Silver In Four Charts

127
Thu, Nov 29, 2012 - 11:56am

Just a technical companion piece to Ned's post above, from your favorite "mentally-challenged", "morally bankrupt" and "dangerous" analyst.

Let's start with a review of this chart from Tuesday. So far, so good:

And here is where we are currently. First, this 8-hour chart shows four, clear reversals from Cartel-inspired takedowns. This is very bullish and indicative of strong demand for both paper and physical. Furthermore, extending today's gains through the highs of last week...after the ugly beatdown of yesterday...is a very positive, short-term development.

On the daily chart you can see where we are headed next. A close today or tomorrow above the highs of last Friday and yesterday near $34.28 would clearly indicate that $35.50 is next.

And I believe that this next challenge of the $35.50 level will be the final one. Silver will break through this time but don't get too excited just yet. I expect heavy and serious EE resistance between $37 and $38. Maybe even all the way to $39. It may take a few days to get through. It may take a few weeks. However, once through, $44 awaits and, after that, the old all-time highs near $49.

Smile, be happy and live your life with joy!

TF

About the Author

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

  127 Comments

Istack
Nov 29, 2012 - 11:57am

oh great

i gotta go to a meeting. arghhh.. keep stacking!

philly
Nov 29, 2012 - 12:03pm

Thurd...

...and still counting the stack!

Mantis
Nov 29, 2012 - 12:06pm

Fourth?

Not bad, think this is my highest spot so far.

Look at silver go!

Now to read the article :)

indosil
Nov 29, 2012 - 12:08pm

Target...what next?

Hi Turd,

Nice FUUBBMM today.We all know we are headed much much higher...but out of sheer curiosity what after $50?

I mean once if we breach $50....we have done that only once ever if i am correct.....we all will be giddy with excitement but what next??We go towards the triple digits???

sengfarmer
Nov 29, 2012 - 12:09pm

top ten? :)

Let's get at it . The boys are hitting the end of their rope.

mack
Nov 29, 2012 - 12:09pm

top 10

yes

Dagny Taggart
Nov 29, 2012 - 12:12pm

Keep Stacking!

Love the FUBM. Thanks for the great info as always TF!

Ccanuck
Nov 29, 2012 - 12:14pm

Wow Second??

Wow Second??

Thanks Turd.

I will be making a donation soon, because it feels like stealing getting this info for free.

Edit: Just dropped a very meager $10 bucks on ya Turd, wish it could be more, maybe when we hit the all-time highs I will be able to pay what you deserve for this site.

Keep doing what you do, dangerous as it is, lol...if the morons want safe, tell'em to buy bonds!

Ccanuck.

Larry L
Nov 29, 2012 - 12:22pm

I Patiently Wait

Thanks Turd for doing an excellent job of keeping us informed.

I so wanted to trade earlier this week but decided to wait it out, and it is showing me there is wisdom in that. I will not trade my miners but continue to hold and will wait patiently.

Nigel Black
Nov 29, 2012 - 12:24pm

yes, keep stacking

Truth always wins in the end - we just need to be patient (and keep stacking).

Thanks again Turd for all of the great info you provide to us.

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Key Economic Events Week of 10/21

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