Thursday , 21 August 2014

Noonan: Charts Suggest NO Ending Price Action In Either Gold or Silver – Take a Look!

Not one Precious Metals guru has gotten anything right in the last 18 months.  All171686-gold-silver-bars have been calling for considerably higher prices.  Over the past several months none called for sub-$1,300 gold and sub-$20 silver. Crystal balls do not work and never have. When it comes to markets, anything can happen [but the charts convey that] there is no apparent ending action suggesting a selling climax or even a cause for a reaction rally. Take a look.

So says Michael Noonan (http://edgetraderplus.com) in edited excerpts from his original article* entitled Gold And Silver – The End Is Near; Just Not In Sight.

[The following article is presented by  Lorimer Wilson, editor of www.FinancialArticleSummariesToday.com and www.munKNEE.com and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. This paragraph must be included in any article re-posting to avoid copyright infringement.]

Noonan goes on to say in further  edited excerpts:

Why Buy Gold At ANY Price?

[In past articles]…we have advocated the ongoing purchase of physical gold and silver, held personally (if you don’t hold it, you most likely don’t actually own it and will get back paper, instead), and that is still our position.  For the most part, we have also maintained that one should not buy the paper futures because the charts say do not be long, plain and simple. We are even on record stating we have been buyers of the physical even at +$1,800 gold and +$40 silver…

Our reasons for buying and holding, and also recommending same for silver and gold, supersede its price. Why? Because gold and silver are wealth preservers and wealth creators, from out perspective, and that is the sole purpose for accumulating the physical, at any price…At some point, you either will not be able to buy it at prices under $1,900 and $50, respectively, or the government may (likely) intervene and make it near[ly] impossible to buy without having to submit to close scrutiny/registration, maybe even make it illegal…

Why Own Gold?

Those still in power will do everything they can to maintain it.  In the process, they will destroy the economy, civil liberties, the means of earning a living.  It will get ugly, especially for those less prepared, like those who chose not to buy gold or silver at any price when they could.

Here are a few other considerations:

1. Government confiscationNot very likely.  A replay of the 1933 Roosevelt Executive Order scam makes little sense.  Back in the 1930s,  much of the public owned gold and silver as a form of money, which it was, then.  Today, how many households actually own and hold gold and/or silver?  1%?  2%?  Whatever the number, it is small.  People since have been “dumbed down” about owning gold and silver, for it is no longer a part of currency, fiat or otherwise.   Even if there were some attempted form of confiscation, those who do own and hold PMs are not as susceptible to government-sanctioned theft.

2. Devaluation – This one could catch a lot of people off guard.  Most Americans think it only happens in poor, or debt-ridden countries – Hello! Welcome to the Third World America. The illuminati have long had plans to enslave this country, and it is almost a fait accompli. 20%? 50%?  Again, no one knows, but odds are heavily in favor of devaluation.  A huge reason for accumulating PMs, at any price.

3. Government Bail-ins, and/or confiscation of a different kind  – Was Cyprus a template? Absolutely, and not by accident.  Nothing, absolutely nothing happens in the banking world that has not been sanctioned, not by just the central banks, but by the controller of ALL central banks, the Bank of International Settlement (BIS).  This is where the head of the illuminati rule, unseen, unaccounted for, but they measure every “dollar” they deem you should be “earning” for your slave labor.  The BIS is  the Rothschild formula (“Give me control over a nation’s money supply and I care not who makes the laws.” Mayer Amschel Rothschild) in action.  Lend out fiat, demand actual assets in return payment.

M F Global was a form of uncontested confiscation.  Printing fiat-to-infinity is one of the most insidious forms of confiscation, via inflation, (since 1913 when the Federal Reserve Act came into being, and the NWO took power of this country’s money supply). Another potential form of government confiscation will be forcing public pensions, for sure, and eventually all forms of retirement accounts to buy worthless government bonds.

4. Civil war… social upheaval, revolution These are the more extreme forms of what can happen that will impact the worthless “value” of fiat.

Whatever the reason(s), it does not matter.  What does matter is that you have PMs and that you continue to buy them because the end is near.  What no one knows is when or how it all will end.

What Do the Charts Say?

We noted in a previous commentary that despite that recognition, the paper exchanges are still in “control” , at least for now, of PM pricing. We see nothing in the charts that suggests otherwise, yet, so here they are, just for drill, and reference.

a) Gold – Monthly Chart

Chart comments show monthly price is in an oversold condition, (oversold can easily become more oversold), and at a 50% of range possible support.  One does not use the monthly for timing, but for context.

GCA M 22 Jun 13

b) Gold – Weekly Chart

Important support was broken in the 1535 area.  The dashed portion of that horizontal line represents the future, and on a retest, it can offer significant resistance. It depends upon price activity leading up to it, at the time.

GCA W 22 Jun 132

c) Gold – Daily Chart

Despite the monthly chart showing potential support, neither the weekly nor the daily show anything similar.  We see no ending action suggesting a selling climax or even a cause for a reaction rally.  It may happen next week, but all one can judge is what is on the chart in the present tense. Remember, we are talking about futures showing no reason to be long.  There are so many reasons to be long the physical.  The two are distinct, although the former still has an influence on the latter, however one chooses to believe about the credibility of COMEX.

GCQ D 22 Jun 13

Silver – Monthly Chart

No ending action is foreseen.

SIA M 22 Jun 13

Silver – Weekly Chart

Last week’s simple observation of how weak silver looks has not changed.

SIA W 22 Jun 13

Silver – Daily Chart

The same is true for the daily.  Thursday was a wide range bar down on sharply higher volume; the market telling us sellers are in control.  Friday, last bar, was a weak response.

SIN D 22 Jun 13

Conclusion

No matter how many reasons one can give for saying the end is near, the charts are not supportive of the demand everyone recognizes for the physical.   The takeaway on this is how influential are the increasingly desperate central banking controlling forces.  They remain adamantly in control.

[Editor’s Note: The author’s views and conclusions in the above article are unaltered and no personal comments have been included to maintain the integrity of the original post. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.]

*http://edgetraderplus.com/market-commentaries/gold-and-silver-the-end-is-near-just-not-in-sight

Other Articles by Noonan:

1. Charts Provide Certainty – Not Opinion: Here’s What They Say About Gold & Silver

1 Comment

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Charts provide certainty, for they are absolute and the final word at the end of day, week, month, etc.   There can be no dispute over a bar’s high, low and close, plus the volume, for whatever the time period under consideration.  There is a high degree of logic within them and, while there can be differences of opinion over their interpretation, establishing a fixed set of parameters can mitigate most any potential dispute. So just what are the charts saying about the current trend in gold and silver? Let’s take a look. Read More »

2. Gold & Silver Rules of Engagement: IF This Happens, THEN Do That – Here’s Why, Here’s How

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Never go against the market. It does not matter what your beliefs are…It does not matter what the fundamentals are either. [What matters] is the TREND! Once you know the trend is up you need a game plan on how to participate from the buy side and when the trend is down, a plan ion how to participate from the short side.  If there is no trend, then the odds are not favorable for either game plan.[So exactly what are the charts saying about the trend in gold and silver these days? Read on!] Read More »

3. Gold & Silver: Don’t Wait for the Bottom – “Average Down”. Here’s Why

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You cannot control what others do, especially those in power. You can control what you do.  Just keep buying, regardless of price, because if/when the price of gold and silver were to go lower, you may not be able to buy.  If/when the price of gold and silver were to go higher, it may be at such an accelerated rate that any price in the past few years seem cheap. Words: 550 Read More »

4. Gold & Silver: It Could Get Uglier! Here’s What the Charts Are Saying

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The next chapter [in gold and silver] has yet to be written. One thing is likely to be certain, it will get uglier. The public will not be prepared for what could take a few more years to develop, and the potential for yet much lower prices for both gold and silver. Read More »

5. What the Charts Say About the Future Price Action of Gold & Silver

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The monthly silver chart does not reflect what could be viewed as ending action for the decline.  If/as price rallies, it may be more of a futures selling opportunity than a sign of recovery.  As the structure stands, odds favor lower price attempts. Read More »

6. The Best Article On “What Happened to the Price of Gold & Why?”

What happened?! is the question so many are asking about Friday’s waterfall in prices. A better question is, “Why?” Outside of the insiders, no one really knows. Yes, there can be some fairly cogent explanations, lots of glib answers, but no one knows, for sure. What we do know for sure is that the market is always the final arbiter [and this is what the market is saying:] Read More »

7. Drop in Gold & Silver An Attempt to Crush PM Advocates3 Comments

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Everyone personally holding physical gold and silver, as we have been recommending, has no margin call to meet and no reason to sell. This is a temporary situation, and it will pass. Now is not the time to panic, as that is the intent of the central planners/bankers in forcing gold and silver through strong support levels. Stay the course. To the extent you can, continue buying the physical metal. Read More »

8. Gold & Silver: Go “Get” While the Getting is Good! Here’s Why

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There will come a time, and based on current charts no one knows when, that prices for gold and silver will become prohibitive and/or governments will do what they can to inhibit (steal) ownership, maybe even making it criminal to own or use in transactions. [That being the case we advocate that you go "get"] physical gold and silver [while the getting is good], consistently and at any price.  The point here is not to “make money,” but to preserve and/or create wealth. [Let me explain.] Read More »

9. Cyprus is a Trial Balloon for the NWO – Buy Gold to Protect Yourself

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 Cyprus is a trial balloon for the NWO [New World Order], taking a small country that can more easily be controlled, putting the financial screws to bank depositors and then watching how it all unfolds, creating a playbook for future bank raids… If anyone thinks this [was] a one-time, knee-jerk response, the Bank of Cyprus is offering a free toaster for new deposits as a reminder that your money will be toast.   Read More »

10. Gold $5,000 & Silver $200? Market Reality Is Not Until…

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So many  headlines are saying “$5,000 Gold; $10,000 Gold; Silver, The Investment of the Decade,” etc, etc, etc.  Will that happen?  A history of failed fiat currencies says “yes”. When will it happen?  That is the question few articles address because they simply have no clue, beyond their sensationalized headlines. Who can best answer that question?  It is not “who can”, but “what can”, and that comes from the market itself – ever the most reliable source.  The answers may not always satisfy, but the market is never wrong [and this is what the market is saying]. Words: 590 Read More »

11. Spend Your Bernanke Bux Now on PHYSICAL Gold & Silver! Here’s Why!

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If Venezuela were any guide, we would have to say “Buy gold and silver, right here, right now!”…For those of you who hold Bernanke Bux, aka fiat paper, pay close attention. Those Venezuelan citizens who held paper Bolivars took a 46% hit on their purchasing power. Those citizens there who held gold and silver saw an equivalent 46% jump in their holdings.  If you think it cannot happen here, you are wrong.  It already has. Words: 295 Read More »

12. Gold & Silver: Its What the Charts Say, Not Fundamentals Or Opinion, and the Charts Say…

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All fundamentals and opinions are useless in the markets because they pertain to timing, and timing plays a huge role when investing/trading….[and only] put one’s belief system into a context with regard to the market[s]….It does not matter what others say about the market; what matters is what the market says about others. The market is, and always will be, the final arbiter of all “facts” and “opinions.” [This article give an update on exactly what the charts are currently saying about gold and silver.] Read More »

13. Gold & Silver Are the Achilles Heel of the Largest Ponzi Scheme – Ever! Here’s Why

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We are in a trench warfare with central bankers, hellbent on destroying capitalism, sovereign nations, currencies, all in the service of achieving world dominance, via deception, letting nothing and no one stand in the way.  The importance of gold and, to a lesser extent, silver are the Achilles Heel of the Bilderberg Clan’s largest Ponzi scheme ever.  Whatever one may think of the Mafia, they are bit players in contrast to the central banking clan, the most ruthless collection of individuals ever assembled. The Bilderbergers do not break legs or use baseball bats against their intended victims.  No, they are far more sinister and lethal.  They use money, instead. That’s it?!  That’s all you got?! Yep.  That’s all they need. [Let me explain.] Words: 960 Read More »

14. These Charts Provide Detailed Insights Into Gold & Silver Price Activity

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All known information is contained in the charts, and being able to read them is a distinct advantage.  The best way to achieve that advantage is to learn to make distinctions contained in the charts from one day/week/month to the next and this article does just that for both gold and silver. [Take a look.] Words: 1375; Charts: 6 Read More »

15. Gold & Silver vs. Fiat: Do You Live In An Imaginary World Or In Reality?

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Make no mistake about it, it is the central bankers that are leading governments around by the nose, and by proxy, governments leading people around by the nose, and that “nose” is inhaling “lines” of fiat. Unless cured, all addictions end badly, and the only “cure” central bankers have for ever-increasing fiat is, ever-increasing it more. [You can protect yourself, however, by] demanding less of the valueless fiat and keeping, and growing, your wealth by buying and accumulating real value: physical gold and silver.  Anything less, and you are still dealing in the imaginary world that is failing. [This article explains why that is the case.] Words: 834 Read More »

16. The Charts Tell ALL and THIS Is What They’re Saying About Gold & Silver for 2013

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It is impossible not to read some source…touting the “fact” that the price of gold and silver will be…["$x", "$y", etc.] in the “coming months” or in the “next year or two,” etc. The market, however, does not echo those…sentiments because that is exactly what they are, sentiments.  When it comes to sentiments or opinions, regardless of how close to source or how well reasoned, the market does not care. The charts are all-knowing, and they present everything known about the price, sans any opinion(s). Just deal with the facts and plan accordingly.  Trust the markets – they never lie – [and this is what they are saying about the price of gold and silver in 2013]. Words: 1889; Charts: 6 Read More »

One comment

  1. I guess that Michael Noonan does not follow Dr. Nu Yu’s excellent work:
    Gold between 1340 and 1480
    Silver tending toward 15…
    http://marketweeklyupdate.com/2013/06/10/06102013-market-update/

    I on the other hand thinK that PM’s are being played by the Central Banks, since they are now in a position to buy more for themselves with their own printed paper money…
    I believe that Silver will stay above $20, and then look out above as all PM’s suddenly takeoff!