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Charts from the Lunatic Fringe.

jelly

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Quick look at silver. A very simple view on the action going forward.
Silver had a clear breakout at 14.90 in late December. We should have a pullback to consolidate the gains, and possibly retest the breakout level before continuing higher. $15.25 is the first support zone for the pullback.
Also important is the downtrend line from the 2016 highs. The good news is that silver doesn't have much higher to go before it breaks that downtrend line. Currently around $16ish depending on how you draw the line. (See big picture view)
silver.png


Big picture view of silver below. Daily chart starting mid-2016. It will likely be testing the downtrend line soon.

Silverbigview.png
 

Goldhedge

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[QUOTE="louky, post: 1550834, member: 17173"
[/QUOTE]

This looks like a bad sign...
 

D-FENZ

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Quick look at silver. A very simple view on the action going forward.
Silver had a clear breakout at 14.90 in late December. We should have a pullback to consolidate the gains, and possibly retest the breakout level before continuing higher. $15.25 is the first support zone for the pullback.
Also important is the downtrend line from the 2016 highs. The good news is that silver doesn't have much higher to go before it breaks that downtrend line. Currently around $16ish depending on how you draw the line. (See big picture view)
View attachment 122446

Big picture view of silver below. Daily chart starting mid-2016. It will likely be testing the downtrend line soon.

View attachment 122447
Looks like it's forming a classic bull pennant to me.
 
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On Netflix: "The company also reported free cash flow burn of negative $1.3 billion for the quarter, bringing total outflow to $3 billion for the year. Netflix executives expect cash burn to be similar in 2019 before improving." With a stock price that high, I can imagine they would want to sell some stock to pay down that. I think they only need to sell 8.5 million shares to make up for that $1.3 billion.
 

savvydon

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Quick look at silver. A very simple view on the action going forward.
Silver had a clear breakout at 14.90 in late December. We should have a pullback to consolidate the gains, and possibly retest the breakout level before continuing higher. $15.25 is the first support zone for the pullback.
Also important is the downtrend line from the 2016 highs. The good news is that silver doesn't have much higher to go before it breaks that downtrend line. Currently around $16ish depending on how you draw the line. (See big picture view)

Big picture view of silver below. Daily chart starting mid-2016. It will likely be testing the downtrend line soon.
Looks to me that silver has once again borne the brunt of classic short selling market suppression. Each time there is a beat down silver leads the way. The market is smaller and thus easier to push around than gold. So far the precious metals markets don’t really seem to be having any of it. It is either going to have to take a colossal punch on the part of the big boys to break back down through support, or else they will let the submerged beach ball rise up and shoot through resistance. We c...
:popcorn:
 

louky

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On Netflix: "The company also reported free cash flow burn of negative $1.3 billion for the quarter, bringing total outflow to $3 billion for the year. Netflix executives expect cash burn to be similar in 2019 before improving." With a stock price that high, I can imagine they would want to sell some stock to pay down that. I think they only need to sell 8.5 million shares to make up for that $1.3 billion.
Crash it lol

 

Zed

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On Netflix: "The company also reported free cash flow burn of negative $1.3 billion for the quarter, bringing total outflow to $3 billion for the year. Netflix executives expect cash burn to be similar in 2019 before improving." With a stock price that high, I can imagine they would want to sell some stock to pay down that. I think they only need to sell 8.5 million shares to make up for that $1.3 billion.
Cash burn that a jnr goldie would be proud of! LOL
 

Goldhedge

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Spot the gold buyer...

Got my foot in the door, but tired of waiting for the “big one” to start...

Thinking of getting in with the crowd on the left.... I may need intervention!
 

jelly

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Gold is getting wound pretty tight. I think it's gonna break very soon. Above 1296/1300 we are heading higher. Below 1287 and we head lower.
Silver already broke it's support, so my inclination would be that gold follows it lower. But the market will tell us...

gold.png


Another view of the hourly chart:

gold.png
 
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jelly

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To support a Bull perspective:
GDXJ has formed a picture perfect "W" formation, or double bottom. Should stay above $30; below that and it negates it.
GDXj.png
 

Zed

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Got my foot in the door, but tired of waiting for the “big one” to start...

Thinking of getting in with the crowd on the left.... I may need intervention!
David Morgan :- The silver market will wear you out or scare you out before it goes.


Gold ditto...


I try and keep that in mind when it gets tough.


Yes an intervention with a bottle of JD, goldbug style! LOL.
 

Strawboss

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Gold hourly looks like a bull flag to me...
 

Zed

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Gut saying it will break lower from here... thus I believe the odds favor a break higher.
LOL.

Now you have the mind of a true trader grasshopper!

Somewhere out there in the universe is a place where this all makes sense.

We are probably not allow to visit.
 

jelly

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Playing around with trading view. I like their charting software, and it comes with more features than I'll ever use.
Put some Fib lines on this recent move starting at the 1180 low back in August '18. Assuming this is the completion of the first wave higher, projected pullback targets.
.382 fib level is at Louky's 1251 area. .5 is at 1240. Ironic the fib levels also lay at the major support/resistance areas. In a simple & perfect world, we head to .382 and continue higher.
gold.png
 
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louky

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Blogger experts always looking for reasons to blame..

The Banks have increased the total float of Comex gold contracts by over 25% in just the past 30 days. THIS is why price is stuck. What would happen to an equity if the float increased 25%?
Nah, just top of the box. 1296. Posted for years. Much simplier.
 

louky

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Playing around with trading view. I like their charting software, and it comes with more features than I'll ever use.
Put some Fib lines on this recent move starting at the 1180 low back in August '18. Assuming this is the completion of the first wave higher, projected pullback targets.
.382 fib level is at Louky's 1251 area. .5 is at 1240. Ironic the fib levels also lay at the major support/resistance areas. In a simple & perfect world, we head to .382 and continue higher.
View attachment 122518
1179 bottom of lower box, below that it's pure bear market (posted two years ago)

1251 historical pivot between current box and lower box, 1197 top of lower, 1269 bottom of current
 

louky

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1278 bottom of inner box key right now, if it holds then look for a pop


All I know for sure is 1278 in focus, 1305 historical pivot above and 1318ish-1322ish is big fib zone of current moves


1318 Close = 76.4% of 1360 to 1184 on a closing basis.

1318 = 76.4% of 2016 High at 1377 to December 2016 low of 1124.

1322 = 76.4% of 1369 to 1167 on an intraday bas
 

savvydon

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1278 bottom of inner box key right now, if it holds then look for a pop
I think this is a good pivot point to watch to help with deciding where the GDX will go in the short to intermediate term. We are at a place where a pop in the metals will probably assist the miners. If the miners get a pop we are looking at a cross of the 50dma above the 200dma which should spark some momentum trading. If we crash down through the Louky box I think the GDX heads lower. I bought a few June GDX 22 calls yesterday and will decide whether or not to scale further in based on where we head next week.

screenshot_88.png
 

louky

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Fake news sugar high peaked

Screenshot_20190119-094923_Google.jpg



Fake news since dec 24th bottom that, "china talks going well", "deal soon"....blah, blah, blah. Non stop every 12 hours....

Screenshot_20190119-095142_Google.jpg




Same broken record fake news, never fails. You can predict it just like the monster bounce (liquidity injection) off the moving average at 2350 s&p

IMG_20190119_095420.jpg
 
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louky

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Trump says he lowered gas prices and life is good now! Guess when everyone is working two jobs just to keep the water on it doesnt help much. Sentiment crashing along with it...

IMG_20190119_095809.jpg
 

louky

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Will America's index become great again, or lead the way back down like it did from sept to december?

 
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