Silver will probably see a new low by end of July. It might not be under $30, but it would be close. Looking for $29.00-$30.25 on this current down leg. With everyone "expecting" the opportunity to buy silver in the mid to upper $20's, it probably won't happen like that. There's no guarantee that $29 silver will be offered.
If I draw a fairly conservative downtrend line from the early April peak across the tops of the May and June peaks, then a downtrend channel projects to $25 by end of July. But I doubt we'll see silver fall throughout the entire month. If it bottoms in mid-July then $27.50 would be about worst case.
<< <i>With everyone "expecting" the opportunity to buy silver in the mid to upper $20's, it probably won't happen like that. There's no guarantee that $29 silver will be offered.
>>
I agree!
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Better getcha some now because I don't think it's going back down to that any time soon. I think it'll re-test $50 before we see $32 again. I'll probably be buying a Dec./Jan. call on SLV next week. I'm kinda wishing that I hadn't settled recently on most of the 90% I had/have, but that's how this sh*t is...my outlook can change from month to month nowadays.
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I would like to see it go sub $30, (This would be an excellent buying opportunity) but I do not think it will do so. In fact, I think it has held up very well given the smack down that it received, and given the summer slow down. Buy the dips now, even though they are small ones to $33 to $34.
<< <i>this puts my prediction of $40 by the end of august in a bad light >>
You have as much chance of being correct as those guessing it may go to $30. My guess is the silver price will be closer to $40, by the end of August, than $30.
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<< <i>this puts my prediction of $40 by the end of august in a bad light >>
You have as much chance of being correct as those guessing it may go to $30. My guess is the silver price will be closer to $40, by the end of August, than $30. >>
If the labor data is any indication of continued good news coming from Washington I would not expect to see below $30 anytime soon and I agree it will be closer to $40.
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Some comments on silver's weekly chart trying to diagnose turning points.
From the standpoint of CCI and BB band %, silver has only made lower lows vs. June 2011 twice in the past 2-1/2 yrs. ROC was the lowest seen since fall 2008. One can also see a nice jagged 5 step decline in CCI and B%...similar to the bottoming in late 2010.
Silver could still spike up and then make one final drop into the low $30's again. Notice how silver rode down the lower blue BB line in the upper chart back in 2008. We're far away from such a point right now. Today those bands are wide apart and still need to be brought back closer together. Anytime in the past 3 yrs that the silver indicators got this low, silver rallied back for at least 6 weeks. In the 2 previous summers, silver effectively bottomed by end of June. So an extended bounce from here would certainly not surprise. Fwiw silver has now popped its head back above the uptrend line formed from last August. Assuming that new channel is maintained, it targets $43-$44.
My buy price is currently : $29.99 per ounce for Silver American Eagles , J&M bars, EngleHearts, and whatever else you would like to sell below $30. To be fair, I will extend this offer through the summer.
Anybody finding small premiums with the drop or is the decoupling back on? Cheapest gov-issue things I've seen are Libertads and the bullion pucks around $33/oz..
ChrisRx
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everyone "expecting" the opportunity to buy silver in the mid to upper $20's, it probably won't happen like that. There's no guarantee that $29 silver will be
offered.
If I draw a fairly conservative downtrend line from the early April peak across the tops of the May and June peaks, then a downtrend channel projects to $25 by end of July.
But I doubt we'll see silver fall throughout the entire month. If it bottoms in mid-July then $27.50 would be about worst case.
roadrunner
World Collection
British Collection
German States Collection
<< <i>With everyone "expecting" the opportunity to buy silver in the mid to upper $20's, it probably won't happen like that. There's no guarantee that $29 silver will be
offered.
>>
I agree!
(x2,Meltdown),cajun,Swampboy,SeaEagleCoins,InYHWHWeTrust, bstat1020,Spooly,timrutnat,oilstates200, vpr, guitarwes,
mariner67, and Mikes coins
<< <i>I don't know but my buying finger is starting to get itchy. >>
Ditto.
I think we'll see sub 30, but if we touch 32ish I'm resuming non puck buying on top.
I miss the good old days (last year!) when it was in the <$20 range. It seemed so expensive though...
<< <i>I don't know but my buying finger is starting to get itchy. >>
I'm sitting on 6 figures that belongs to customers of mine who I guess will tell me when to "hit it"
Coin's for sale/trade.
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You need one to sell investments you know.
roadrunner
"“Those who sacrifice liberty for security/safety deserve neither.“(Benjamin Franklin)
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Better getcha some now because I don't think it's going back down to that any time soon. I think it'll re-test $50 before we see $32 again. I'll probably be buying a Dec./Jan. call on SLV next week.
I'm kinda wishing that I hadn't settled recently on most of the 90% I had/have, but that's how this sh*t is...my outlook can change from month to month nowadays.
<< <i>this puts my prediction of $40 by the end of august in a bad light
You have as much chance of being correct as those guessing it may go to $30. My guess is the silver price will be closer to $40, by the end of August, than $30.
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<< <i>
<< <i>this puts my prediction of $40 by the end of august in a bad light
You have as much chance of being correct as those guessing it may go to $30. My guess is the silver price will be closer to $40, by the end of August, than $30. >>
If the labor data is any indication of continued good news coming from Washington I would not expect to see below $30 anytime soon and I agree it will be closer to $40.
Fred, Las Vegas, NV
From the standpoint of CCI and BB band %, silver has only made lower lows vs. June 2011 twice in the past 2-1/2 yrs. ROC was the lowest
seen since fall 2008. One can also see a nice jagged 5 step decline in CCI and B%...similar to the bottoming in late 2010.
Silver could still spike up and then make one final drop into the low $30's again. Notice how silver rode down the lower
blue BB line in the upper chart back in 2008. We're far away from such a point right now. Today those bands are wide apart and still need to be
brought back closer together. Anytime in the past 3 yrs that the silver indicators got this low, silver rallied back for at least 6 weeks.
In the 2 previous summers, silver effectively bottomed by end of June. So an extended bounce from here would certainly not surprise.
Fwiw silver has now popped its head back above the uptrend line formed from last August. Assuming that new channel is maintained, it targets $43-$44.
Silver weekly chart
roadrunner
To be fair, I will extend this offer through the summer.
Proud recipient of two "You Suck" awards
<< <i>So I guess the answer was NO. >>
C'mon I was CLOSE!
<< <i>
<< <i>So I guess the answer was NO. >>
C'mon I was CLOSE!
Hand grenades and horseshoes.......
Too many positive BST transactions with too many members to list.