Ultraviolet

316
Fri, Jul 22, 2011 - 10:21pm

Just two simple charts for you to chew on over the weekend. I'll be unavailable for a couple of days as I'm headed to where the streets have no name. It'll be a sort of homecoming for me in the city of blinding lights, out there in God's country, where the land is often as white as snow. This time of year, however, it should be a couple of beautiful days.

First up, here's a weekly silver. As you can see, the uptrend from 2010 appears to be firmly intact. This chart confirms for me, however, that silver, above 40, will encounter some resistance around 42 to 42.50. It won't be the end of the world but there may be a period of a few weeks where gold will outperform. Ah...silver and gold. What a pair! Two hearts that beat as one!

Gold, on the other hand, looks magnificent...almost like staring at the sun. Gold may often seem to move in mysterious ways but, in fact, it moves with grace. Once you realize that the goal of The Cartel is to manage its ascent, you can begin to see, and rely upon, repeating patterns. The most grand of patterns is evident on the chart below:

The pattern above is not just the real thing, it's even better than the real thing. Note how, since 2009, gold has followed a six-month pattern of, roughly, 20 weeks UP followed by 6 weeks down. It may appear out of control but it is, in fact, the sweetest thing. Gold is now clearly into its next 20 week UP cycle. Following pattern, we should expect a mid-November high, somewhere in the neighborhood of $1800. Not bad.

That's it for now. I must walk on with or without you. I hope you have a great weekend though of course, some days are better than others. This is my exit but I'll be back in three sunrises. TF

About the Author

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turd [at] tfmetalsreport [dot] com ()

  316 Comments

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¤
Jul 24, 2011 - 10:49pm

Fishing in the rain (or snow)

Nothing like it for cleansing the soul then getting rewarded for your endurance when a battleship finally slams your lure

¤
Jul 24, 2011 - 10:49pm

Some Asian buying action...finally

Looks like we are into some normal trading volume in that market finally. Looking good so far.

Bobbi
Jul 24, 2011 - 10:42pm

Yes Turd, a good cleansing

rain puts all in perspective. Bold call, 1800 by Halloween. I love it and agree ;)

kliguy38
Jul 24, 2011 - 10:40pm

Perfectly controlled

For the non traders out there......be aware this is a controlled take down that is being marched down to a pre-designated level. My guess and of course this is a guess....is we get a resolution to just in time to do some serious damage to the shorts expecting a collapse. To do this they need to take this below key support at 1295....IF and a big if ....if they do this it won't be until right before they announce the "deal". Maximum damage to commods and gold and silver. Most of your that are experienced traders already anticipate this and are trying to jockey for position. gl

Gramp
Jul 24, 2011 - 10:36pm

Right on Mr. "T"...   Taking

Right on Mr. "T"...

Taking a break and stepping outside our normal role is very important to health of body and mind!

I not been to a concert in years... Glad you "soaked" it in instead of letting it "rain" on your parade.

Attitude Makes The Difference.

Jul 24, 2011 - 10:29pm

24

Yes, by my count there are 24 U2 songs in the post.

Great night but it poured rain for 3/4 of the show. Btw, when was the last time you just stood in the rain and got soaked? I'd recommend it for anyone who needs some clarification of thought.

Of course the debt ceiling is going to be raised. Gold is going to 1800 by Halloween. Done deal.

¤Aronnax
Jul 24, 2011 - 10:18pm

Very interesting video

The TED video is fascinating. Thanks CD

Denver
Jul 24, 2011 - 10:12pm

Andrews Pitchforks

Just out of curiosity, does anyone else here use them.?

¤
Jul 24, 2011 - 10:10pm

Debt Ceiling Talks Held Here

The Opening Theme for The Twilight Zone
donnojackshit
Jul 24, 2011 - 10:05pm

END GAME NIGH

If we are close to $1800 Au by Nov as many people are suggesting then I am hoping Ag moves from 1:40 with Au to closer to 20 which would take Ag to 90.

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