These numbers were extracted from the USA Gold website, which lists POG history by year. This drop appears on gold charts as a straight line dropping, as off of a cliff. The exact hourly drop couldn’t be found but, given past history, it usually happens on the NY spot gold open in mere minutes before the greater population of gold market participants have time to react.
How anyone can give any credulity to “wave analysis” when markets are thus manipulated is beyond belief. The only thing that is predictable, as long as those who are in a position to manipulate this market ARE NOT BEING HANDED A PRISON JUMP SUIT, is that “the best laid plans of mice and men, often go awry” (speaking of the wave analysis crew) and are going to experience yet another failure as their “crystal balls” experience yet another blinding snow storm. The only caveat to this is if a deep pockets “white knight” comes along and has enough wherewithal to counter and send pricing in a direction that reflects the abject failure of counterfeit fiat monopoly money. That’s a tall order for any opposing the “money trust” with unlimited ability to print or digitize “legal” tender and associated financial instruments (derivatives, for example).
hapi, read "Full Faith and Credit" by James Cook, $100.00 a day moves in gold will become common. 5 / 30 / 12 was support. It just happen that a iii of V wave broke that support and the combination often finds no buyer and a lot of stop loss orders
Silver futures High 22.20, Low 20.62 , moved down 1.58 . . . The move 20.62 to 21.48 was .86 or about a 54% retracement, the retrace higher might be over or continue higher to 56.25 or 62% . . . the morning will tell. The retrace for a Wave 2 can be 100% or in this case back to 22.20. If price moves above 22.20 Cowboy will have been right and the last 17 days will have been a sideways Wave 4, if silver price moves below 20.62 or SLW price moves below 25.12 then the wave up will be over, completed with a small fifth wave at the beginning of all that congestion. . . . A completed wave up here would be labeled Wave I of 3 and the retrace Wave II of 3, wave 2s can retrace 100% or in this case down to SLW 19.23 . I favor the idea that we are in Wave II of 3, a retrace that will take price down to the 22.80 area.
Don't mind the thumbs down, but its a waste of time except for the trolls, grin, I must be a troll? If you disagree, be brave and tell us all why, we are not above learning something! The 21.48 silver price in the below post held overnight. 21.41 was support for a while, its seems to be resistance now. Last 21.36 vs 21.33 . . still need to drop 4 cents to support a lower trend today.