Anybody watching Gold?

[EL34]

Gold and Silver are on the move again.

[EL34]

Silver and Gold have gapped up

[shooter]

that's a nice bump from this morning when I looked.


found this chart, besides the obvious, it's a pretty good "tell" on what happens to prices during the "uncertainness" of a particular year.

[EL34]

The gaps continue

Next overhead resistance is $50

[shooter]

yep, my tea-leaves say by end of year it'll stabilize out about $50.


CCP is on a tear trying to convince the world America n it's dollar are over, Europe is wetting it's pants over Russia n civil unrest, most of south America is run by the cartels, even if we manage to boost the economy here, lots of the moneyed folk are buying up all the tangibles they can get.

[EL34]

Gaps always get filled, so there will be some of that going on

[EL34]

The red lines are where Silver and Gold will retrace to fill the gaps

[shooter]

this is a drone stock, but the premise works across the board, metals, money, stocks
this gap was 6 weeks ago, it's positioned to start a long slow run up, just like metals will.

[EL34]

Silver and Gold are ripping
Keep in mind that that gap up still exist and will be filled
Maybe as Silver hits $50 there will be profit taking

[EL34]

Gold at $4045
Silver at $49.25
 

[shooter]

been watching the stock market getting beat up pretty good last couple days, always a good indicator of metals looking like a good bet.
back to tree cutting, that investment saves me a thousand or so a year to buy the dips in metals 

[shooter]

this was in my feed just now.  It's a good historical document but for predicting the future I see, probably not so much! 

[EL34]

That gap at 40ish still exist and will get filled, so be prepared for that.
I imagine silver will hit $50 and there will be some big profit taking

Buying at the gap retrace may be something to think about

[shooter]

 
transferred some US drone stock profits yesterday to my buy bullion n bullets account!

[EL34]

There we go
Silver over $50

[shooter]

was on my bingo card by Dec! 


I don't believe it will drop back to $40 to "fill the gap"  more like back to ~$48 to "balance" the runup.

[EL34]

Just a trading rule I always heard that gaps always get filled
May not be anytime soon, but it will happen if that is true

[shooter]

use the same "rule" when deciding on buy/sell my lunch-money stocks.  the gap does "fill" most of the time, but as you said "when" that happens is left to the speculator, or history if you have patience 


NOTICE:
I give ZERO fanatical advice, for entertainment purposes ONLY 

[EL34]

I also noticed over the years that October was a good month for mining stocks

Looking back a few months later, I should have sold in October
So this year may be different

[EL34]

These long sticks above 50 usually mean that no one is willing to buy at those prices

[EL34]

I sold 8 mining stocks just now
I am keeping two of them

[shooter]

this is one of the US drone startups I've been chasing this year, you can see the gaps getting filled, both gaping UP and gaping DOWN.




the market is in profit taking mode this week, so I'm picking up the pieces since I took mine a couple weeks back.

[shooter]

got a $300 payback from my beer-bait-n-gas scratch-off 401k, had the bullion man turn it into $5 USD 1/2 dollars (~4.5oz) and a 1oz silver bar.  hated having to pay the $51 spot though!!!!  that put my stack payback up to ~~$27/oz

[scstill]

unless of course its on its way to 100

https://bullionexchanges.com/blog/20-reasons-silver-could-surge-toward-100-per-ounce?srsltid=AfmBOoqrvblMQER0687_IXGgYoBu6VKWqICaTFZ7MauBFa7-UuZbH8_Y

[shooter]

October is usually when the stock market takes out the long knives, so with all the market "uncertainty" metals is a good place to park assets til the market stabilizes. my guess $50/oz will be the "standard" through this year  $100/oz is pretty optimistic.  but by 2030 probably low.