Bullish Gold in Four Pictures

229
Tue, Sep 20, 2011 - 3:06pm

All four of the charts below paint a bullish picture but it appears that the next 24-48 hours hold the key. Hmmm. Isn't that interesting? What earth-shattering, market-moving news is possible over that time period?

Silver, not so much. Though I'm still extremely bullish long term, for now, silver looks to still be taking baby steps toward recovery.

Further affecting my enthusiasm for silver are the charts for copper and crude, both of which are failing to inspire much excitement or confidence.

That'll have to do for today. The Turd is going to be quite busy through the evening so I doubt I will update again before tomorrow morning. Hang in there. Get some rest as tomorrow promises to be a very interesting day. TF

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  229 Comments

AlienEyes
Sep 20, 2011 - 3:07pm

First?

First?

Vincent
Sep 20, 2011 - 3:08pm

Thanks TF!

ThanksTF!

ericplatham
Sep 20, 2011 - 3:09pm

My two charts...

posted in the last thread. Two hour spot gold... and then the 1 minute spot gold with the bottom line shown. $1810 seems to be very important to all parties

OC15
Sep 20, 2011 - 3:10pm

My question

Is how have they been driving silver lower so strongly if the contracts have been decreasing? How do you make it waterfall if you aren't dumping thousands of sell contracts into the market. No margin hikes, no mass shorting...how are they making it go down?

Sep 20, 2011 - 3:15pm

And, in preparation for tomorrow,

I would strongly suggest that you read this:

https://www.zerohedge.com/news/shadow-banking-system-imploded-q2-bernankes-choice-tomorrow-has-been-made-him

$1T in new QE would probably help gold catch a bid.

Dr G
Sep 20, 2011 - 3:16pm

@austrian (from previous

@austrian (from previous thread),

I fully agree that silver will outperform gold. I'm hoping that it will. I'm holding much more silver than gold. It just seems so undervalued right now. When I think about it my mind starts to turn to mush. And then you have moments like now where gold is up $22+ and silver is up only 7 cents.

Hillsie
Sep 20, 2011 - 3:16pm

Answer

Big thumps and then cover.....

Dr G
Sep 20, 2011 - 3:23pm

@Turd, yeah, $1 trillion

@Turd, yeah, $1 trillion would probably do it, but if that is the case what will $400-500 billion do? I don't know that we will see $1T tomorrow (although the ZH article makes a great case for it). And I know that in the long run none of this matters. Gold is going up and so is silver. But it's fun to speculate. This is another form of sports for many of us.

On the bright side, many of us should be rolling in piles of freshly-made fiat at this time tomorrow. Thanks Bernank!

2turdledoves
Sep 20, 2011 - 3:24pm

London Trader reveals .....

London Trader continues:

“As soon as China closes trading each day, that is when the selling starts in the paper markets. These raids on the price are designed to get weaker players flushed out of the futures markets so they (commercials) can cover some of their short positions.

https://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2011/9/20_L...

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