Last week I posted about the large triangle formation in silver. Since then, silver has been smashed all the way down towards the lower trend line.
Given the size of this triangle pattern, if we breach here a very large cascade type move down could be at hand.
We know the banks want to smash the physical price so this is NOT new! Keep your eyes peeled on the lower blue trend line.
TN Trader
Now I am waiting for silver to break the triangular pattern and skyrocket in the next couple of months. The FED has already risen the interest rate and it seems that nothing can stop silver soaring soon.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
In my experience that triangle is bullish not bearish....cost of production is roughly $16, they can't push it much further than that
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Your weekly chart analysis looks good tho I've dropped my lower trendline to the 5/9 turnaround just over $16.00.
Nevertheless the COMEX/banksters just might have a more compelling reason to maintain this $16.00 floor - namely the COST for the miners to extract the ore. The cost of production depends on diesel, water, labor and factors that aren't getting any cheaper. And now the FED raised rates, reducing liquidity. The corporate controllers NEED silver for their tech, solar, & medical products that they can't do without crashing the economy completely. It's a balancing act (so far) and a great opportunity to back up the truck whenever we get these dips.
I am convinced that they're algos are running out of room to manipulate this market, est. now that the Shanghai market reputedly settles in physical metal rather than COMEX's fiat paper. When this unravels, expect a parabolic spike that'll make Bitcoin's look like an anthill! Just my 2¢ worth! 😉
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Totally agree! Thank you for the thoughtful comment!!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks for putting up with my POV... Keeping an eyeball on sinking silver this next week & hoping I can catch a strong turn UP!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Im FUCKING PRAYING THEY DO!!!!! Let my cryptos skyrocket while metals get hammered. These guys are literally giving me evverything i have ever hoped for.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Waiting on this one myself.
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Thanks yall for the comments!!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit