Teasing me to buy, but I think there is still more 'slack in the line'. DOW under 20k and gold in the 1400s. Wait... wait.
Don..

I too think there is slack in the line as the news cycle won't be getting better for some time. Dow selling off another 10%. The roller-coaster will continue. If Gold gets to $1200, I'm going to jump in front of that train.

 

[Mackaydon]

Today, cash is King; not gold, silver, oil or stocks.
Hold cash until there is a solid reversal.
Thankfully, that reversal will come from readily available news.
Don.......