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Crossfitz · 03-24-2012, 09:01 PM

Forum,
Has anyone seen the Descending Triangle on silver spot price on the weekly netdania chart? Of course traditionally (this is a bearish signal) and if you follow it to it natural conclusion silver will be around $7 oz. I don't believe that the fundamentals point towards a down market but the technicals are. I wanted to get the forums thoughts.

kcrone1 · 03-24-2012, 09:08 PM

TF report worth reading for any and all silver long's feeling blue right now,,,cheered me right up!!

http://www.tfmetalsreport.com/blog/3566/...s-its-2009

03-24-2012, 09:43 PM

If the paper silver price is taken down to the single digits I will sell everything that's not nailed down, and I will max out my credit cards on the way down. Oh, that would be so awesome. The problem is that there would be no physical silver to buy, under $30 it might get cleaned out. It's a lovely dream, though.

silverexplosion · (This post was last modified: 03-24-2012 10:14 PM by silverexplosion.)

$7 an ounce....thats retarded at best. Absolute lowest possible price in silver would be $23. Everything for sale on the planet has a low point that start a buying frenzy. At $23 per ounce, even generic silver will be sold out...thus a MASSIVE explosive price increase due to frenzy buying, and industry that NEEDS silver would pay hundreds, if not a thousand per ounce. $7 per ounce, not ever again. $17, not ever again, $23, possible, but probably never again in physical price anyway. My god dude, silver will be a rare earth by 2020-2025. By 2020, I can't imagine what it will be worth. If we have inflation of 3-10 percent increase up to 2020, I would think silver should be valued at between $200-$500 per ounce because of the coming shortages...thats my guess. If you bought silver at $48, $27, $23, $35, whatever you paid for yours, it won't really matter when silver has shortages, because from there it will go to its true price....hundreds per ounce.

Mojofabulous · 03-25-2012, 12:38 PM

(03-24-2012 09:43 PM)agsilverbear Wrote: If the paper silver price is taken down to the single digits I will sell everything that's not nailed down, and I will max out my credit cards on the way down. Oh, that would be so awesome. The problem is that there would be no physical silver to buy, under $30 it might get cleaned out. It's a lovely dream, though.

What the hell are you talking about, get a friggin prybar and sell that stuff too!

Dudesome · 03-25-2012, 04:58 PM

the weekly sure looks bearish. As for silver ending at 23, folks obviously you dont know how the market works... people tend to get scared of low prices. you guys are only judging according to your own estimations. Now take into count all those sayin that silvers bubbles over. they are the majority. if it was otherwise, dollar would be dead yesterday

Silver_n00b_92 · 03-25-2012, 05:38 PM

they should bring it all the way down to $1 per oz so I can buy all the remaining world supply

slow to learn · 03-25-2012, 05:53 PM

I see alot of floor to get though, I see were supply has become demand. Im exspecting upside after this retest!

Crossfitz · 03-25-2012, 06:48 PM

(03-25-2012 05:53 PM)slow to learn Wrote:

I see alot of floor to get though, I see were supply has become demand. Im exspecting upside after this retest!

I am truly the one that is "slow to learn" because I do not understand your graph. Could you please explain.

Dudesome · (This post was last modified: 03-25-2012 07:13 PM by Dudesome.)

actually i dont get that graph either. how is it relevant?

slow to learn · 03-25-2012, 07:10 PM

There is a tone of demand or support @ or around 29.00 so in order for price action to penetrate that level would take quit some effort and I dont see it in the fundimentals or the technicals! I just see a revist or a test of the lows and choppy ride back up! But I have been wrong before! Im having trouble with loading my silver charts and dont know why ? I will have to call my broker tomarrow so I cant see current price action and see if its above or below the T-3 Moving Adverage. This would tell me more!

Cheers Slow

Crossfitz · 03-25-2012, 08:03 PM

(03-25-2012 07:10 PM)slow to learn Wrote: There is a tone of demand or support @ or around 29.00 so in order for price action to penetrate that level would take quit some effort and I dont see it in the fundimentals or the technicals! I just see a revist or a test of the lows and choppy ride back up! But I have been wrong before! Im having trouble with loading my silver charts and dont know why ? I will have to call my broker tomarrow so I cant see current price action and see if its above or below the T-3 Moving Adverage. This would tell me more!

Cheers Slow

ok, 29.00 is around where the bottom (support) of the descending triangle is. Coincidence????

Dudesome · (This post was last modified: 03-25-2012 08:20 PM by Dudesome.)

(03-25-2012 08:03 PM)Crossfitz Wrote:
(03-25-2012 07:10 PM)slow to learn Wrote: There is a tone of demand or support @ or around 29.00 so in order for price action to penetrate that level would take quit some effort and I dont see it in the fundimentals or the technicals! I just see a revist or a test of the lows and choppy ride back up! But I have been wrong before! Im having trouble with loading my silver charts and dont know why ? I will have to call my broker tomarrow so I cant see current price action and see if its above or below the T-3 Moving Adverage. This would tell me more!

Cheers Slow

ok, 29.00 is around where the bottom (support) of the descending triangle is. Coincidence????

wait I thought it was 26... what triangle are u talking about? the one you drew on the weekly?

03-25-2012, 08:50 PM

Auh heck, maybe they will just pay us to haul it away. Smile

I wouldn't worry to much. Things will be picking up here real soon, i'm thinking may 1st could have some significance. If it doesn't then the election in November certainly will. I can hear those printing presses clackin away already. Big Grin

slow to learn · 03-25-2012, 09:14 PM

(03-25-2012 08:03 PM)Crossfitz Wrote:
(03-25-2012 07:10 PM)slow to learn Wrote: There is a tone of demand or support @ or around 29.00 so in order for price action to penetrate that level would take quit some effort and I dont see it in the fundimentals or the technicals! I just see a revist or a test of the lows and choppy ride back up! But I have been wrong before! Im having trouble with loading my silver charts and dont know why ? I will have to call my broker tomarrow so I cant see current price action and see if its above or below the T-3 Moving Adverage. This would tell me more!

Cheers Slow

ok, 29.00 is around where the bottom (support) of the descending triangle is. Coincidence????

You know they say the charts dont lie! I dont trade paper silver so not really up on it. I keep a chart of silver up because I buy the dips in physical silver! I trade crude oil and can only handle one instruments price action at a time. I have very smart friends who trade silver and will get there thoughts!

Crossfitz · 03-25-2012, 09:32 PM

(03-25-2012 08:14 PM)Dudesome Wrote:
(03-25-2012 08:03 PM)Crossfitz Wrote:
(03-25-2012 07:10 PM)slow to learn Wrote: There is a tone of demand or support @ or around 29.00 so in order for price action to penetrate that level would take quit some effort and I dont see it in the fundimentals or the technicals! I just see a revist or a test of the lows and choppy ride back up! But I have been wrong before! Im having trouble with loading my silver charts and dont know why ? I will have to call my broker tomarrow so I cant see current price action and see if its above or below the T-3 Moving Adverage. This would tell me more!

Cheers Slow

ok, 29.00 is around where the bottom (support) of the descending triangle is. Coincidence????
wait I thought it was 26... what triangle are u talking about? the one you drew on the weekly?

your right, it is 26. I sent the message first and then checked the chart and realized I made the mistake. Thanks for keeping me honest.

Dudesome · 03-25-2012, 10:11 PM

@Slow2Learn

mate stick with this market alittle longer and you will be amazed how these charts do lie big time Big Grin

There is a reason why you wouldnt wanna trade silver. You just wont see price manipulations like that with crude oil.

slow to learn · 03-25-2012, 10:22 PM

(03-25-2012 10:11 PM)Dudesome Wrote: @Slow2Learn

mate stick with this market alittle longer and you will be amazed how these charts do lie big time There is a reason why you wouldnt wanna trade silver. You just wont see price manipulations like that with crude oil.

I hear ya, silver is the most manipulated market there is! I am a scalper so only in the market for minutes at a time several times a day. I trade crude because im adicted to its volatility! It can give me several trade setups in a short amount of time! So im not sitting there all day waiting for trade setups! I have friends that trade silver and do well. But crude oil makes the world go round!