SILVER (COMEX) Silver Big breakout this week

Originally posted by goldbear77: ↑

the death cross is when the 50 day MA goes below the 200 day MA - not the 100MA

the pull back in the gold price was because the market expected a $US1-3t covid-phase 2 package in July/Aug that never eventuated - and then the market had to adjust for the expected improvement in US debt/gdp ratio as the expected 3rd qtr bounce occurred as the effects of the $US7+t COVD-1 package washed through their system.

US total national public debt to gdp ratio went from 143% to 128% as a result of that improvement in the Q3 GDP - but that build in the assumption it runs at that rate for the next 4 quarters.

its purely about market trimming and tacking between forward expectations and then what actually occurs

nothings changing the broad trend of higher US debt and higher US debt/gdp ratio

technically this is an excellent time to be getting long gold/silver again - forward expectation exuberance removed from pricing - now the market needs to start pricing back in both trend rate deterioration in US debt position + any additional spending they undertake to try to reduce the impact of COVID etc

its also increasingly clear that global reflation is occurring - just look at base metal prices zooming

that means USD is going lower and PM's going higher

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Thanks for your reply goldbear,

Yes, my mistake. It was the 50 day and 100 day MA not the 200 day MA.
However a TA exert I follow - I don't subscribe to his newsletter, I just follow him and that is because I'm long term bullish on PMs. Short term I am bearish.
Anyway his name is Garry Wagner and he specializes in precious metals, gold in particular.
Here is what he had to say about the Death Cross:
"For the first time since January 2020, the 50-day moving average crossed below the 100-day moving average. This is commonly referred to as a death cross. Most frequently the term is about when the 50dma crosses below the 200dma. However, it can be used as a term to describe whenever a shorter-term moving average moves below a longer-term one.For futures contracts, I prefer to look at the 50 and 100dma, which have provided reliable information and insight when used in conjunction with momentum oscillators such as the MACD, Stochastics, as well as fluctuations in daily volume."