with Anthony, ZigZag & Platy
In our last post about silver, we were looking for a top near the 9/29 Uranus-Earth conjunction. In fact, 9/29 was a Saturday, and silver peaked the following Monday.
Also mentioned in that post was a 10/28 Jupiter-Mars opposition, which resulted in a near-term top.
On November 1, geocentric Venus near gold’s 36° was opposite Uranus near 72°, and the metals reversed a multi-day uptrend.
On November 2, we had a very important Jupiter-Saturn-Mars Golden Triangle, discussed here and here, but I neglected to talk about its impact on the markets. This configuration occurred near gold’s 72° and silver’s 36° harmonics and we saw some panic selling for the metals.
It looks likely that we are near a bottom for the metals. But we should be careful to watch for Neptune going direct on 11/11. We know from past analysis that Neptune is very important to silver, being very close to one of its 72° (gold’s 36°) harmonic points. So this event may also mark an important turn for the metals.
(Neptune last went retrograde on June 4, 2012, and direct on November 9, 2011. If I get some extra time I will update this post with a short analysis of the impact of Neptune directional changes on silver.)