here is a recent post copied from 24k: Is the current PM bull run nearly over?
$USD. The DIX is rapidly approaching what looks to be significant support (see here & here). Now whilst, I think there will be obvious support here in the short-term, I am torn between whether this will prove major support. I would tentatively side with NW's analysis. I say 'tentatively' because, there are conflicting elements that support a substantial bounce in the $USD.
Silver. I recently watched Mike Maloney say that he had not become 'attached' to silver and would sell when the time is right. Well, I chuckled to myself because I would find it hard to envisage ever selling all of my silver stash! Point being, I have to acknowledge the 'emotional' influences on my judgement versus a clinical scientific approach :roll: . To this end, I think the current silver bull-run is just about done. Pix. Recently posted a chart on gei which shows a silver target of approx. $30, this opinion is shared by James Turk. However, I do not see this myself :think: , basically, through my own TA, I think that the trend of the overhead resistance was altered significantly during the 08 crash. Similarly, I have looked at key horizontal support/resistance lines in silver and these point to a top of just under $26 v.soon.
Who is 'right' on the finer detail of where the current silver bull will top is not that important to me - if it goes to $30 in this run I will be v. happy!. However, my quandary is that whereas I can see how the obvious support in the $USD may be breached, my own analysis points to a current silver top coinciding with a $USD low.
QE. PMN posted a very good article recently which is hard to ignore. To quote form the article:
PS. pix, i have added my own interpretation how the 'old' OH resistance can be met with the new resistance here (assuming it does hit the 'old' OH resistance)