With silver nearly touching $55, an important technical support level… what’s next? Will gold and silver experience a BREAKOUT HIGHER, or will they fall below technical support levels? Also, I explain why there is a lot of BS out there and why it’s not good for you.
While many Silver Stackers DO NOT believe in technicals, that’s okay, but Small-Large Traders, Momentum Traders, and Institutions do use technicals, and price moves are based on this.
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The price of silver always bounces off the cost of production. If there’s a sudden bear market the metals will be dragged down. If part of the cause of a bear market is a spike in the price of oil, that also raises the cost of production. How much is the cost of production raised for each $ 10 hike in the price of crude? Thanks.
Hello Steve and Company —
I just noticed this video posted to the general public (GP) on YouTube. I am good to see periodic videos posted to the GP as this generates an increase in membership / subscribers to the SRSrocco Report. More members create more perspectives in the comments section. A good portion of my membership fee is paid in anticipation of the feedback from members, and our host.
I concur — there is a lot of nonsense being pushed out to the airwaves / internet. One of the challenges is in cultivating a reliable BS Detection Kit. Folks like Keith Neumeyer and Alasdair Macleod can talk a good game and come across as reliable sources of information based on their background — Keith being the CEO of First Majestic and Alasdair with his confident diction and performative presentation.
A strong tell for detecting BS — use of ALL UPPER CASE and Exclamation Points!!! Add to that the keywords, including EXPLOSION, 500%, DO NOT IGNORE, MARKET CORRECTION, etc… these poke the emotional side of the brain as opposed to the cold, rational logical side.
In an odd twist, I believe that “Technical Charts” — often used by the likes of several high-subscriber podcasters, are similar to the use of exclamation points … the Cup and Handle, Double-Shoulder, Fibonacci Retracement, Hailstone Collapse, Coincident Concurrence and sundry other charty-patterns, these all contribute to building a picture that can sell a narrative. They are then self-reinforcing: the charts manifest the narrative and the narrative is illustrated by highlighting and dragging particular regions of a chart. Francis Hunt (The Market Sniper) uses charts in most of his presentations; however, I find that his content is far more effective when he skips the charts and just speaks from the fundamentals. That could just be a measure of how my brain was wired up at the factory.
I’ve been conducting research (getting assistance from Copilot) regarding the prospects of a global deflationary depression wherein the degradation occurs over the next 10 years followed by 20+ years of a world economy dragging its chains along the bottom of a literal debris field, the massive decay and collapse resulting from the inability to service and maintain the build-out over the past 100 years. This dystopian future has appeal as it will solve a great many problems. It will be like a widespread natural forest fire, clearing away much of the old, decaying, decadent and delusional rot. Of course, this sort of financial future often leads to wars and other state-imposed measures that make matters worse. The times ahead appear bleak at best.