#Silver Poised for a Break-Out!

#Silver has been breaking through its short term resistance levels.  A Daily close above $25.50 will confirm this new Bull Market!

$SLV $SIL

https://www.tradingview.com/x/8khY8F73/

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MasterMetals

@MasterMetals

#Gold - #GoldenCross at hand?

The daily chart of the gold futures shows the 50-day moving average (blue line) crossing the 200-day moving average (red line).

This is called a golden cross. The golden cross is a technical chart pattern indicating the potential for a major rally.

The MACD (lower chart) is very oversold and crossing the red line. This supports higher prices. The Relative Strength (RSI) (upper chart) is also pointing higher.

There's a feeling that the gold price is currently being held back by silver prices, as the July silver futures contract is in the delivery month and the open interest, which is high, indicates holders of the contracts are demanding delivery.  😥 

The 30-minutes Silver Chart (1 bar every 30 minute), shows how the Big Boys are putting pressure on silver prices for this very purpose.  Once this is done, we could expect higher prices for Gold & Silver across the board. 

Stay tuned! 

https://bit.ly/MasterMetals

And It’s Off to the Races! Forget Silver, #Platinum is the best performing precious metal YTD $PPLT

Daily platinum futures chart with the recent strong advance.  

Platinum has been the best performing precious metal so far this year. The metal has been underperforming for years on oversupply and suffering from Volkswagen's emission scandal and the subsequent phasing out of Diesel worldwide —as platinum is used extensively in the catalytic converters on vehicles powered by diesel engines.

A new element for platinum now in the market is U.S.President Joe Biden's "new green wave," considered bullish for platinum, as it is used for hydrogen fuel cells in the drive of heavy- and light-duty vehicles. 

The market never waits until the last investor has seen all the details.  The time to jump in is now! 

A new study by Auctus Metals gives a lot of details regarding PGM's (Platinum Group Metals).

Attachment 2 shows the estimated platinum end-use in 2020 with the automotive sector consuming 30% of supply.

Attachment 3 indicates platinum estimated to be in deficit in 2020 due to COVID-19 and the Anglo American Platinum converter plant outage during the first two quarters of 2020 and additional closure announced in early November 2020 following a series of water leaks.

Attachment 4 displays a 5-year chart on platinum futures with the breakout on the upside in December 2020 at US$ 1'050 per ounce. Platinum is now in a long-term bull market.

A new element for platinum now in the market is U.S.President Joe Biden's "new green wave" is considered bullish for platinum as it is used for hydrogen fuel cells in the drive of heavy- and light-duty vehicles. The market never waits until the last investor has seen all the details. 

https://bit.ly/MasterMetals 

Here’s a #SilverBug’s view of the #SilverSqueeze $SLV $PSLV

The main issue with the COMEX is that, on average, they allow sales of 200x daily production almost every day. The COMEX was setup to allow hedging of production. You know, you are a wheat farmer and you want to hedge your production. Well, for most commodities, this is 125% daily production. Yesterday, you saw price go up $2, then smacked down $2 on approximately NINE HUNDRED DAYS PRODUCTION "UP FOR SALE" IN A DAY.

Here's a #SilverBug's view of the #SilverSqueeze

https://renaissancemen.org/2021/02/02/why-the-silver-longs-and-eric-sprott-can-defeat-the-silver-shorts-an-education-in-4d-chess/ 

Why the silver longs, and Eric Sprott, can defeat the silver shorts – an education in 4D chess

Worldwide silver shortage. Bullion stores sold out for weeks, if not months. No one selling their product to them for spot price. Bullion priced $10-$13 over spot. Silver deficit of mine supply of 350 million ounces.

And of course, you expect to wake up at silver $2 less than a day before. Actually – I did, many of you did not. The price is actually in "contango", where the futures price the last time I checked is wayyyyy above spot. I know how they play this game. At issue here is the disconnect between the REAL physical price and the "paper" price.

When you see a contango like this, you can, in essence, sell a futures contract, then go to the spot market and buy silver. You can then deliver the product on the futures contract. This contango was $.75 a few minutes ago, per ounce. For a contract of $5,000 ounces, that is $3,750 you can pocket on this deal. Of issue, NO ONE will do this, because anyone trying to buy on the spot market may get months of delays to get product.

Yet, prices are falling because we obviously have all of this supply!!!

The #SilverSqueeze is ON! $SLV

The #RedditTraders are all-in on #Silver! +10% for a start!

Metals Charts

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MasterMetals

@MasterMetals

#RedditTraders #Silver Frenzy calmed on Friday as investors weigh whether push by r/wallstreetbets board posters to create a short squeeze has legs

#Silver frenzy calmed on Friday as investors in miners' shares to ETF's and even the physical metal weigh whether a push by Reddit posters to create a short squeeze has legs. Silver has emerged as one of the latest targets of the r/wallstreetbets board  

Posts encouraged people to pile into IShares Silver Trust, the largest silver exchange-traded fund, and one described it as "THE BIGGEST SHORT SQUEEZE IN THE WORLD".

"It is true that the combined efforts of those on the Reddit forums can dramatically influence the price of individual stocks, but if you compare the size of the entire silver market to the market cap of the individual companies that forums have recently targeted, we don't see this as having potential to significantly move silver into a short squeeze scenario," said John Feeney, business development manager at Guardian Vaults, a Sydney-based dealer.

"Silver's market cap is too large and those on the forums typically want to see quick gains, so I wouldn't read into it too much," he said.

More on the silver market's volatile Thursday
Spot silver jumped as much as 6.8%, the most since August Options volume in IShares Silver Trust climbed to a record First Majestic Silver Corp., cited on Reddit as a short-squeeze target, gained more than 20% Silver Options Market Volume Surges on Reddit-Fueled Swings Spot Silver Bounces Off Key Average in Day-Trader Surge: Chart

See the whole story on Bloomberg here: https://www.bloomberg.com/news/articles/2021-01-29/silver-seizes-the-spotlight-following-reddit-day-trader-frenzy?utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-commodities&utm_source=twitter&utm_medium=social&utm_content=commodities&sref=VxHCy32x