Precious Metals Technical Analysis (01.29.2012)

[barnone11967]

you sound like you are getting a cold. Drink some OJ :). Hope you feel better.

[ChavonnNishino]

red bull or coffee?

[msa0709]

Thanks D.

[puttinaway]

thank you derek!

[spiritartman]

THanks again!

[BLynchCAN]

I'm thinking a smackdown to 26.

[Keemm89]

@BLynchCAN why?

[BLynchCAN]

@Keemm89 Look at what has happened before. Industry does not want to pay fifty dollars an ounce for silver. The price has to be kept down to justify the fiat. Imagine if silver was truly at $142 an ounce, it would be a different world. Also, you have the 'after December' lull. Can't wait to buy.

[Keemm89]

@BLynchCAN when do you think it ll go down?

[BLynchCAN]

@Keemm89 When you see it surge anywhere around 40. I image just take some debt, there's billions of it lying around, and write it off as a silver sell, bamm ! As Sheldon says. They might let it go up to 50 to make a point, I would. 

[Keemm89]

@BLynchCAN so to sum it all your saying it is most likely to go up to 40 and then take a sharp decline down to 26? I assume the decline is going to be trigged by QE 3 around March?

[BLynchCAN]

@Keemm89 Don't really see a full effect of Qe3 and silver price. Qe3 will affect the markets and currency and boistering the continued ponzy scheme. As long as new money is pumped in, the party goes on. Silver will shift by the monitary moves, by pressure but it is an metal commodity like copper. The price will be what will be paid for it. I would expect that the commodity prices will be tied down as best as possible before Qe3 and the EU contracts time out. February, a good month, March, brace.

[Keemm89]

@BLynchCAN ...? hmm I m not sure if I understand it right but... during last quater of 2011, I saw QE 2 get announced and European bond easing few weeks after and both times they showed sharp decline.. I would be very suprised if QE3 doesn't creat some sort of decline in the shrot term... I do understand that more the QE more the inflation and higher the gold goes

[BLynchCAN]

@Keemm89 You got it. There will be some effect but the price of silver will be manipulated to fit 'their' market.

[Keemm89]

@BLynchCAN ohhhh thank you very much for your kind answers... I have a better understanding of price maniplation now .. thank you :D

[highandwired]

Thanks Derek. 

[69goodfella]

woot first!