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  2. Good Weds Am. Gold is down 1 to 1266, while Silver is down 2 to 1757 after a late collapse yesterday. Crude is down 15 to 4941. The USD is up 31 to 9896.
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  3. Week of 4/22/2017 Closing prices & Chg Over Last Wk---- Gold $1289.10-- UP 0.60 Silver $17.85-- down 66 Oil $49.62-- down 3.80 USD $99.88 -- down 58

Charts from the Lunatic Fringe.

Discussion in 'PM Trading/Stocks/Technical Analysis' started by Zed, Oct 21, 2014.



  1. louky

    louky Silver Member Silver Miner

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    Last edited: Mar 9, 2017
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  2. Zed

    Zed Size doesn't count! Midas Member

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    Maybe, one thing is for sure... the bashing has ceased for now. Those Kitco plots just don't look right without that precipitous drop! :confused:;)
     
  3. Zed

    Zed Size doesn't count! Midas Member

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  4. Zed

    Zed Size doesn't count! Midas Member

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  5. Zed

    Zed Size doesn't count! Midas Member

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  6. Zed

    Zed Size doesn't count! Midas Member

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    Where Are We Today?

    Hugo Salinas Price

    The US has been regarded as the West's leader since WW II. The US led with the objective of international cooperation to achieve orderly growth and prosperity for the countries led by the US.

    Now suppose you have a football team, and the quarterback comes out and says, "Quarterback is First!" and scolds members of his team, and insults one of his team-mates and sends him to the bench in disgrace. How long is that team going to hold together? Not very long, I would say.

    The deeper fact is that the status of the US as the world's leader, since the end of WW II, has ended and is finished. Mr. Trump's own plan to "Make America Great Again" is sending, by his own admission, a silent message: "America is no longer great."

    If the US does actually clamp down on imports, as Mr. Trump envisions, and begins to hide behind economic protectionism through taxes on imports in true "developing world" fashion, then the US will be blocking the spring from which the rest of the world has been getting its dollars; there will be a scarcity of dollars in the rest of the world and that will mean world deflation with all its consequences: a rash of bankruptcies around the world for lack of dollars to service debt.

    The US simply cannot have it both ways: it cannot issue the world's money, and indulge in economic protectionism. If the US goes for economic protectionism, then US dollar will, sooner or later, cease to be the world's money as steps are taken to replace the dollar.

    In human affairs, when one leader is gone, it is not long before another leader takes over.

    As the US passes from the scene as the world's leading country, who will inherit the throne of world leadership?

    With the defeat of Napoleon Bonaparte's combined French and Spanish fleets at Trafalgar in 1805, Britain obtained mastery of the world's oceans and of world trade for the next century and more. Later, with the defeat of Napoleon at Waterloo in 1815, world leadership settled on Great Britain.

    With the 1945 defeat of the Axis armies in WW II by the combined forces of Great Britain and the US, world leadership passed from Great Britain to the US.

    As 72 years of world leadership on the part of the US fade into history, who will take over world leadership? I suggest it will be Eurasia: Europe, Russia and China in economic cooperation.

    Will the transfer of leadership take place peacefully, or will it require a WW III?

    I do not think that anyone in the US wants a nuclear war with Russia and China. However, a great economic interest group in the US - the Military/Industrial/ Congressional Complex (as President Eisenhower initially identified this political machine) - lives on a gigantic yearly flow of funds from the US Government budget, and this flow depends on the perceived threat of an enemy for its existence. "No enemy" would mean no hundreds of billions of dollars a year for the coffers of this vast interest group.

    This is why Mr. Trump's initial proposal to establish better relations with Russia has been scrapped: the Military/Industrial/Congressional Complex has a vested interest in having Russia as an enemy.

    The great danger for the US is that while no single American or group of Americans may actually want a nuclear war with Russia and China, some small accident may rapidly scale into outright world war.

    In the past, Russia suffered the loss of tens of millions of its population because it patiently waited for its enemy to attack. Russia learned a very painful lesson by being patient. If war appears to be the definite plan on the part of the US, it is possible that Russia may strike the US first.

    This is where we are today.
     
  7. louky

    louky Silver Member Silver Miner

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    [​IMG]
     
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  8. louky

    louky Silver Member Silver Miner

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    2000/01 and 2007 called and said, it's all good guys. We're feeling nice and comfortable.
     
  9. Zed

    Zed Size doesn't count! Midas Member

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    What could possibly go wrong?
     
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  10. louky

    louky Silver Member Silver Miner

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    MM added 3.5 billion in gold futures last week

    [​IMG]
     
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  11. louky

    louky Silver Member Silver Miner

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    Testing the same area again this morning ahead of NFP

    [​IMG]
     
  12. louky

    louky Silver Member Silver Miner

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    Trading within this wedge, still some room

    [​IMG]
     
  13. louky

    louky Silver Member Silver Miner

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  14. louky

    louky Silver Member Silver Miner

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    I know you guys already saw how the box worked on the way up, but see again? 1197 top of the box and......bounce ;)
     
  15. louky

    louky Silver Member Silver Miner

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    Broke through that level

    [​IMG]
     
  16. savvydon

    savvydon Gold Member Gold Chaser

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    Are we going to see a rate hike? Sure seems that way.

    How will the markets respond? How will PMs respond?

    My WAG is down markets up metals, but what the hell do I know?:don't know::confused::D
     
  17. louky

    louky Silver Member Silver Miner

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    Seems like she will hike. Maybe every quarter until the bubble pops.
     
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  18. louky

    louky Silver Member Silver Miner

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    [​IMG]
     
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  19. louky

    louky Silver Member Silver Miner

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    [​IMG]
     
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  20. louky

    louky Silver Member Silver Miner

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  21. louky

    louky Silver Member Silver Miner

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    BTCUSD - bitcoin dipped below 1,000 on the news

    [​IMG]
     
  22. louky

    louky Silver Member Silver Miner

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  23. Zed

    Zed Size doesn't count! Midas Member

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    Silver daily,I switched focus to the daily just to illustrate where we are more clearly. We have just dipped below the 50DMA and are on the first support level. This looks like a good candidate for a low, a few days holding this level and we should be 'golden'. Ideally the next high tops ~ 18.50, if not it could be a lonnnnnnng summer. A golden cross would bouy the market, we really need that before May and the 'sell' mentality moves in for the dog days of summer.

    AG-D-20170312.png
     
    Last edited: Mar 11, 2017
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  24. Zed

    Zed Size doesn't count! Midas Member

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    Gold is similar, next rally needs to top ~1260 (200DMA)... ~1188 is support here but the round number of 1200 is looking good... the 11 handle seems to be inviting buying.

    AU-D-20170312.png
     
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  25. Zed

    Zed Size doesn't count! Midas Member

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    In short I think we are there, odds on.
     
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  26. Zed

    Zed Size doesn't count! Midas Member

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    USDX seems to be at a potential cross roads here. We have a potential lower top BUT IMO we are still trading within this upward structure/channel. Given the back drop of rising rates I would say that this still has some legs on the upside. It looks to be quite sober action in most respects, not looking over bought at all IMO. If this breaks down here it is a probable trend change and IMO it is basically signalling that the market is not buying the talk of an upward move in rates... which will apply more pressure on Yellen to move rates up... irony gotta love it.

    I will stick with USDX northward bound call... it ALWAYS goes harder and further than anyone thinks possible. JMO DOYDD etc, etc...

    USD-D-20170312.png
     
    Last edited: Mar 11, 2017
  27. louky

    louky Silver Member Silver Miner

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    $ can pop back up if yellen shows her tattoo. mini h&s inside the bigger h&s


    [​IMG]
     
  28. louky

    louky Silver Member Silver Miner

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    Bounced to the penny 1197.00 on first test. That's houdini esque.

    Know the box, it's all you need

    Above 1197 we're bullish

    Below 1188 bear territory

    Below 1179 bear market resumes



    My guess is we'll spend some time at 1197-1215
     
    Last edited: Mar 11, 2017
  29. louky

    louky Silver Member Silver Miner

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    One thing is certain, gold "should" have popped more on the $ action friday
     
  30. louky

    louky Silver Member Silver Miner

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  31. Zed

    Zed Size doesn't count! Midas Member

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    Hmmmmmmmm.....
     
  32. louky

    louky Silver Member Silver Miner

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    Lets do an 1197 back test, then 1215
     
  33. louky

    louky Silver Member Silver Miner

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  34. stAGgering

    stAGgering Silver Miner Seeker

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    Let's see an 1145 or less, as I sold @ 1236 and would enjoy acquisition discount and expect such.
     
  35. louky

    louky Silver Member Silver Miner

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    Cool, you should of waited for 60 to sell, but i guess you didnt expect it to get there
     
    Last edited: Mar 14, 2017
  36. louky

    louky Silver Member Silver Miner

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    1269 last target posted. Missed by 3 bucks. Impossible to see past there. Would need to observe how she acts at 1269-78-87
     
    Last edited: Mar 14, 2017
  37. louky

    louky Silver Member Silver Miner

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    There you go guys, Delivery.....
     
  38. savvydon

    savvydon Gold Member Gold Chaser

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    The miners exploded today. You have to believe that bodes well for the PM markets.
     
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  39. louky

    louky Silver Member Silver Miner

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    I expected a bit more work at 1215, but it cut like butter. That means 1251 might be back on the table
     
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  40. Goldhedge

    Goldhedge Modal Operator/Moderator Site Mgr Site Supporter

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