Wednesday , 22 November 2017


Noonan On “What the Charts Are Saying About Gold & Silver Today”

…Earlier this year we said that 2014 could well be a repeat of 2013 in terms of unrealized171686-gold-silver-bars expectations for much higher gold & silver price levels and over the ensuing months have continued to advise everyone to stay out of the long side of the paper futures market for as long as the trend continued down. That came from an obvious read of the charts. This article looks at what the gold and silver charts are saying today.

The above introductory comments are edited excerpts from an article* by Michael Noonan (edgetraderplus.com) entitled Gold And Silver – Charts Show Power Of Elite’s Central Bankers.

Noonan goes on to say in further edited excerpts:

Silver: Weekly Chart

…15.04 was last week’s low, forming a potential double bottom but, as seen in the chart below, there is no indication that any kind of bottom is the process of being formed.  The recent break of support has squelched those efforts, for now.

SI W 8 Nov 14

It is not important that 15.04 hold as an absolute low.  What is more important is how market activity develops for whatever the eventual low price becomes, whether it is last week’s price, 14.65, or any
other number, 14.50, 14.32, etc.  (Maybe even lower?)

There will be evidence, through price and volume, that a bottom is in place.  It may take several weeks to confirm so it will not pay to try to be “first in.”  Let the market prove its intent, and then one can be in a more informed and comfortable position to make better decisions from the long side, should one want to trade paper futures (if there is even a viable futures market in which to trade, and there may not be).

Continue to monitor the way in which price responds or reacts to these lower levels.  If there is no strong rally higher, on increased volume and upper range closes, then it will indicate that the bottoming process will take much more time.  Be patient and allow your thinking to let the market develop as it will, for the controlling forces remain in place.

Silver – Daily Chart

The daily chart below shows another layer of bearish spacing as silver continues to weaken relative to gold.  At some point, either once a low has been established or once a trend higher begins, silver is likely to outperform gold over the next several years.

SI D 8 Nov 14

When silver was in the low 20 area, we said prices were likely at generational lows.  While now lower, the sentiment remains equally true.  This artificial manipulation may go on beyond what most expect or want, but it will come to an end, and then even $50 silver will look like a great buy.  Keep a level head in the face of recognized artificial adversity.

SI D 8 Nov 14

Gold: Weekly Chart

A comparison of the difference in how gold is developing around its barely broken support with
that of silver, as seen in the chart below, provides an idea of what to look for when one market more successfully holds an area versus one that fails to hold in similar circumstances.  All that can be said of gold, while stronger than silver, is that the trend remains down, and that is the most important
piece of information to know, for now.

GC W 8 Nov 14

Gold: Daily Chart

The chart below shows more of the same, observing how price responds to this critical support area. If there is more deterioration to come, how strongly does it impact price to the down side?

GC D 8 Nov 14

Conclusion

There are so many ways in which market activity can develop that it does not pay to try and outguess how price reacts.  Let it react, and then you are in a better position to react to what is known without having to guess.  Keep it simple.

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-charts-show-power-of-elites-central-bankers

If you liked this article then “Follow the munKNEE” & get each new post via

Related Articles:

1. Noonan: “Panic Selling In Gold & Silver A Positive Development” – Here’s Why”

What has been missing during this 3+ year decline in PMs has been what we have pointed to on several occasions, a form of ending action that sends a message that a change in trend is in progress. Last Thursday and Friday’s sharply higher volume and wide ranges lower is the kind of activity that leads to the end of a trend. There is not enough to say it has happened, to be sure, but the end game is starting to step up and be closer to a resolve of ending of the down trend. [Let me explain further.] Read More »

2. Noonan on Gold & Silver: “No Turnaround Soon; Just Keep Holding & Buying & WAIT!”

…Have gold and silver seen a bottom yet, and is there a turnaround soon in the cards? No, and no…It is still business as usual as gold and silver languish around recent lows.  There is no date one can mark on the calendar that points to an end of the Rothschild dominance over Western fiat currencies and their suppression of … Read More »

3. Noonan on Gold & Silver: “There’s NO Turnaround In Sight!”

Things just took a turn for the worst, and there is no turnaround in sight. Unless and until demand enters the picture, price will continue lower until it finds demand sufficient to effect a change. For right now, there is no demand apparent. What else can be said. This is like watching a car teetering on the edge of the cliff, waiting to see if/when it falls. The trend is down, and that is all you need to know! Read More »

4. Noonan: “Gold & Silver Will Turn When They’re Ready & They’re Far From Ready!” Here’s Why”

Time is running out for all the 2014 enthusiasts that are calling for higher prices in gold and silver by year-end. The lessons learned from 2013 have been forgotten as not only are prices not beginning to move higher, they are making new recent lows. Incredibly enough, many of these prognosticators are paid pretty well by their subscribers. Lesson to be learned? Absolutely no one can divine the future. Stop listening to what others are saying, and pay attention to what the charts are saying – and below is a summary of just that. Read More »

5. Noonan on Gold & Silver: “The Market Is ‘Speaking’ & THIS Is What the Charts Are Saying”

This is one of those times where it is best to focus on pictures of the market, over various time frames, to get a better handle on what to expect moving forward, and a look at the charts tells us in no uncertain terms that the end is not yet in sight. Here is our read of what the market is saying, and has been saying for some time. Read More »

6. Noonan: Nothing Much New In Gold & Silver Charts – Take a Look

The market has not changed materially over the past many weeks/months and, as long as the market has not changed, expectations that the price of gold and silver should not change, either. Expectations are future hopes/plans that may or may not ever be realized. Present market conditions are the reality of what is, without getting into the mental gymnastics about the degree of reality reflected in the charts. Market activity trumps everything, and one works with that reality or risks substantial loss by favoring opinion/hopes/expectations. Below is what the charts are saying today. Read More »

7. Noonan: Comments On Developing Market Activity For Gold & Silver

Ignore those pundits who are saying PMs are ready to take off. If you apply a little bit of common sense, and you look at these charts, can you draw any other conclusion(s)? Always remember: the markets never lie and here is what they are saying. Read More »

8. Noonan: These Charts Say Trend STILL Bearish For Both Gold & Silver

No one knows when gold and silver will rally and anyone who says otherwise has already been proven wrong. Despite a decent rally in both gold and silver over the past 7 trading days, a look at the charts shows that both remain in bear market conditions overall with no defined indication of ongoing strength. Read More »

9. Noonan: Everything’s Upside Down, Including the Price For Gold & Silver – Here’s Why

We live in an Alice In Wonderland, circa Orwell’s 1984 world. Everything is upside down, and that includes the price for gold and silver. Read More »

10. Noonan: How Long Will These Low Prices In Gold & Silver Continue?

How long these low prices in gold and silver will continue is the ever pressing question on the minds of the gold and silver community and topic of so many articles written by the experts. While many have striven to provide an answer, and 2013 failed to match the “predictions” as to the “When?” issue, the best answer is: For as long as it takes. Here’s why. Read More »

11. Noonan: What’s It Going to Take to Cause a Sharp Price Reversal for Gold & Silver?

There is not a shred of evidence that the price of gold is about to embark upon a much higher trajectory. What the market is saying is that nothing in the news is disturbing the bottoming process. Read More »

12. Noonan: Gold Remains Low For These Compelling Reasons

The current unnatural control over the natural forces of Supply/Demand could continue much longer than most expect – the disappointing expectations for 2013 may repeat in 2014. Here is how we see the developing “story” that explains why gold and silver have not changed trend. Read More »

13. Noonan: Forget About $5,000+ Gold; It Ain’t Goin’ Happen Any Time Soon!

Tell us where in the charts below there are any indications that the “true” value for gold should be in the $5,000 – $10,000 per troy ounce range, or silver in the $100 – $300 range. If you see extraordinary bullish signs within them, let us know, because we certainly keep looking and cannot find any needle in these “haystack” charts! Read More »

14. Noonan: Gold & Silver Will Not Rally-to-the-Sky in 2014 – Here’s Why

No matter what you hear or read about gold and the prospects for substantially higher price levels, the trend is down, exactly opposite of what you know. When you compare what you know, an opinion, with what the market is telling you, the market is a more accurate measure, however counter-intuitive it may be to your opinion, [and THIS is what the markets are saying]. Read More »

15. Noonan: These Are the Facts About the Current Price Movement In Gold & Silver

We are starting to see some subtle changes in market behavior but the trend currently remains down for both gold and silver. For those who want to grow their capital, the best time to make a market commitment is with the trend and given how no one knows how the market will correct, it is best to wait and see first what the market reveals. Below are some daily and weekly charts on gold & silver charts to show you how things are developing. Read More »

16. Noonan: The Trend in Gold Remains Down – But For How Long?

If your perception is focused solely on where the price of gold is, as opposed to where you think or believe it ought to be, the elites would like to sell you a renewable subscription to their “Fiat Is Better” newsletter. Read More »

17. Noonan: Charts Suggest Lower Lows for Gold & Silver to Come in 2014

Because the natural laws of supply and demand do not apply to gold and silver, the only way we can track the influence of endless paper supply on the market is through the most reliable source, the market itself, and the best way to track the market is through charts.Let’s take a look at what they are conveying today. Read More »

18. Noonan: “Gold Ain’t Going Higher – At Least For the Short Term” – and Here’s Why

Does the fast-fading world reserve currency [the USD] look like it is collapsing? A look at the performance of the U.S. Dollar Index does not suggest that it is, weak as it is. If the fiat dollar is not in danger of imminent “collapse,” or even breaking down, then gold does not have this event as an impetus for rallying higher. [Frankly speaking,] until that changes, gold ain’t going higher, at least in the short term. Read More »

19. Noonan: Here’s Why Silver Is So Low & What To Do About It

The demand for silver has grown exponentially in the past few years (record sales for American Eagle coins, record buying in India), but supply, on the other hand, keeps diminishing…Whenever there is a situation where demand rises sharply, while supply commensurately declines, it is a recipe for higher prices, and usually, much higher prices. This is true, unless one is talking about the silver market…[which] is at its lowest levels in the past three years. With talk of silver going anywhere from $150 to $500 higher, it currently struggles to hold $20. Why is this so? Read More »

20. Noonan: No Ending Action In Sight For Silver

The inevitable end for central bank control…is certain: the end is near, and fiat currencies are likely to implode and cause enormous financial ruin for those unprepared. It is crucial, now more than ever to be buying physical silver. Let me explain more fully and update you on just what the charts are saying today. Read More »

21. Noonan on the Merits of Using Charts & What They’re Currently Conveying About Silver

According to the charts, the price of silver is not ready to reverse its trend. [In fact,] the monthly chart, and the lower time frames, clearly indicate the trend as down….The probability is high (80%) that the last swing low (in June) to $18 will be exceeded. Read More »

22. Noonan: Charts Say “Still No Ending Action to Decline In Gold & Silver”

The decline is holding near the last swing low. Will the June low hold? The odds are greater for the low not holding, based on the trend, but there is no way to determine the probability of the June low giving way, for it is possible it will not. Read More »

23. Noonan: Charts Say NO End In Sight for Decline In Gold & Silver Prices

No matter what the latest “news” development is for PMs that paints a rosy picture, those in the fundamentalist camp are looking through rose-colored glasses to expect change in the near future. The charts for gold & silver continue to tell a more accurate story that belie all known fundamentals, and the charts shown here depict a market in decline with no apparent end in sight. Read More »

24. Noonan on Gold & Silver: “When Fundamentals Fail, Charts Prevail” & This Is What They’re Conveying

Fundamentals are relative, charts are absolute. They accurately reflect all that is going on, regardless of reasoning/motivation and…right now, the charts are letting us know that higher PM prices are unlikely to occur anytime soon. Barring some kind of “overnight surprise” that will shock the markets, odds favor lower prices over higher prices unless and until demand shows up in chart activity. Read More »

25. Noonan: When Will Silver Rise to Higher Values? Here’s the Answer

It takes time to turn a market around, and silver is in that process. There is no degree of certainty that a bottom has been reached, but there exist at least a probability the recent lows may hold. Whether the lows hold or not, one cannot lose sight of why accumulating silver has been so important. When price finally accelerates higher, the trying of one’s patience will quickly be forgotten and all will be well. Read More »

26. Noonan: Charts are Infallible! Here’s Why & What They’re Saying About Gold & Silver

Some of the finest and most highly regarded minds in the world of PMs have been saying gold and silver are going higher…[but] the charts have “said” otherwise, and that has been the correct read…The fundamentals may be as bullish as can be [but] the charts are sending a different message. Read More »

27. Noonan: Gold & Silver Could Move Sideways for Another 1-2 Years – Here’s Why

Using past history of how price responds, it is likely that gold, and silver, could move sideways for another year or two. While this flies in the face of so many current, supposedly “expert”, opinions [mine is not based on opinion but, rather, is strictly based on the facts as conveyed by the charts. Take a look and you will see that too!] Read More »

28. Noonan: These Charts Clearly Show What’s Happening With Gold & Silver – Take a Look

Below is a perfect example of how the charts timed the movement in the price of gold and silver over the past week. Yes, you CAN time the market as this article clearly demonstrates! When the market “talks,” we listen.] Read More »

29. Noonan: The Most Factual Information On Gold & Silver Is Right HERE

In an election, it does not matter if voter turnout is high or low, the outcome is determined by the actual votes cast. The same holds true for the markets. Only those who make an actual buy or sell decision determine the outcome of the market trend. The market “voters” turn up in charts, recorded in the price range, close, and volume. Collectively, a “story” unfolds, and it usually is an accurate one as it does not include any opinions. Opinions do not matter. Articles written about fundamentals, pundit declarations, etc., all fall under the category of opinions. The market is the best source for information, and that is a fact. Read More »

30. Noonan: “Where’s the Beef?” We See None in the Charts for Gold & Silver

…Fiats have an unbroken track record of failing throughout all of history. Gold also has an unbroken track record of being a store of value for over 5,000 years. Yes, there have been hiccups along the way, and we are in one now. It is what it is, but what it is is also an incredible buying opportunity at “fire sale” prices….[That being said,] a look at the charts of the paper-tracked PM market [beg the question] … “Where’s the beef?” Where is the substance of anything? We see none in the charts. Take a look. Words: 610; Charts :4 Read More »

31. Noonan’s Unique Approach to Technical Analysis Says This About the Silver Market

Technical analysis is a measure different from fundamental analysis…and we qualifying our approach with a specialized subset of technical analysis. How so? We read price and volume behavior, over time, in the form of developing market activity. It is what one sees on a chart, price ranges, close locations, volume, time factor[s], but no more. Below are charts that suggest that the weakness in silver may be coming to an end, sooner now rather than later, but that for now, it is what it is – and what is, is reality. Read More »

32. Noonan: NO Evidence of Change in Downward Trend In Gold & Silver…Yet

You will read more and more articles touting how gold and silver have bottomed. They have not, at least according to price behavior as determined by actual buyers and sellers in the market. Read More »

33. Noonan: Charts Suggest Potential Support for Gold Down at $1,040 to $1,100

If you want to make rabbit stew, first, you have to catch the rabbit so hopefully, first, we’ll see some concrete signs that a bottom is in before the regurgitation of “Gold is going to $10,000!” starts showing up in a host of new articles pandering for attention. The best way is to decide for yourself…so let us go to the most reliable source, the market, and see what the prices of gold and silver have to say about what everyone else has been saying about them. People have been known to exaggerate, even lie in their “opinions,” but the market never does either. Read More »

34. 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. All 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. Read More »

One comment

  1. I believe that when PM’s truly reverse their current trend, we will witness not only a rapid “recovery” but their values will continue to increase due to the “sorting out” of all the paper trading that has been going on.

    2015 looks to be a great year for PM’s…