Today gold futures have tumbled $90 and silver has broken below $32 as the US dollar threatens a counter trend rally.

Silver
May 1 (King World News) – Graddhy out of Sweden:  Silver has a very interesting setup very short term right now.

A left translated daily cycle leading into a weekly cycle low, often rolls over for the daily cycle high on day 5-12. That means that silver is now showing strength by making a new daily cycle high yesterday on day 15, plus by holding above 32.77 level for 5 days mid daily cycle.

For every day now that silver can hold 32.77 level, the odds increases that silver had an anomaly weekly cycle low at the Trump tariff crash low.

KING WORLD NEWS NOTE: Odds Increasing That Trump Tariff Crash Low For Silver Put In Final Weekly Low

Silver
Graddhy out of Sweden:  I have been saying for a year that silver is climbing the right side of the orange rounded bottom/arc.

Crashed & backtested $28.50, now holding red $32.77 level so far.

It sure looks like silver is stair-stepping up using pink lines; breaking above then backtesting.

KING WORLD NEWS NOTE: Silver Has Broken Below $32.77. We Will Have To See If It Can Break Back Above Or If Silver Retests The Recent Low.

Gold & Silver
Graddhy out of Sweden:  Posted this setup first time at blue breakout on gold. Few believed. Still on track.

Silver crashed, then recovered back above red line (bottom portion of the chart below).

KING WORLD NEWS NOTE: Gold 4-Year Parabolic Move Intact. Silver’s  4-Year Parabolic Base Preparing For Blastoff

And that is ok since gold is the driver of the PM bull.

Inflection point right here for silver at $32.77 for this weekly cycle – it needs to decide.

King World News note:  If the price of silver breaks down with gold, silver may test the recent lows near $28.50.  If that takes place, use that significant weakness to continue to accumulate physical silver.  The Gold/Silver ratio at 100/1 is not sustainable over the long-term.  It is possible that the ratio could go higher before it goes lower, but eventually the Gold/Silver ratio is headed back below 30/1 and most likely to 15/1.

One Of Greyerz’s Greatest Interviews Ever
To listen to one of Egon von Greyerz’s greatest and most important interviews ever CLICK HERE OR ON THE IMAGE BELOW.

JUST RELEASED!
To listen to Alasdair Macleod discuss the pullback in the gold market as well as the advance in the silver and much more CLICK HERE OR ON THE IMAGE BELOW.

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