-------------->>>> Silver to drop to the $15-18 range !!

the blessings of silver have nothing to do with money or trade

the blessings of silver are medical and spiritual.

You can use the same one ounce bar on your skin, in your mouth, on your third eye etc.

Really its gifts are not monetary

I hope it drops that low then I will buy a ton of it!

100% correct!

btw the same pattern can be found on the weekly Gold-chart!

It will probably drop to the 1300-1400 range

I came on GLP over a month ago, and warned that Silver was about to plunge from $31 or so where it had been holding

I've traded futures for over 20 years, and still have friends in the pits. I figured it was a neighborly thing to do

However, OPs of at least 2 threads kept deleting my posts

I've about given up on this site. Too many moranic silver tards who do not understand how markets work, and get angry at anyone who does

GLP is like trying to talk reason to religious fanatics. Silver, especially, is a cult to them, they are totally irrational about it

I was trying to help, in case they wanted to buy more cheaper, instead I was insulted, BSed and deleted.

Oh well...and thats why the poor get poorer

Silver is manipulated. It will go up, it will go down - but answer this . . .IF silver is going to plummet FOREVER - then WHY is there a shortage?

Give it a rest.

That would be WAY too expensive for the jp morgan/hsbc and the boys to short that amount of silver in such short period of time, even overkill for them. The fundamentals still play a big role in the price of silver. You just dont understand very much!

You may very well be correct OP however I do not simply look at the charts I also look at the world and it does not look good with Europe China and US.

Further we are about to get another round of QE-Infinity that means that the money being created of thin air is about to be accelerated. If Gold and Silver do drop in value during this period then we have a miracle as the more usd that is created the more valuable it becomes.

I am not stating this will nor occur but call it what it is manipulation and illusion...

this is my forecast of Silver :

[link to i49.tinypic.com]

Sounds exciting

two words: deflationary depression

I'm an amateur trader



Enough said.

Would be nice if "physical" was below 24.

Trading on technicals without fundamentals is suicide.

You have no fundamentals, and are incorrect.

Several firms have multi-hundred billion dollar conditional contracts set up to clean the COMEX out *when* (not if) silver drops into the ~25-26 range. This will likely coincide with JP Morgan Chase unwinding its ~600 billion dollar short position, which it has maintained since silver was 10.00 an ounce, and there will be no further impetus for the manipulators to continue their game. In fact, the precise opposite will occur; because central banks have been net buyers of precious metals for the last 2 years, bucking a 30 year trend, the pawn banks (JP, GS, Citi, MS, etc.) will be incentivized to blow the price through the roof. At this point, the COMEX will be cleaned out, and physical will be unavailable on the market.

I agree with you, Chip. I'm set to make money one way or another with the price of silver...woo-hoo!!

We have a winner.

The ultimate irony actually. The very same big banks who have depressed price throat criminal methods for decades will be those that profit from the inevitable, and perhaps close at hand, explosion in price.

The big banks control the timing of every price rise and fall, and profit off BOTH directions.

The wise investor will be patient, and hang on for the ride.

I will agree with the drop, but you have fib resistane at 20 usd and also b wave resistane from 2008. Wave 5 = wave 1 from april last year should take it down to as low as 20 usd probably within 2 weeks, most likely an intraday drop. After that it would come up to 175 usd before april of next year 2013. If it take longer than that the prie target goes up significantly.

[link to www.avanza.se (secure)]

silver bull x 4

to JPM hedge physical silver :).

Sure thing gangster Dwayne. If that happens get a helmet to watch the Dow.

OP,

In order for double tops or double bottoms to be confirmed there has to be a move up or down on extremely high volume.

Double tops (M pattern) normally occur near the top of a trading range and you should wait for a large bearish surge downward on high volume to confirm the move. The inverse is true on double bottoms (W pattern). Look for an upward surge in price on high volume to confirm the move.

To me, the pattern that you're charting is not a Bearish pattern at all. At this point its just defining an area of support and an area of resistance.

My advice is to do yourself a huge favor. Look for a large move up or down on higher than average volume before even considering jumping in or out.

Thanks OP. Some of these posters are literally retarded. Just ignore them...

Don't agree.
Totally depends on EURO issues and if it breaks the approx $26 support level.

Right now....it just looks like a consolidation / flag setup....especially on the daily chart.

lol

Silver is NOT an investment.

Be honest people. You're not buying silver to make money.

You're buying it as an insurance policy, or because you like the look and feel of it, or you think its got therapeutic properties. That's fine, and I'm 100% in support of anyone who honestly buys it with that attitude

Tell me you're diversifying into silver in case tthere's a run on your bank, and I can fully support that

But the church of silver tards who say price doesn't matter, yet obsess over every $2 move in the futures price make me laugh

The biggest upward move in silver is in its past.

Silver is not going to $200 or $1000 an ounce, nor is gold going to $10,000 an ounce, any more than the stock market is going to 30,000, or oil is going to $200 barrel, or any other ridiculous statement amateur retail like to make

The world is fast approaching a global depression. Precious metals are a hedge against inflation, not deflation. In a deflationary scenario they fall like a rock

Has anyone who claims to be a trader looked at the charts of silver and gold during the fall of 2008?

Kinda kinda like a waterfall plunge, huh....

How come precious metals weren't a hedge against a collapsing market then? How come they fell as fast as everything else?

Guess what, they will perform exactly the same way today

Worse, as money and credit deflate, individuals and governments will sell what they have of value to cover debts.

India, the world's largest consumer of gold, is in a deep recession, and as China and Europe have hard landings, they will fall even more. People sell what they can when times get hard, and that includes their gold and silver

Sure real assets will have more value than paper ones, but ALL assets will drop in value, precious or otherwise

You think silver will protect you against a Mad Max apocalypse? Even if you're right, you better have a ton of guns and ammos in that case, because the moment the other zombies find out you have silver, your house will be firebombed and you and your loved ones stalked until they find your stash.

Just read the sad stories of hundreds of Greeks who withdrew their life savings from banks in recent weeks, only to be robbed of everything within 2 days as newly formed bands of robbers looted their homes of every single thing of value.

In that scenario, everything is worth only what other people have the money to pay for, no matter what you think its worth. If the very rich have been wiped out as you believe, because of economic collapse, and the poor made poorer, and governments are insolvent, who exactly will be buying silver at even $50, let alone $100, $500 or $1000 an ounce?

But I'm sure this post will be ignored or attacked, so carry on...take out a loan on your homes and hoard precious metals if it makes you feel better about the scary monsters under the bed

True but shortly after the stock market collapse of 2008 Silver surged. It topped out at 400% of its previous value. You can't make light of that fact. I don't know about you but as a consumer I've felt strong inflation for several years. Not only have prices risen everywhere on everything but portions have gotten smaller on the items we buy every day. To me this is a clear sign of inflation. I don't have to depend on Government generated numbers to support inflation. I see it every time I shop at the local grocery store.

Hope it does. I will borrow fiat, remortgage my house, sell of every asset that I have and stack physical out the wazoo.

If it does I will be set for life.

What an opportunity

Bring on the silver carsh!

Completely agree.

silver is not an investment? I can cash in right now and more than double my money.