Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

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  
0
Send
0
comment
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.

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


 

 

Companies Mentionned : Bullion | Metals X |
<< Previous article
Rate :Average :5 (3 votes)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Gold & Silver Market Morning
12:55end
If you trade XAU/RUB and have bought XAU using RUB, you should have closed your position as he advised. Then you should have switched, buying gold ...
Muslim terrorism, the left and t...
01:09Firebear1
All please understand this person was a Muslim,that was his believe! His character was that of a criminal as was shown by his action on the day and...
Napoleon vs. Cheney: "Interrogat...
18 Decwalmarde
Torture just put the moral line lower. Lets think about American exceptionalism. What we want ? we want to spread and defend that exceptio...
Napoleon vs. Cheney: "Interrogat...
18 Decwalmarde
Utilitarianism is bad philosphy. I'm also very disgust about torture. It will backfire in our face. We are now no better than ou...
Napoleon vs. Cheney: "Interrogat...
18 DecJosu O.5
I cannot overstate how important is that every american read this article. It's absolutely wonderful how you have summarized every aspect around to...
Muslim terrorism, the left and t...
18 Decend0
Does anyone still wonder why is Australia hotbed for second generation Muslim migrant radicalization? Does anyone still need an explanation on why ...
Gold & Silver Market Morning
17 Decsamking731
Gypsie, my take on what he's saying is on paper gold, not actual gold that you are holding in your hand. In that way, gold is gold, though Pandas ...
Gold & Silver Market Morning
17 DecGypsy1
You have me confused Julian. When you say "We believe that holders of gold in the Ruble. . . . ." I take it you are not talking about someone hold...
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.