Silver In Four Charts

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 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!


About the Author

turd [at] tfmetalsreport [dot] com ()


Istack · Nov 29, 2012 - 11:57am

oh great

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

philly · Nov 29, 2012 - 12:03pm


...and still counting the stack!

Mantis · Nov 29, 2012 - 12:06pm


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


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!


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.

· Nov 29, 2012 - 12:26pm

Turd Ferguson is a " dangerous analyst"?

 Yup. Dangerous to the status quo.

Run for cover, Nancy boys.

Ccanuck Pining 4 the Fjords · Nov 29, 2012 - 12:30pm

Pining 4 the Fjords

Can you dress-up Mothra or something else as Blythe, put 'em in a showdown.

· Nov 29, 2012 - 12:31pm

Middle East heating up?

Again, watch the $90 level very closely for clues.

TomMack · Nov 29, 2012 - 12:34pm

9th obligatory rev #9 too

 that weekly outside reversal day is strong.. it looks like we will have little resistance if we clear 35.50 until 38 bucks.


القراع عصفور · Nov 29, 2012 - 12:37pm

do not be afraid

we have them running scared. if B.M. only knew that i'm a nobody, posting in my underwear! but i got a big stack of silver, and more than that, she pissed me off. (big mistake) so, go out today and buy some more silver. it's only a matter of days before the coin shops either run out, or decide to keep what they have left. the big delivery bars (1000 oz) are for all intents and purposes, already gone. i hope that i have done my part to educate you all. i am sorry if my logic has been difficult to follow. i never claimed to be a great teacher. anyway, if i only convinced one person in the world to stack physical silver, i am ecstatic! but i think i did better than that :-)

God Bless

not you B.M. you know the drill :-)

4406PACK · Nov 29, 2012 - 12:44pm

went to coin shop yesterday

went to coin shop yesterday and again today .phyz silver in high demand throughout the mile high city some were out of eagles

Cononish1314 · Nov 29, 2012 - 12:45pm

Song for Blythe & The Dangerous Analysts

Oh sister when I come to lie in your bank
You should not treat me like a stranger
The Bernank would not like the way that you act
And you must realize the danger.

Oh sister am I such a bother to you
And one deserving of affliction ?
And is our purpose not the same on this earth
To speed and follow ag's direction ?

We grew up together
From the cradle to the grave
We died and were FOFOAed
And then mysteriously saved.

Oh sister when I come to knock on your door
Don't turn away you'll create sorrow
Supply is an ocean but it ends at the shore
You may not see it tomorrow.

Road_Scholar · Nov 29, 2012 - 12:47pm

Where does silver/gold go when it finally breaks out?!

The moral to the manipulation story is the more something is controlled, the worse the outcome is when it is set free...

Mr. Fix · Nov 29, 2012 - 12:51pm
The Watchman · Nov 29, 2012 - 12:53pm

China GETS IT-

Nov. 26, 2012, 3:55 a.m. EST

China 2015 gold output likely 450 tons: ministry

By MarketWatch

BEIJING--China aims to have domestic gold production reach 450 metric tons by the end of 2015, a rise of around 25% from 2011, the Ministry of Industry and Information Technology said Monday.

The ministry forecast rising domestic demand for gold and a "huge amount of room" for the industry's development due to gold's safe-haven and wealth-preserving properties, it said.

Still, domestic consumption is likely to exceed 1,000 tons by the end of 2015, "widening the fundamental market shortage," the ministry noted.

China has tried to speed up industry consolidation, aiming to reduce the number of gold producers in the country to 600 companies by the end of 2015 from 700 in the 2006-2010 period, the ministry said. The amount of gold produced by the top 10 gold companies will rise to 260 tons by the end of 2015 from 100 tons in 2010, it said.

By the end of 2015, China is likely to have gold reserves of 8,000-9,000 tons, an increase of 20% from 2010, it said, without specifying if these were state reserves.

Dr G · Nov 29, 2012 - 12:58pm

A bit amazed that gold can't

A bit amazed that gold can't budge and silver is already back up to where it was pre-raid. Silver is so strong here. Good times.

· Nov 29, 2012 - 12:59pm

re moral to the manipulation story

Ain't that the truth. Every now and then I have an urge to post about Mandlebrot and volatility, and the thread gets all wound up about the beauty of math. Beware the fat tails!

Actually, that looks rather delicious. Might go well with:

Groaner · Nov 29, 2012 - 1:07pm

Nice capping going on at $1730

7 times close to 1730 and then repelled.. Must say they are consistent

Silver looking simply Marvy.

Groaner · Nov 29, 2012 - 1:08pm

Are you counting all of the

Are you counting all of the "Iron Dome" capping of the past two weeks, too??

Dr G · Nov 29, 2012 - 1:10pm

My multiple kitco apps are

My multiple kitco apps are showing a high of silver today of 34.52. I don't see that anywhere on the charts. Looks like 34.35ish was probably the high. Anybody else see that?

And something strange is afoot, which makes me worried. Gold up .4% and silver up 1.5%? Why the extreme capping in gold? Is it because through 1730 and it will shoot up clearly through 1750 and then it's off to the races?

Dr G · Nov 29, 2012 - 1:11pm

@Turd, me thinks this 1730

@Turd, me thinks this 1730 capping will fall in Globex or Asian trading. I'm basing that solely on the strength of silver.

paulindoon Dr G · Nov 29, 2012 - 1:14pm

Dr G - so far Si today


  • Prev. Close: 33.770
  • Open: 33.788
  • Day's Range: 33.613 - 34.485
priyam10 · Nov 29, 2012 - 1:14pm


I believe you're doing A REALLY REALLY GOOD job for a "mentally-challenged", "morally bankrupt" and "dangerous" analyst. Please keep up the good work. Your efforts will not be in vain !!!

Notice: If you do not see your new comment immediately, do not be alarmed. We are currently refreshing new comments approximately every 2 minutes to better manage performance while working on other issues. Thank you for your patience.

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