A Big Week Ahead

107
Sat, Jul 9, 2011 - 9:52am

Next week is shaping up to be significant for the short term charts. Can gold get through 1555 and break out of its summer range? Can silver break 37 and then 37.50 and head off to tackle the last line of EE defense at 39.50? Can crude build a new base above 96 and get ready to make a move at 101? I suspect we'll have most of our answers by next Friday.

Here are you charts:

Here are a few things to help you kill some time as we wait for tomorrow at 6:00 EDT. First, I don't know how many of you saw this is the comments of yesterday's blog but this is simply fantastic:

Jim Willie has written a very interesting piece. Please take time to read it.

https://www.kitco.com/ind/willie/jul082011.html

Trader Dan doesn't post as often as he used to but you need to keep checking his site or your liable to miss some very important information:

https://traderdannorcini.blogspot.com/2011/07/gold-chart-update-and-comments.html

I found this link on Drudge. It's 5-6 minutes of silliness. By the way, there was some political "debate" in the comments yesterday. I hope that, by now, we all understand that it is both parties --- The Republocrats --- that have gotten us into this mess. Blaming one over the other is a complete waste of time.

https://video.cnbc.com/gallery/?video=3000032061

This article needs no introduction. I think you can draw your own conclusions:

https://www.commodityonline.com/news/India-to-import-350-tons-of-gold-1200-tons-of-silver-40594-3-1.html

Lastly, you know how much I like patterns so you shouldn't be surprised that this got my attention:

https://www.zerohedge.com/article/guest-post-comparing-2007-topping-pattern-now

That's it for now. Have a great weekend!! TF

About the Author

Founder
turd [at] tfmetalsreport [dot] com ()

  107 Comments

Vernon Wormer
Jul 9, 2011 - 10:02am

Great work Turd. Keep it up.

Great work Turd. Keep it up.

tpbeta
Jul 9, 2011 - 10:03am

first?

never done that before. be interesting to see if silver can surge without QE backing it up. that would be very bullish.

s1lentslayer
Jul 9, 2011 - 10:11am

Check out the gold and silver

Check out the gold and silver charts a few paragraphs down on this article:
https://howestreet.com/2011/07/gold-silver-time-buy/

In summary, with two months of summer to go, be patient before jumping in now.

cib1980
Jul 9, 2011 - 10:23am

what's goin on at 6pm EDT

what's goin on at 6pm EDT tomorrow?

ChicksDigIt
Jul 9, 2011 - 10:25am

The Secret of OZ

Just came across The Secret of Oz...which is blowing my mind currently.
Is it possible a return to a gold only standard is the BANKSTERS plan!?!
This has to be the best documentary of American monetary history ive ever read/seen.

The Secret of OZ

SilverTree
Jul 9, 2011 - 10:30am

They are all big weeks. Don’t

They are all big weeks. Don’t stop believing.

BillAuAg cib1980
Jul 9, 2011 - 10:56am

 cib1980, Globex market in

cib1980,

Globex market in PMs opens for active trading every Sunday afternoon
murphy
Jul 9, 2011 - 11:02am

Re Shanghai Exchange

The talk has been that the new exchange will bring more competition to the other exchanges. Shouldn't we believe that the central bankers in China also have a vested interest in keeping PM's down as well? Haven't they made it easy for their population to buy physical gold and silver? Wouldn't they want the metals prices to stay down in order for a billion people to continue to buy on their $4000 a year salaries? Just like the Chinese Central banks have been buying metals directly from the miners or when they do buy from the market they don't announce it until years later.

American Oligarch
Jul 9, 2011 - 11:20am

9th :-)!!!

Ninth wow great!!, oh wait that's crap isn't it.

Cleburne61
Jul 9, 2011 - 11:33am

Silver COT is down to 110,000

Silver COT is down to 110,000 contracts. This is ridiculously low. What's impressive is how silver has rallied roughly 9% this past week while the COT is virtually nothing, AND forced short covering the entire way up.

The only thing that causes concern is the 900 shorts added by commercials. I need to read Ted Butler to find out if these are "the raptors" as Ted calls them, or the "big four", because depending on who was doing it, it makes a big difference.

Gold?! Holy cow the commercials and small specs covered another 1 MILLION paper oz of shorts last week!? Does it sound as if they're expecting gold to fall very much in the near future?

https://harveyorgan.blogspot.com/

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