silver "appeared" to have a failure....
this is not the case. we are again testing the upper channel band. looks to be 17.15 on a daily close and we can resume our up trend.
also JNUG looks solid.
stay long metals and the miners.
On the weekly chart, which I rarely use, the FIB retracement is alarming.
The 62% level was bombed right through.
the 50% retracement beckons at the $2,951.00 level.
Ultimately with this swift of a withdrawal I see this going to the next level of $2,472.00
I sold my Bitcoin at $4,719.00 and was able to cash out.
If the selling continues, what exchanges are...
My new "important line" is in the 1367 area. A weekly number that represents big resistance but now in my opinion a MAGNET.
Bitcoin cracks in the wall, with China and more shoes to drop/.
Yes people want an alternative currency.
Bitcoin "may" be beneficial someday. Ethereum May be also., possibly LiteCoin and Monero.
other than that??? who can see any...
I sold all my cryptos from coinbase on Thursday at 7:4-pm eastern time.
Bitcoin at 4719
ethereum at 386.74
litecoin at 73.39
i sold monero at Kraken at 140.46
I now see a panic developing. Liquidity problems are not evident yet but I am concerned.
the time to move between Kraken and Bitcoin not great.
I am awaiting wires from coinbase.
This does not look good...
daily chart showing the upper trend line.
that line is a magnet for trend followers
commitment of traders has room to run. the funds are not overly committed now.
most miners have a 16 to 17 aLL in price.
silver has fundamental value here.
good long term buy
trend line setting up test of $17.46 to $17.50
gold silver ratio starting to turn up
commitments are no where near they were on April 18, 2017 at that point the comm. funds had a net long position of 107,000
now they are net long only by 45,000.
sponsorship is needed to push silver higher and I feel $17.45 will be tested within 2 weeks. after that lots of funds...
Retail actually decreased their long exposure by 1,700 contracts. Technical analysis while normally good in the short term is being run over by conditions geo-political. Especially the crypto currencies.
I hold Bitcoin, ethereum, litecoin and Monero. Today Monero up $27.00 to $81.00 plus,... 51% on big volume. Bitcoin cash thru the roof. We are not in normal...
I'm starting my trend line on the close of November 7th at 2,134.
This was the day Hillary was a shoe-in. all was well with the averages.
Trump was routinely said "if he gets in the dow plummets.
well we all know that was true for a few HOURS.
look at my line.
2 tries now this will be the third time.
the 100 day moving average is important and within sight.
TaLK about a coiled top!!!
even Barrons talking about the coiled spring on volatility sellers. I've seen the algo's when they run a muck and I wouldn't be short volatility here. Picking up pennies
and nickels in front of a steam roller. Sure the short e-mini puts has worked marvelously up till now. But short vol always works until it doesn't at 2471 my gosh lets...
The COT has turned commercial's topped out the last two weeks at 40% long gold. swap dealers last week had their most bullish stance. July 25 the wise guys added longs and are now 63% long to the commercials at 37%. Contrarians would call this bearish for golds price. Simplistic analysis of commercial/fund is not as important as the swing. sine wave type pattern....
Can there be any worse news for Crude? Every major report is in and discounted I would think.
technical are pointing higher. Dennis Gartmen flip-flop to bearish. Enough for me to institute a small long here.
Silver slammed along with gold at the "normal" time of 4:00 AM eastern. Just your normal $2 Billion notional gold slam. (ahead of the durable goods miss??)
silver sold down to 16.22 July futures over 76,000 contracts traded so far today. So with that much fire power silver is now trading 16.58... Thirty six cents off the low
Crypto's are being sold hard as I...
The June 20th report had the wise guys throwing in the bull towel. They gave up 40,000 long gold contracts. The commercials swung a 38,000 net to the long side on gold. Joe public
remains at 60% long. Open interest declined a good bit by 26,000 contracts. Looking at the moving average and that beautiful stochastic set up on the dailies, the commercials seem to...
I see Bitcoin retracing back to the fib level at 1,724.
been very stable lately. I can't help but think there is lots of pent up sell side pressure building.
Ethereum is very similar.
when Bitcoin starts to correct down to 1,724 a good percentage of the money will find it's way into the metals/
silver is very strong here also.
when gold stochastic bottomed few...