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Silver Triple Top coming soon???
HalfDime
Posts: 419 ✭✭✭✭
If we look at the long-term chart for the price of silver, there is an interesting formation happening. Usually major price spikes can top out and retrace to lower levels, and that has happened twice with silver in the past 45 years. This appears to now be setting up for a triple top for silver.
Silver will need to break above these levels to continue higher obviously. But there is also the chance it spikes to a triple top, and sells off dramatically.
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The two $50 spikes were very short in duration.
The current trend is more gradual.
I posted this last year. Ignoring the spikes, the general trend seems to be this line:
And both were anomalies: Hunt brothers and great financial crisis
No Way Out: Stimulus and Money Printing Are the Only Path Left
Okay, But you didn't give us your insight into where it may be going from here to say end of year.
up?
No Way Out: Stimulus and Money Printing Are the Only Path Left
Yup!
Many would call that a cup and handle, a bullish chart.
"They" sure don't want that triple top.
I knew it would happen.
Pretty sure whoever "they" are, "They" could care less. THKS!
"They" run SLV, and "they" are running out of silver to lend. When they do run out, they will settle your account in cash and you won't be able to get back into the silver market at anywhere the price that silver is right now. Good luck.
I knew it would happen.
You can forget the past. The charts are useful in telling how much more it is today.
``https://ebay.us/m/KxolR5
They and Me are doing just fine at the moment. I used to think it was all luck but these days it's appears all that's necessary is just a little common cents. Plan accordingly. RGDS!
Someday blitz is going to have to teach class.
Past performance is no guarantee of future performance.
If we assume it to be true the market is rigged and short sellers are to blame for the last few decades, then I'd venture a guess they are going to gradually close these out but over a long period of time. That way we don't see a squeeze situation or even any margin calls.
My guess is the long game plan is to hold physical assets as the government prints more money and ride this out until bread costs a wheelbarrow full of money.
Then they're not technically losing anything at when they close their short positions since it's all in property and precious metals and the dollar means nothing. This will pass the consequences from malicious short sellers to working people who can't afford any assets at all.
Actually if one has a strong and disciplined process then performance can and usually is consistent and repeatable.
Knowledge is the enemy of fear