{"id":947,"date":"2011-05-24T12:50:39","date_gmt":"2011-05-24T16:50:39","guid":{"rendered":"http:\/\/www.silver-investor.com\/blog\/?p=775"},"modified":"2018-06-10T10:58:16","modified_gmt":"2018-06-10T10:58:16","slug":"where-now-for-gold-and-silver","status":"publish","type":"post","link":"https:\/\/www.themorganreport.com\/blog\/where-now-for-gold-and-silver\/","title":{"rendered":"Where now for Gold and Silver?"},"content":{"rendered":"

David A. Banister- www.MarketTrendForecast.com<\/a><\/strong>
\nWell, that was fun wasn\u2019t it gang?\u00a0 A huge drop in silver from $49.75 to the $32 ranges after 8 months of rallying from 19 to near 50.\u00a0 A 150% gain in Silver in eight Fibonacci months, sounds like a pretty overbought situation.\u00a0 Gold in the same time frame lagged badly, but all of that was predicted by me late last August due to the consolidating \u201cB wave\u201d in Silver that was preceding what I felt would be a \u201cmassive rally\u201d in the metal.\u00a0 Quite simply I said, investors will view silver as \u201ccheap\u201d relative to Gold and they will buy it instead of gold.\u00a0 I realize that makes no logical sense, but since when are the herd behaviors ever logical?
\nWhat everyone wants to know still is what is next for both Gold and Silver in their bull markets?\u00a0 When dealing with human behavioral patterns, it\u2019s as much art as science, so I do my best to ferret out the coming pivot highs and lows, and here is where I am at right now:
\nGold should work higher in a current \u201c5th<\/sup> wave up\u201d from the $1462 pivot lows to a bogey target of $1627, and once that is hit or close investors should be enjoying rallies in the Gold and Silver stocks but looking to trim back positions aggressively assuming I\u2019m right.\u00a0 Where that forecast could go wrong is if we close much below $1440 on spot gold before attacking and piercing through the old $1577 highs.\u00a0 As this final thrust up completes, not too many people will be on board because they all just got spooked out of the market with the silver crash. I expect a bunch to come in near the end and they may get smoked as Gold peaks out and reverses hard into a stronger correction than what we just saw.\u00a0 My subscribers will be informed at every pivot along the way as to the best action to take.
\nSilver will have the potential now to rally back up to the $38.70-$41.50 ranges if I\u2019m right about the Gold forecast.\u00a0 We had an interesting retracement in Silver that was between two Fibonacci pivots of 61.8% and 78.6%.\u00a0 Often in my forecasting career, I have seen retracements that end up around 71% of the prior major wave pattern up and therefore they throw off many Fibonacci watchers who are looking for that lower or higher level to make their entries.\u00a0 This is partially why I think Silver has bottomed out in price, but traders are hesitant to make a bold move here.\u00a0
\nSilver and Gold have another three Fibonacci years left in a 13 Fibonacci year bull market cycle, so other than some intermediate term tops and bottoms and chopping action, I am looking for much higher prices by the year 2014 in both metals.
\nBelow is my outlook for Gold intermediately:<\/strong>
\n\"\"<\/a>
\nIf you would like to be informed 3-5 times per week on SP 500, Gold, and Slver intermediate direction and price movements in advance\u2026 take a look at www.MarketTrendForecast.com<\/a><\/strong> today for a 24 hour 33% off coupon, and\/or sign up for our occasional free updates.\u00a0 Read what our paying customers are saying here: http:\/\/www.TheMarketTrendForecast.com\/testimonials.php<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

David A. Banister- www.MarketTrendForecast.com Well, that was fun wasn\u2019t it gang?\u00a0 A huge drop in silver from $49.75 to the $32 ranges after 8 months of rallying from 19 to near 50.\u00a0 A 150% gain in Silver in eight Fibonacci months, sounds like a pretty overbought situation.\u00a0 Gold in the same time frame lagged badly,More<\/a><\/span><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[121,89],"tags":[],"yoast_head":"\nWhere now for Gold and Silver?<\/title>\n<meta name=\"description\" content=\"Where now for Gold and Silver?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.themorganreport.com\/blog\/where-now-for-gold-and-silver\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" 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