Close X Cookies are necessary for the proper functioning of By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
Gold & Silver Prices in
In the same category

Technical charts point to $130-an-ounce silver in the coming Golden Cross upswing

IMG Auteur
Published : November 06th, 2012
291 words - Reading time : 0 - 1 minutes
( 3 votes, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
Our Newsletter...
Category : Technical Analysis





Technical charts are great at explaining the past action of prices. It is more speculative to try to spot these patterns repeating.

Yet one very accurate predictor of price advances in the charts in the past has been the so-called Golden Cross where the 50-day moving average price for gold crosses over the 200-day moving average.

Silver prices track gold with a bias to outperformance so the Golden Cross or Blue Cross for silver is a great indicator for price surges in the most volatile of metals too. Bullion investor Peter Degraaf has highlighted the price increases that have followed this indicator since 2005.

Blue Cross price increases
For 2005-6 he noted a 100 per cent increase after the Blue Cross. For November 2007 it was 45 per cent. And for 2009 to April 2012 the multiplier was 250 per cent. Here’s what the chart looks like now:

Just to match the last upswing would give us $130-an-ounce silver in the next major market move. Would it not be typical of of the capricious silver market that while most attention is now currently focused on the potential downside, silver is actually about to give us another huge upward price shift?

At the fundamental level everything is also in place with QE3 money printing at $40 billion a month and counting. Perhaps next week President Obama will be re-elected and some of the US political uncertainty begin to clear, and then you could imagine all financial markets getting a relief rally, including precious metals.

We may have already seen the low for silver’s trading range and now be staring at a much larger upside than anybody is currently contemplating.

Technical charts point to $130-an-ounce silver in the coming Golden Cross upswing



<< Previous article
Rate : Average note :5 (3 votes)
>> Next article
All the stuff you don't want to know about, but should. And, when you do know, you realize that for the present you are powerless to change it This article is brought to you by the Charleston Voice E-mail List. To subscribe FREE to the distribution list, send an e-mail to the author with 'SUBSCRIBE' in the subject line.
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Silver Bull Market in Force
22 OctS W.
Interesting tech analysis here. Good stuff as I have never looked at 'full bars' closing above or below a 20 bar MA. Only ever the close p...
The Fascist Threat
22 Octsam_site
Your idea that extreme right and left fascism meet is brought out in the Spanish Civil War. The globalists created right wing fascism in Germ...
Trump’s Best Debate Performance ...
21 OctThe Recusant0
Yes, this WAS his best debate performance! But for all the reasons you mentioned, he failed to deliver. And that's why he will be defeated next mon...
Trump VS. Clinton-Who’s “Better”...
21 OctDoom1
Uh...I'm not sure I understand the conclusion here.
Trump’s Best Debate Performance ...
20 OctS W.1
I have only watched the 3rd debate. I am not American. Clinton is a far more polished debater and was far better prepared than Trump. I agr...
Fifteen Years Into the Afghan Wa...
19 Octsam_site
Follow the money folks. Heroin production jumped 13X when the CIA globalists took over Afghan production. You'll never get the sheeple to see the...
My Most Passionate Warning Yet
17 Octstackerguy551
Thank you Mr. Hoffman. I am concerned by the tone of your article, it is pretty scary to say WWIII is probable, and, so it may be, considering some...
Fifteen Years Into the Afghan Wa...
17 OctRichard B.1
Mykey99, the heroin was the main reason we " liberated" Afganastan. The Taliban were burning down the poppy fields and denying our criminal governm...
Most commented articlesFavoritesMore...
World PM Newsflow