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Silver Wheaton Corp. Message Board

  • barbpete2002 barbpete2002 Sep 5, 2005 5:35 PM Flag

    Will Silver Rise This Week?

    I sure hope so! The 50 day moving average (dma) is currently at 7.03 and the 200 dma is at 7.08. These are important numbers technically to keep an eye on. If silver can get its 50 dma above 7.08 this would be a bullish signal and higher prices would sure to follow. IMO we have a good chance of this occuring do to the added liquidity, (Katrina crisis), I'm sure the Fed is pumping into the system. Also over at the Crimex the commercial manipulators are getting ready to shuffle the deck again. Let's hope it turns out to be for the silver price to rise. This last downward push, that they engineered, I'm sure was costly to accomplish. Personally if silver could go up and make a new high even just ever so slightly above the 2004 peak, we would see some nice gains following this as the long term chart would again appear very bullish. In the mean time keep accumulating when price is weak. Good luck to all who believe in the silver story.
    All the paper the Fed is printing is not the kind of macroeconomic practice that supports the $. There is no gold behind the Greenspanback, only air and "In God We Trust" printed on it. It is only becauce of God's grace that the $ remains the World's reserve currency, given the levels of Federal Budget, Current Account, and Trade deficits and the rising tide of M-3. We are on borrowed time with this sort of irresponsible currency management! Got gold?

13.90-0.56(-3.87%)Oct 12 4:02 PMEDT