Gold Silver to crash

What you see is nothing yet compare to the days ahead. it will crash. Gold is nearing on the edge of a major sell off. Silver being weak will fall faster. Massive margin call is brewing. Charts later.
Gold Daily

Silver Daily

5 comments

  • quickbang

    Sir spy, do you think the crash you’re predicting would be huge?

    How would this affect the local mining stocks like PX, LC, MA, AT? Will it have a major effect or just a minor one?

    • Apo did correct although not related to mining but the divergence last friday signaled that the surged was emotional. For the likes of PX, LC , MA, by hindsight they are correcting a bit. Im looking to buyback PX though as the incoming ASM of Forum Energy come June 29 may entice investors to speculate regarding Sampaguita discovery. PX must not close 23 below (for the week, not daily but the whole week) for its status to stay parabolic. Last week it was at 22.80, now it increased. Caveat.

    • for silver im looking to cover at 29 level. im not short gold though but im looking at 1420s.
      For AT. There was no way we could find out last week, thus i opted to check APO. Last friday i was hinting about divergence forming. Its correction today was a bit of a concern for Atlas tomorrow.
      For PX, LC, MA they did correct a little except for LC but its B shares just slightly. Due to metals being weak is one reason, plain profit taking is a valid reason as well. For PX initial support was at 22.80, its friday’s level for rsi 70. Resistance then is peg at today’s rsi 70 level at 23. Another support is 21.75

  • DB

    Cool charts! There will be correction along the way how deep remains to be seen the third and fourth circle down are good targets. I believe these are great buying points as long as the US keep on printing money out of thin air and not to forget the looming debt problems in the Euro zones.

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