The previous time that the 50 Week MA broke UPWARDS in Gold was in 2002 and price then ran from $290 to the all-time high of $1923.
This indicator has just broken upwards again…

Submitted by Ben Drage, Forex Analytics:

A Golden Cross is a bullish breakout pattern normally of the 50 period MA in relation to the 200 period MA.

There has been plenty of interest in my recent chart showing this happening in Weekly Gold.

To re-cap, we have only seen the 50 Week cross the 200 Week four times in the last twenty-five years and, according to Ned Naylor-Leyland, this was, “predictive of 3-10 years of subsequent market direction”.
The previous time that the 50 Week MA broke UPWARDS in Gold was in 2002 and price then ran from $290 to the all-time high of $1923. This indicator has just broken upwards again…..

Typically with Silver it has not been so clear cut – in fact the Moving Averages have yet to cross – it looks as though it won’t be long before they do as the 50 Week is at 17.56 and rising whereas the 200 Week is at 18.07 and falling.

In the last fifteen years we have seen two upwards Golden Crosses – in 2003 price ran from $4.70 to $21.44 and in 2009 it went from $17.80 to the all-time high of $49.82.

That’s potentially big news, but these are really long term indicators – it’s great for stackers and traders that price looks to be moving into a sustained uptrend, but what’s happening in the medium to shorter term? At Forex Analytics we look to provide clear and uncluttered charts, using Median Lines (Pitchforks) to identify High Probability, Low Risk entries and exits for traders and investors.

For example, the recent fall in the price of Silver hit a low of $15.46 – we had followed it down using 60 minute and 240 minute charts until it reached the Lower Parallel of the Daily Pitchfork shown in the Chart below:

It was not a surprise to see price rebound strongly from there and we touched a recent high of $17.88.

It’s all too easy to only think of Silver in US Dollar terms. We monitor it across currencies – take a step back and look at the enormous potential upside when pricing it in GBP, CAD or JPY.

Chart 4 is Silver in British Pounds on a Weekly basis and the Pitchfork not only shows a significant line of support but also the potential for price to run much, much higher.

Chart 5 is Silver in Canadian Dollars and once again the Pitchfork delineates lines of Support and Resistance – the green Sliding Parallel above is at about C$29.

Chart 6 shows Silver in Japanese Yen at long term Resistance – a solid break through the 2000 level could presage a strong move.

There is certainly the opportunity for significant upside in Silver across a number of currencies.

Is the approaching Golden Cross in US dollars the lighting of the blue touchpaper before we see some serious fireworks?

Forex Analytics provides Premium Technical Analysis of Precious Metals, Currencies Commodities and Indices at www.forex-analytics.com or email [email protected]

Buy 2017 PCGS First Strike MS70 Gold Eagles

    • OMG, OMG, OMG THIS MEANS THE DINAR IS 48 HOURS FROM BEING REVALUED!  NOW WE CAN GET THAT BLENDER WE ALWAYS WANTED.  AND MAMA CAN GET A COUPLE NEW BRAS, and I CAN GET NEW SOCKS AND UNDEROOS.  HOLY FRIGGIN’ TOLEDO!  OBAMA MUST HAVE BEEN SUPRESSING IT ALL THAT TIME.

      The only cross I ever heard of mattering had something to do with this Jewish carpenter that pissed off the religious big wigs.   Other than that, I’m sure this golden cross is sure to…uh…oh, I see, the markets are open, and trending down in gold.

    • I don’t comment on this site anymore… theres nothing humorous here since Bo hasn’t been around to rip on. No fun at all. Might as well watch CNN or Fox…BORING

  1. Read the disclaimer below. _JLG.

     

    “THE ANALYSIS AND DISCUSSION PROVIDED ON SILVERDOCTORS IS FOR YOUR EDUCATION AND ENTERTAINMENT ONLY, IT IS NOT RECOMMENDED FOR TRADING PURPOSES. THE DOC IS NOT AN INVESTMENT ADVISER AND INFORMATION OBTAINED HERE SHOULD NOT BE TAKEN FOR PROFESSIONAL INVESTMENT ADVICE.” 

    • “Are you suggesting that these editorials , many that people pay good money for, are for ENTERTAINMENT?” 

       

      No, I am not suggesting that, The Doc is. Go to the bottom of the page. _JLG. 

       

       

    • I use the patented and TM Fourskin Unibody Defenestrated Silver Armature Modulation Model  (FUD.SAMM) to predict the price of silver to an RCH.  We’ve close to the  Double Stochastic Osculation breakthrough.

      Hold on to your hat, horse and saddle blanket cuz it’s gittin’ real buckaroo time.

      @JOHNLGALT

  2. Here is a true and honest forecast. THE MARKETS ARE RIGGED SO EXPECT NOTHING. The price could go up tomorrow, or it could go down. Thanks for reading, subscribe and give me money so I can buy more Physs. HAHAHA

  3. Look Out Silver, Here Comes Solar Demand

    By Alena Mikhan and Jeff Clark

    In early July, Japan set a premium price for solar energy that was three times the rate of conventional power. This meant utility companies would be paid three times more for electricity sourced from solar. It’s widely expected that the premium will ignite the use of solar power – and solar uses a lot of silver.
    Silver Demand from PV Panels
    As you may know, silver is used in photovoltaic (PV) technology to generate solar power. A typical solar panel uses a fair amount of the metal – roughly two-thirds of an ounce (20 grams). To put that in perspective, a cellphone contains around 200 to 300 milligrams (a milligram weighs about as much as a grain of sand). A laptop contains 750 milligrams to 1.25 grams.

    Photovoltaic technology is relatively young, but each year its use is growing rapidly. Just since 2000, the amount of silver consumed by solar-panel makers has risen an average of 50% per year. Demand grew from one million ounces in 2002 to 60 million ounces in 2011. Last year demand from the PV industry represented almost 11% of total industrial demand for the metal (excluding jewelry). According to statistics from CPM Group, demand grew by 11.2 million ounces, the strongest volume growth of all major sources (jewelry and electronics). And this was before the Japanese announcement was made.

  4. I’m as big a skeptic as anyone when it comes to charts and technical analysis in an overtly rigged market. With that being said; the technical setup in the PM complex right now is very bullish. Sure, at anytime the cartel manipulators can come out of the woodwork and slap the price down but at least for now they appear to be content with rising prices.

    I’m expecting futures to open positive tonight.  The momentum is to the upside. Let’s ride it!

  5. @silversnout,

    That”s great idea, make sure you spread that message about silver wires in solar panels.

    That will make a big demand for panels and create silver rush.

    Between me and you: wires in panels are only silver galvanized, as you know electrons flow is mainly on the outer layer of regular copper wire and that’ s why copper is galvanized with silver.

    If you do not know that then I wish you luck in buying panels by kg. or libra. Lb.

    You may end up with a lot of copper, but your idea is great to spread it

    to snowflakes.

    Congratulations!!

     

     

     

     

    • I guess now we are all a little more informed about the exploding solar panel market.  I’m in the roofing business…… a connected market to many homes in the US.  Solar producing shingles or tiles could be the next big thing.  Hail resistance is still a problem……if the hail is large enough. Baseball sized hail completely took out a small scale solar farm here in San Antonio last April……and panels on roofs where the larger hail hit.  Looks like lots of applications coming in the future for the roofing industry related to solar.

  6. Monday morning and the US cesspool has opened and the bashing back on the table.  Charts are laughable and I am so incredibly sick of people like Willie and the rest of these clowns who think they can outsmart this criminality!  I was waiting on some kind of a run to get the hell out of Gold and Silver, they are junk investments and Solar Panels, Volkswagen windshields and all the other stories are just that, stories, they have no idea where these prices are going but my best guess is straight down again!

  7. Gold took a pretty decent hit this morning but is now down only about $8 bucks. Silver is down less than a dime. Pretty good performance from the metals considering the DOW is on fire and making new all-time highs as I type. People do not appear to be selling the metals in order to chase stocks higher.

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