Sunday, June 20, 2010

Sunday Precious Metals Porn...

The massive bull continuation pattern on silver bullion has a target of around $30-33, and gold could easily leap to $1700 while that occurs - Stewart Thomson, http://www.gracelandupdates.com/.

Couldn't have said it better myself.  I thought the silver bulls out there might enjoy this centerfold picture:


Per my post on silver Friday, this techinical picture is fully supported by market fundamentals.

12 comments:

  1. What is the price at the green line that it has to move above? Also, does it have to move above that line intraday or at closing for us to see something astonishing in silver?

    Thanks!

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  2. Targets $30 long term on a breakout.

    Über Alles? Dave = Josef Haybdn? August Hoffman?

    lol. Feels more like 'Die Wacht am Rhein'

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  3. Anonymous 19.60 - 19.70 area. I'd like to see see it close over that area and hold.

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  4. Silver gets me excited, this was an obvious tempt post!!!!!!!!!!

    LONG Ag!!

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  5. Payback for all the BBQ pics on your blog LOL

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  6. Silver made it to $19.69 and promptly got crushed. This is the 5th time it has been around this level since March, 2008 with the same result.

    I think this must be max pain area for the Silver shorts for them to act like this at the same level.

    Joe M.

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  7. $19 is where most of the silver option calls open are struck. i expect that we will close below $19 thursday, which is when options expiry is.

    they won't be able to hold this down much beyond that...

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  8. When do silver and gold options expire every month?

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  9. Dave = Marc Anthony

    Enjoy precious metals " porn " but... not so sexy, more of an unmet expectation. Like Jordan Carver...

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  10. LOL - Hey Ben - I know why you like Ms. Carver...

    Was just thinking this a.m. the dragon maybe ready to breath some fire. In fact, the volumn on the juniors has dried up across the board, big time. To me it means the selling is completely exhausted and now it's the bulls turn to assert some testosterone...

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