Kenny - given the rise in silver and gold over the last 12 months and the overextended correlation gap, I suspect the only profit taking done down here will be done by amateurs, professionals will have a longer trade duration and far higher targets.
Did you ever see blackrock jump in and out, and out and in for 5%? No, of course they don’t.
One’s average win must be higher than one’s average loss, so, if one closes the winners out at just 5-10% where is one closing losses out? |
Calmer prices might let me have a rest now. Gold and silver continue to ease - but not much. They're both still above their Friday close and that was a strong week. MXN654 and MXN59,887. |
Another broker price upgrade. Citigroup 950 from 850. Buy. |
I agree with Trader465 .. expect resistance at 800p .. just a hunch .. no charts or fancy methods .. just the reality that there will be investors fortunate enough to have come into this in the 400s ( myself included ) and profit taking is likely. If it breaks that I can only see it moving higher and higher .. my target for 6 months is 1200 but dependent on financial results I could easily re-assess this higher |
A couple of 10% or so days will have us in double figs |
Gold edged off marginally since mid-afternoon peaks but remains up over 2% in MXN. $2912 was not beaten but there were further new records of MXN60,137 / £2352 / Euro 2824.
Silver also edged back but remains up over 1% in MXN at 661. |
FRES has hardly started its move yet, I’m still sitting on the ones I bought at 450p and will continue averaging UP into double figures. Target £20. |
Gold recently gone through MXN60k and up over 2% today, but repeated records in all currencies so not really surprising. |
Catching back up?
free stock charts from uk.advfn.com |
Silver back up to MXN666 / $32.24
Gold new records recently of MXN59,977 / £2350 / $2912 / Euro 2820 |
Caution, resistance at 800p, hopefully March financials will blast it through |
Silver still rising and gold still breaking records in most currencies so will do a summary later.
ForeverBull - I'm not in the market for making precise predictions. I'm just suggesting a cup and handle is a change of channel formation from bear to bull and the shares are likely to stay within the new bull channel when you can work out what its bounds are. I gave my best guess last week. Shares do, however, often jump to the top of the channel in short time after a cup and handle, as per last week's chart post (below). Failure to do so would not, in my experience, negate the bull case until the shares fall through the bottom of the channel, at which point, I'd quickly review the fundamentals to see whether I wanted to sell or not.
free stock charts from uk.advfn.com |
Just tested October Highs and gone past it. Where will the price be with silver at $35-$38.
May want to listen to Don discussing fres |
Cheers, Aleman. Based on the cu and handle formation, when do you think 900p may be achieved from a timeline perspective? |
Silver still going up and more gold records. Will post later in the day ...
Not much rise in (selling) volume on completing the handle suggests these will now make the next leg up (which would typically be a quick jump to around the 900p mark before the next consolidation).
free stock charts from uk.advfn.com |
Gold at £2336 / $2897 / Euro 2810 / MXN59,626.
Silver at MXN663 / $32.22. |
Pulled back later on to MXN653 from MXN668 and MXN58763 from just over MXN59300 so neither quite managed a new closing MXN highs in the end.
Gold's new intraday record highs were £2326 / $2887 / Euro 2791 before pulling back a bit but still closing near highs, and up over 2% on the week. |
Anyone know the book value of silver stream project it will be decreased significantly May affect share price any ideas ? |
And both still going up and posting gold records in all currencies. Will list when they clearly ease back .... or tomorrow! |
Thanks again for all your timely updates! |
What kind of obsession is this to down tick each and every posts and that too for over a year. This requires dedication and commitment! |
$2884 / Euro 2782 are new ATHs.
Edit - still going up. Will report the new records later ... |
.... aaaand up they jump. Both looking likely to finish the week on new MXN highs. |
The 20 year chart looks like this will head back to the top of the range (eg. 2000p) |
MXN664. MXN 58,855. They're very close to the week's closing high (and a new gold record close). |
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