#Gold #SP500 As we cower in our homes in the UK, a country where anarchy is expected, thanks to Parliament being suspended, the rule of law ignored, our thoughts turn to precious metals and the need to put something aside for a rainy day. Historically, we’ve regarded Silver with distrust but it appears something may finally be happening.
If we’re reading the numbers correctly, should Silver now exceed just 19.80 dollars, we should anticipate growth to an initial 20.5 dollars. Whilst we quickly concede this isn’t particularly interesting, in the event of the metal managing to actually close a session above 20.5, continued travel to a secondary of 23 calculates as very probable. Above this point, it gets a little irrational as there’s very little to hinder rapid acceleration to 29 dollars.
Worth pointing out is an unpleasant facet of Silver.
Historically, price movements against the metal were capable of making Bitcoin look like a paragon of ethical behaviour. Visually, we’re fairly happy to project 23 dollars as it makes sense. As for the potential of acceleration to 29 dollars, the visuals hint this is possible but we’d warn, if such a journey happens quickly, it’s liable to be reversed even faster. Our distrust for Silver movements obviously adds to our bias but if collecting for a rainy day, it can be easy to get wet and catch a cold! The price of this metal needs above 35 US dollars before we’d abandon scepticism and hope for the future.
Finally, if it now melts below 17 dollars, hope for the immediate future vanishes. However, cheaper silver will doubtless fuel the supply of silver bullets, ensuring werewolves and vampires remain a rarity – at least outside UK politics.
|
Time Issued |
Market |
Price At Issue |
Short Entry |
Fast Exit |
Slow Exit |
Stop |
Long Entry |
Fast Exit |
Slow Exit |
Stop |
Prior |
|
10:04:58PM |
BRENT |
62.34 |
‘cess | ||||||||
|
10:07:28PM |
GOLD |
1499.62 |
1497 |
1489 |
1476 |
1512 |
1515 |
1519.5 |
1527 |
1502 | |
|
10:16:18PM |
FTSE |
7241.25 |
Success | ||||||||
|
10:18:22PM |
FRANCE |
5588.7 | |||||||||
|
10:20:00PM |
GERMANY |
12226 | |||||||||
|
10:21:51PM |
US500 |
2978.87 |
2968 |
2961 |
2952 |
2980 |
2984 |
2989 |
2996 |
2975 |
Shambles |
|
10:24:20PM |
DOW |
26842.7 |
Shambles | ||||||||
|
10:26:36PM |
NASDAQ |
7830.25 |
‘cess | ||||||||
|
10:31:05PM |
JAPAN |
21343 |
Success |