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AXSTONE'S FINAL WAVE (5)

savvydon

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The COT report on Friday was pretty bearish. But even if we punch down into the 1180/1190 area we may convert from bullish pennant to bullish flag.
 

bemac

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Ax,

First off, thanks again for the charts.

Secondly, how is silver looking? Am I wrong to think it's likely in a similar situation?
 

axstone

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Silver is a wild animal, I think we will see the Silver ratio drop when we are technically in a Bull Market for Gold. Right now the chart looks sloppy to me
I have no doubt silver will explode higher eventually. I have a target of 4000 gold CDN at a 15 :1 Ratio some day..(MINIMUM)
silver feb 23.png
 

Unca Walt

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Looks like a bullish rising pennant View attachment 81271 to me, time will tell

Interesting. If the gold price avoids super-gross manipulation, that bull-pennant seems to show a breakout to the upside.

Today is the 25th, so on that chart, gold should be about $1213. As I type this, it is $1237... clearly outside the pennant.
 

axstone

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high consolidation feb 24.png


There were trying to stick the GENIE BACK IN THE BOTTLE today.. LOL

still a very high consolidation..
 

Goldhedge

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^^ does the green slanted line show trend?
 

Nomis Elpmis

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Silver has what appears to me to be a cup and handle formation on a daily chart. Gold has the same. Combined with other indicators in other markets, I think the bottom is in for G & S. Plus the return of Axstone is a bullish indicator..:-)
SilverCupHandle.jpg
 

axstone

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With all due respect to axstone for his charting abilities,(( I have none, cant even read them) I don't see how they are of any value when dealing with such highly manipulated commodities like gold and silver.
I agree with you completely I was one of the first to jump up and down on the Manipulation subject, right there with Bill, at Goldrush 21 etc etc.

when I do a chart, you are actually looking at the result that day including manipulation. I believe if gold wasn't manipulated, gold could easily be consolidating today at 2,300 U.S or higher for example today.

I am not trying to predict anything, I am simply charting history on the FIX's close during the day. (its all we have to work with)

some day I believe you could have an overnight gap up like we have seen in the Iranian Rial
forex5xauirr20160220.jpg
 

southfork

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I still don't have a warm fuzzy feeling about gold or silver, every run gets beat back.
 

dacrunch

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FunnyMoney

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I still don't have a warm fuzzy feeling about gold or silver, every run gets beat back.
This recent run from the 1080 area to the 1250 area hasn't seen a "beat back" and when we ran to 1190 during this run, I posted "we get to 1225 just on fumes alone" so since fumes alone have taken us to over 1250 I don't see any significant beat back as possible now.

When we get to around 1400 is when they're going to attempt the next big beat down. (Axtone has posted the target as 1380 just a few posts above, and I would agree that 1376 to 1424 is the area of concern now
 

solarion

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I slaughtered a bird and smeared chicken guts. It tells me we're clear to 1437.95. :2 thumbs up:
 

axstone

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example.png
Its possible we go higher but come back down to the trendline before pushing considerably higher.