Chris Kimble from Kimble Charting Solutions – Fri 30 Nov, 2018

Blast Off or Break Down? Key Silver Charts

Chris Kimble, Founder of Kimble Charting Solutions is back and sharing some key charts for silver. A number of charts are lining up to hit the point on depending triangle formations which is typically a bearish sign. However these formations can break to the upside on occasion which is what the silver bulls need to hope for.

Listen in to what Chris has to say and follow along on the charts below.

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Click here to visit Chris’s site for more valuable charting commentary.

Swiss Franc

Silver Monthly

Silver 44-year range

HUI Long Term Uptrend

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  1. On November 30, 2018 at 7:01 am,
    Chartster says:

    Silver is getting ‘Spanky’d.

    • On November 30, 2018 at 7:25 am,
      spanky says:

      lol. Are we in for another statistically impossible selloff for the next 3 weeks?

      $silver’s 5 week RSI has not hit overbought levels in 15 months.

      On the daily chart, the full stochastics have not hit overbought in almost 6 months.

      That is insane weakness. If it truly breaks down here is will be absolutely incredible from a TA perspective. Typically, you need some sort of bounce to generate the energy for a large downleg. Not with silver I guess!

  2. On November 30, 2018 at 7:30 am,
    spanky says:

    GDX needs to close above 18.92 today or you can pretty much guarantee it it will not rise above that level for the next 6 weeks since it will fall below the ichimoku cloud on the daily chart.

  3. On November 30, 2018 at 7:46 am,
    spanky says:

    Poor platinum. It has a triggered H&S top that projects down to $760–basically back to the August low.

    My goodness the metal bears are fearless.

  4. On November 30, 2018 at 7:52 am,
    spanky says:

    One thing strongly in platinum’s favor is that it is hitting the lower boarder of it Ichimoku cloud to the penny today (at $800 exactly). It’s a flat bottom as well, so it should in theory provide good support. But it only guarantees a few days respite. Platinum will be vulnerable again by next Wednesday.

  5. On November 30, 2018 at 8:04 am,
    spanky says:

    Today is super important for miners. If GDX can hold on, it means the bullish technical picture on the daily chart is still in play. In particular, I think the convergence of the 50 and 100 dmas is a potentially tremendous base building set up. The Ichimoku cloud also indicates the miners should do ok through the rest of December. But GDX needs to hang on today!

  6. On November 30, 2018 at 8:45 am,
    Marty says:

    SILVERCREST ( SILV) hasn’t blinked at all after the The near 2% takedown in silver this morning.Looks like they have a SUITOR going forward with SSRM FUNDING THEIR CASH NEEDS FOR THE NEXT FEW YEARS-31MM

  7. On November 30, 2018 at 8:51 am,
    spanky says:

    If GDX can hold on today, I don’t think we have seen such a solid technical setup on the daily chart in 7 years or more. I really mean that.

    Assuming she can hold on today, I do think GDX will be trading in a fairly narrow range for the next possible 10 weeks (I do assume it will tag the 50 WMA soon and then come back down to the 20 WMA before taking off for good).

  8. On November 30, 2018 at 9:35 am,
    Matthew says:

    GDM (the basis for GDX):

  9. On November 30, 2018 at 9:40 am,
    Matthew says:

    It would be helpful if GDX could get above 19.75 or so…

    • On November 30, 2018 at 9:44 am,
      Matthew says:

      Bullish big-picture speed line action:

    • On November 30, 2018 at 10:22 am,
      spanky says:

      Assuming GDX can hold on today, I am expecting the next pop to get to the 200 dma/50 WMA. I don’t think it will do that prior to the 19th though.

      I don’t think it can sustain itself for very long over the 200 dma though. I think GDX will probably come back down to test the 100dma/20 WMA before launching for good.

      • On November 30, 2018 at 10:26 am,
        Matthew says:

        If it can take back the 200 week MA (currently at 20.92), I don’t think it will give it up again for many years.

        • On November 30, 2018 at 10:34 am,
          spanky says:

          I agree. But I expect the first attempt to get rejected, although it is possible that it hangs up there for a few weeks or gets above just far enough to sucker new longs in.

          I think it comes back to test the 20 WMA.

        • On November 30, 2018 at 10:36 am,
          spanky says:

          The 50 and 200 WMAs are basically at the same level currently. I am expecting the FOMC meeting to send GDX to tag both of those MAs before coming back down.

  10. On November 30, 2018 at 9:45 am,
    Matthew says:

    The Dow has found resistance at the 30 week MA:

  11. On November 30, 2018 at 9:58 am,
    Matthew says:

    A 25% rise vs gold will give the XAU a huge breakout (sorry, monthly chart):

  12. On November 30, 2018 at 10:01 am,
    Matthew says:
  13. On November 30, 2018 at 11:42 am,
    Silverdollar says:

    It was a pleasure to listen to Chris……….in fact, I plan on running the tape again. It was also a pleasure to see Matthew and spanky interacting and commenting on each other’s thoughts…………..Keep it up!

  14. On November 30, 2018 at 1:15 pm,
    spanky says:

    They closed $hui right at the daily Ichimoku cloud border. I mean exactly. GDX closed well above its.

    I’ve seen enough. I think the low is in. I don’t think we are ever going to see sub $18 GDX ever again. I do think after a significant rally to say the 200 dma, price could come right back down to test this area. But that’s it. I am firmly in the grind higher camp. I don’t think the 2016 high will be pierced for good for another 2 years. Note, that doesn’t mean we can’t test that level sooner than that, but I would bet price will back off for a good while.

    • On November 30, 2018 at 5:32 pm,
      Matthew says:

      The miners have been grinding higher since the major low almost 3 months ago.

      • On November 30, 2018 at 5:33 pm,
        Matthew says:

        The miners will stop grinding and start flying when gold takes back the 200 and 600 week moving averages.

    • On November 30, 2018 at 5:35 pm,
      Matthew says:

      For next week, the clear resistance for gold to overcome is about 1229.

  15. On November 30, 2018 at 9:33 pm,
    Excelsior says:
    • On November 30, 2018 at 9:38 pm,
      Excelsior says:

      George HW Bush: Who are the Skull and Bones? The Yale secret society with three presidents among its ranks

      Cultish fraternity founded in 1832 continues to inspire interest and suspicion about the extent of its influence over the American elite

      Joe Sommerlad – Tuesday 8 May 2018

      • On November 30, 2018 at 9:44 pm,
        Excelsior says:

        George HW Bush a known Evil Pedophile

        Posted on October 26, 2017 by stopthecabalblog

        “George HW Bush is a known evil pedophile, who ran a Congressional Blackmail Child Sex Ring during the 1980s known as “Operation Brownstone and Operation Brownstar”, and later to become known as “The Finders or The Franklin Coverup”. U.S. Vice President George HW Bush would sneak children over to Senator Barney Frank’s condo, known as a “Brownstone” to their famous cocktail parties, where U.S. Congressman and U.S. Senators — some willing and some unwilling participants — got a taste of the “Voodoo Drug” in their drink.”

        • On November 30, 2018 at 9:47 pm,
          Excelsior says:

          Ex-President George H. Bush accused of war crimes and political killings
          Seán Mac Mathúna

          • On November 30, 2018 at 9:48 pm,
            Excelsior says:

            George Bush oversaw covert CIA operations?

            Rosalind Muhammad – West Coast Bureau Chief


          • On November 30, 2018 at 9:50 pm,
            Excelsior says:

            Rest In Pieces……

            Another evil NWO neocon nut job bites the dust…..

            We’ve had the evil David Rockefeller go down, Zbigniew Brzezinski is taking a dirt nap, and now papa Bush.

            When will George Soros kick the bucket so we can clear the deck?

          • On November 30, 2018 at 9:53 pm,
            Excelsior says:
      • On November 30, 2018 at 9:56 pm,
        Excelsior says:

        George Herbert Walker Bush, America’s Unrecognized War Criminal of the Century

        By Jim Kirwan – November 19, 2010

        • On November 30, 2018 at 9:58 pm,
          Excelsior says:

          How Bush’s grandfather helped Hitler’s rise to power

          “George Bush’s grandfather, the late US senator Prescott Bush, was a director and shareholder of companies that profited from their involvement with the financial backers of Nazi Germany.”

          “His business dealings, which continued until his company’s assets were seized in 1942 under the Trading with the Enemy Act, has led more than 60 years later to a civil action for damages being brought in Germany against the Bush family by two former slave labourers at Auschwitz and to a hum of pre-election controversy.”

          • On November 30, 2018 at 9:59 pm,
            Excelsior says:

            Summary Of The Bush Crime Family* History


          • On November 30, 2018 at 10:18 pm,
            Excelsior says:

            Bush Sr’s Carlyle Group Gets Fat On War And Conflict

            By Jamie Doward The Observer – UK 3-25-3


          • On November 30, 2018 at 10:24 pm,
            Excelsior says:

            So before we are inundated in endless fanfare, tributes, and glorification of this evil dude by the lame stream media, it seemed worth remembering what terrible atrocities have been committed on humanity by Papa Bush and that this new world order is better off without him.

    • On November 30, 2018 at 10:10 pm,
      Excelsior says:

      George Bush New World Order

  16. On November 30, 2018 at 10:20 pm,
    Excelsior says:

    Sorry to go off topic, but it was topical news and there were no political blogs today.