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Silver Wheaton Corp. Message Board

  • chemaes44 chemaes44 Jun 12, 2013 4:14 PM Flag

    Foreshadowing of some bullishness tomorrow

    Just before gold fell $200, I saw some behavior with gaps on the gold chart that was very unusual and it seems that foretold gold was going to fall $200.

    Today, I saw similar behavior for silver but from a bullish perspective. I'm not saying silver is going to move 20%, but the behavior is similar bullishly to golds just before its bearish run.

    The number in question is 21.674. from a bullish perspective it is the absolute lowest price silver should never close under on a 5 min basis for bullishness to remain in effect. However, there are gaps just below this price that silver is refusing to fill, even though silver only has to fall 2 to 3 cents to do it. This is what gold did in April before it had a big move.

    Add to this there is a massive bid, that looks like a good till fill order waiting at 21.65. This suggests silver may touch 21.65 down to 21.65 but if it never closes under 21.674, it will go to 22.13 AT a MINIMUM tomorrow. Add to this, that even though silvers bullishness this morning seemed to die in the afternoon gold's run up this morning remains intact These things are leading me to believe either tomorrow will be a remarkable day bullishly (and most likely) or the PM's will get sacked tomorrow hard . Given the "tell" that gold gave before I'm guessing the former.

    I think if you were waiting for a real good bullish opportunity, you should be ready tomorrow. If silver can move to 22.13 and then pass 22.36, I think the bear trend is broken. If somehow silver makes it down to 21.614 and stays there for any period of time, what I've written is garbage.

    It is fascinating stuff, especially when you consider the dollar has been falling against every single currency for the last couple of weeks.

    Get ready
    chem

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