Tag: silver chart

The broad weakness of the U.S. dollar supported precious metals and currencies. Gold has been saved from silver's Flash Crash destiny so far. Below are the updated charts for gold and silver.

Chart 1. Gold Daily: Breaking Upside

Chart courtesy of tradingview.com

The experimental clone chart for gold that I posted in April amazingly finished its move down as planned although later than expected. The anticipated reverse to the upside followed the end of the consolidation highlighted with the gray rectangle. Continue reading "Gold & Silver: Gold Breaks Up As Silver Licks Wounds" →

The Time Machine is the dream of many (especially those who bet on sports) and I’m excited to see if we will be able to travel through time shortly as physics scientists confirmed that it is possible. In the meantime, we could profit or at least be prepared for the future using the market’s time machine.

Last week a textbook example of a “Flash Crash” occurred in the silver market when the price dropped almost 2 dollars (10%) within a minute! It’s amazing that gold was untouched by this event creating an arbitrage opportunity as all discrepancies are subject to speculative trading. That’s why I put the silver analysis first this time to show the map for a possible gold move. By the way, it is quite often that silver is the principal instrument for market movement as it has less liquidity and therefore more opportunities for market “gangsters” or “pirates” to attack it.

Chart 1. Silver Daily

Chart courtesy of tradingview.com

After silver breached the previous major low established last December at the $15.64 mark the map has changed. What was tagged as a first move up turned out to be a tiny countertrend conjunctive move within the small complex correction contoured with the red downtrend. The Flash Crash drop almost reached the downside of the red channel, which could finish that small complex correction. Continue reading "Gold & Silver: Time Machine" →

People record history from ancient times only to find that nothing is new in this world and everything repeats in cycles, waves, high and low tides, and therefore it is quite useful to have those historical records to project the future as it is another human propensity.

It is always a big challenge to be the first in doing something as you face uncertainty, and those who go next can learn from the achievements and mistakes of the pioneers. A few days ago, my eyes caught an interesting similarity in the chart history of gold’s price, which could give us a clue of an upcoming price development and I am happy to share it with you below.

As you may already notice from time to time I post different experimental charts, which use a variety of uncommon approaches in analyzing the markets to expand the scope of our vision. In this post I used the clones of the historic moves, which could shed light upon future moves.

I squeezed the charts to let both legs of the current upside move to fit in the snapshots, that’s why I would recommend you to open both graphs in a separate window for a comfortable view. Continue reading "Gold & Silver: History May Repeat" →

We've entered the period where patience is paid generously as it is too early to buy the gold now and too late to buy the flying silver. I don't recommend a countertrend sell as corrections are very tricky and require an extensive experience. It is good just to sit back and watch the price action.

Chart 1. Gold Vs Silver 4H: Huge Divergence

Chart courtesy of tradingview.com

I refreshed the previous comparison chart, which starts from the low in the gold price established on the 10th of March.

Last week the gap between these top metals only widened with silver's gain almost exceeding two times that for the gold. The Gold/Silver ratio dropped severely from the 71.3 oz top (March, 23) to the 68.4 oz close last week losing almost all of the gains achieved in March. Continue reading "Gold & Silver: Gold Is Looking For Support As Silver Is Testing Resistance" →

We should wait for the market to show us the way by moving the price on the chart with visible changes. I posted the fresh tactical map for both metals 2 weeks ago using the daily time frame. The market is moving within my expectations so far and I decided to post an update using lower time frame charts, which could supplement the picture as no big levels were triggered yet. It would be useful for those who are not yet in the game and are looking for fresh opportunities to enter.

I dedicated the very first chart to the comparison of top metals’ behavior as several times before we witnessed that one top metal signals upcoming changes in the market earlier than the other. Putting them side by side clearly shows the differences in their price behavior, not seen in the separate charts.

Chart 1. Gold Vs Silver 4H: Leader Vs Laggard

Chart courtesy of tradingview.com

The starting period for the chart above was chosen for the low in gold price established on the 10th of March as silver dropped to a new 5 day low later on the 15th of March. It was the first good signal for silver bugs to keep the metal as gold didn’t confirm that drop. Continue reading "Gold & Silver: Gold Was Benched, Silver Is Still In The Game" →