Looking at the momentum of correction, it may be lower than 17..66, cause, this is only wave A of correction, wave C will unfold, after silver going up in wave B.
The pleasure is mine, d-lod. I enjoy your succinct observations, and the clarity with which you convey them.
I also seem to be on a similar 'wavelength' as you in regards to what I see unfolding in the PM arena. I believe the gauntlet has been thrown and we are in a period which will eventually lead us to nominal 'highs' in gold, and silver, although perhaps at the expense of much general economic good fortune.
In the short term I believe we are in a battle to establish the depth of the current corrective wave. How deep or shallow it finishes off at will shed some light on the power of the next up move.
Some good talking points when discussing the "New Green Deal" with renewable hawks. If You Want ‘Renewable Energy,’ Get Ready to Dig Building one wind turbine requires 900 tons of steel, 2,500 tons of concrete and 45 tons of plastic.
By
Mark P. Mills
Aug. 5, 2019 6:48 pm ET
Wind turbines in Palm Springs, Calif., July 13, 2017. PHOTO: PAUL BUCK/EUROPEAN PRESSPHOTO AGENCY
Democrats dream of powering society entirely with wind and solar farms combined with massive batteries. Realizing this dream would require the biggest expansion in mining the world has seen and would produce huge quantities of waste.
“Renewable energy” is a misnomer. Wind and solar machines and batteries are built from nonrenewable materials. And they wear out. Old equipment must be decommissioned, generating millions of tons of waste. The International Renewable Energy Agency calculates that solar goals for 2050 consistent with the Paris Accords will result in old-panel disposal constituting more than double the tonnage of all today’s global plastic waste. Consider some other sobering numbers:
A single electric-car battery weighs about 1,000 pounds. Fabricating one requires digging up, moving and processing more than 500,000 pounds of raw materials somewhere on the planet. The alternative? Use gasoline and extract one-tenth as much total tonnage to deliver the same number of vehicle-miles over the battery’s seven-year life.
When electricity comes from wind or solar machines, every unit of energy produced, or mile traveled, requires far more materials and land than fossil fuels. That physical reality is literally visible: A wind or solar farm stretching to the horizon can be replaced by a handful of gas-fired turbines, each no bigger than a tractor-trailer.
Building one wind turbine requires 900 tons of steel, 2,500 tons of concrete and 45 tons of nonrecyclable plastic. Solar power requires even more cement, steel and glass—not to mention other metals. Global silver and indium mining will jump 250% and 1,200% respectively over the next couple of decades to provide the materials necessary to build the number of solar panels, the International Energy Agency forecasts. World demand for rare-earth elements—which aren’t rare but are rarely mined in America—will rise 300% to 1,000% by 2050 to meet the Paris green goals. If electric vehicles replace conventional cars, demand for cobalt and lithium, will rise more than 20-fold. That doesn’t count batteries to back up wind and solar grids.
Last year a Dutch government-sponsored study concluded that the Netherlands’ green ambitions alone would consume a major share of global minerals. “Exponential growth in [global] renewable energy production capacity is not possible with present-day technologies and annual metal production,” it concluded.
You are right. You can see Savvydon, that pricing suggest a tug of war between bear and bull in recent correction against, previous one that was more swift and like falling knife.
You are right. You can see Savvydon, that pricing suggest a tug of war between bear and bull in recent correction against, previous one that was more swift and like falling knife.
Yes. it does appear that institutional control of the price of metals is becoming less ironclad, and is weakening against demand that is forming among those who see a dilution trend associated with money printing and negative interest rates and understand that metals hold their value better in the face of all of this debt creation. I believe it will be a trend that will become overwhelming at some point.
If we can break through from here then it will have the look of a five wave move from late may thru early sept, followed by a classic three wave correction. If that were the case, then we have to move thru 20 and would then be assured of starting a larger wave 3.
If we can break through from here then it will have the look of a five wave move from late may thru early sept, followed by a classic three wave correction. If that were the case, then we have to move thru 20 and would then be assured of starting a larger wave 3.
Silver has to work very hard to show its strength, it is a late runner but a very fast one. Gold, in last run has been appreciated 7.55 times while silver was 12.5+ times appreciated.
There would be three MAJOR wave I, III, V. Each one subdivided in three upward swing of 1, 3, 5. This again are made of i, iii, and v, (for simplifying our understanding). If we assume rally from $4 to 49 as MAJOR wave I, than we are in MAJOR III,
and further we are in wave iii of 1
Its confusing a but silver has started upswing, (i) 13.63 - 21.13 =7.5 (ii) 21.13 - 13.89 = 7.24 (almost double bottom (iii) 13.89 - 21.39 / 25.89
if we don't get into minute wave counting than expect 21.39 or 25.89
This time, not only technical but fundamental is ignored, the last rise was due to 3 Trillion in deficit now when it has reached 5 Trillion, nobody is shouting from rooftop. Even housing and stocks are giving fake heads.
The above figures were given for stop setting only, it should not come true savvydon. If it come true than we have not consolidated, and there will be another buying opportunity. or else with physical buyer, the gold has to go up.
Lastly the institutional buyers want you to sale falsely. so they keep pressure, evoking trigger points.
Prices are falling with velocity, 17.16 is still a support, if that breaks, the correction is still in its way, there is +ve divergence on short term MACD.
Prices are falling with velocity, 17.16 is still a support, if that breaks, the correction is still in its way, there is +ve divergence on short term MACD.
the big players have only one game and that is to play opposite of current positions.
if everyone has bought they will sell heavily, to initiate triggers. Many might have put triggers at 17.16, it was taken in with fast fall.
I think it was a "bailout". Someone had to get out of their position as it turned against them so it got bumped to get out flat or at a small gain............