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COMEX Silver To Test 2015 Lows
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Thread: COMEX Silver To Test 2015 Lows

  1. #1
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    Default COMEX Silver To Test 2015 Lows

    For nearly three years, we've contended that the price lows of December 2015 constituted a "bear market low" for COMEX Digital Silver. It now appears that this notion is about to be severely tested.

    Let's begin as we often do by asking you to go back and review something written a few weeks or months earlier. In this case, please check this link from late July:

    https://www.sprottmoney.com/Blog/potential-impacts...

    And now let's cut to the chase...

    When the prices of COMEX gold and silver bottomed in late 2015, we thought at the time that this was due to price finding a "physical floor". Simply put, the price of the digital COMEX derivative was constrained by the reality of sourcing and delivering actual, physical metal at a price below the average cost of production.

    As such, the price of COMEX gold traded all the way down to $1050, with COMEX silver reaching $13.60 before a sharp rally developed in the first half of 2016... rallies that led to a 30% jump in COMEX gold and a 50% spike in COMEX silver.

    And now here in September of 2018, prices are nearing these levels again, and many analysts are projecting that the same metrics which led to a bottom and bounce in 2015 will hold in 2018. Let's hope they're correct! However, as we've been reporting since June, there is one key difference between 2015 and 2018 that many are overlooking. The apparent yuan-gold "peg".


    "And as mentioned above, the price break at $14.50 almost guarantees an imminent test of the December 2015 lows in COMEX silver. The key level to watch will be $13.63. Any weekly close below that level would be extraordinarily bearish, and it would place the next downside target somewhere near $12".




    http://silverseek.com/article/comex-...015-lows-17399
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

  2. #2
    Join Date
    May 2007
    Location
    Atlanta
    Posts
    9,801

    Default

    Quote Originally Posted by valerb View Post
    For nearly three years, we've contended that the price lows of December 2015 constituted a "bear market low" for COMEX Digital Silver. It now appears that this notion is about to be severely tested.

    Let's begin as we often do by asking you to go back and review something written a few weeks or months earlier. In this case, please check this link from late July:

    https://www.sprottmoney.com/Blog/potential-impacts...

    And now let's cut to the chase...

    When the prices of COMEX gold and silver bottomed in late 2015, we thought at the time that this was due to price finding a "physical floor". Simply put, the price of the digital COMEX derivative was constrained by the reality of sourcing and delivering actual, physical metal at a price below the average cost of production.

    As such, the price of COMEX gold traded all the way down to $1050, with COMEX silver reaching $13.60 before a sharp rally developed in the first half of 2016... rallies that led to a 30% jump in COMEX gold and a 50% spike in COMEX silver.

    And now here in September of 2018, prices are nearing these levels again, and many analysts are projecting that the same metrics which led to a bottom and bounce in 2015 will hold in 2018. Let's hope they're correct! However, as we've been reporting since June, there is one key difference between 2015 and 2018 that many are overlooking. The apparent yuan-gold "peg".


    "And as mentioned above, the price break at $14.50 almost guarantees an imminent test of the December 2015 lows in COMEX silver. The key level to watch will be $13.63. Any weekly close below that level would be extraordinarily bearish, and it would place the next downside target somewhere near $12".



    http://silverseek.com/article/comex-...015-lows-17399


    Bulls and Bears all wrapped in one, with a nice warning that $12 Silver buying might very well be around the corner and maybe not!!!

    One thing for certain, if it hits the $12 level, nothing says it can't hit the $11 level. It's always nice to have some spare change to be able to jump on that "can't happen spot price" when it really does happen as it did back in 2008.

    A lot of people were shut out back then when they went all in at $14, $15 and $16 when it dropped down from $21 and didn't have anything left when it dipped well below $10.
    Last edited by valerb; 6th September 2018 at 13:35.
    I'm a proud member of Eggshellman's Liar, Shill, and bully club and a new member of the Super Jew Defense League!!!

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