Silver: Are We Heading Back to Normal?

COMEX:SI1!   Silver Futures
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Just a simple observation, the price of silver is hitting 15.00 major level, which was the ceiling for a secular 25-years sideways range. We might find some support here. Breaking 15 might extend the reversal to prices we never expected.
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My best regards,
shall XAGUSD be 30 years of cup formation?
Seems to have bounced off ~$15, nice call
Sentiments are at extremes now , everyone thinks the $USD will keep going higher and people who were pumping Gold and Silver at $1900 and $50 are all bearish now, you get bearish at $50 not at $15 , I am not talking for a trade, I am talking longer term, the $USD and the stock market will come to a very ugly end. I know you are a trader and your view is for a trade set up, but for safety longer term ill be out of anything $USD related , the country is bankrupt and there is no way out. The NOK which is the most sound among paper currency lost close to 25% of its value against the USD in the last 6 months, give it a year and youll see the 5,50 or lower again. Norway has a surplus and no debt, a country that is growing, interest rates officially at 1.5 and at banks you can earn 2.5%, real estate prices in a steady uptrend, although i live in the US , all my assets are in NOK, Norwegian real estate ,Jerusalem real estate and in Palladium. I trade in and out of anything, but for the future I know I am OK.
+1 Reply
gunne821 LudmilaHanania
Hi Ludmila, I do believe the US markets have gone ballisitc as well, and Norway is a good place to put your money. As for the case of USD against the EUR, I still prefer the greenback above something that should have never existed in the first place ;). I live in Europe and since the introduction of the EUR, everything went downhill. Especially, since 2004 when they expanded way too fast...Now a triple recession coming up...How long can it continue to exist, I start to wonder...
Hi gunne821, I agree with you, too bad what they did to Europe and the EUR currency was a bad idea , it is a mess. But the US is my opinion is going downhill too, we have jokers as politicians, actually the whole world is a mess. I know on TV we are discussing technical analysis, but many posters here ignore the long term picture which is not pretty. Sorry if I offended anyone with my opinion, now back to trading !!.
gunne821 LudmilaHanania
That's why most of us are visiting this site, I get some trading ideas ;). And yes, I am getting bearish as well...a simple look at the S&P chart gives me the shivers, that angle it is rising since 2009 is frightening, and I think we got a warning a couple of weeks ago...I am off to bed now. Good luck.
What's the best way to play silver, in your opinion, Technician?
At the time being this is just an observation, not long not short now. But if i see signs of bullish rebound of 15, i would look to long for a small pullback.
gunne821 Technician
I meant the best way for going long, I think it's dirt cheap, and instead of peak oil, I believe we are at peak Silver.
I am more of a trader, i spot trade setups an capitalize on then. But if i have to forecast, I still think the U.S. dollar is in its early stages of a bull market
+2 Reply
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