After the horrible trade the last couple of days, gold and silver are charging higher. The real question, is this another trap or is the rally real? Unfortunately, we don’t know the answer. This could be the next leg up or a great selling opportunity. What we know today: the trend is down, metals [...]
Gold and Silver: Rally, Real or Trap?
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Silver Breaking Out to the Upside, Will Gold Follow?
Silver has reversed and broken out to the upside. After a week of consolidation, the buyers have showed up and pushed silver through the top. Gold has been in a similar pattern just a little weaker than silver, but an up day today should be enough to trigger a reversal. The recent trade in [...]
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Gold at Resistance, Silver at Support
It’s amazing how similar or correlated products can really trade in opposite directions. Gold and silver are doing just that. Although, they look similar in the charts, silver is in an uptrend as gold remains in a downtrend. This morning bother are lower. As a trader, I would consider spreading the two - long silver, [...]
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Gold Rush or Gold Crush
Just when it looked safe to get back in the gold waters, the sharks once again ripped the heart out of the gold bulls. Gold’s failure to break above resistance was a warning sign. Last week we wrote about the key resistance level that gold needed to break through...it failed. Silver, after breaking out [...]
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Gold is Falling and Can’t Get Up
The interesting thing about markets, just when you think you have figured them out, they do the opposite. Just six trading days ago the precious metals looked ready to run; we reversed our silver position to long. Since the peak on August 12th the metals have closed lower every day. Therefore, the price action is [...]
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Down They Go, Silver, Gold, and Platinum
The selling intensifies in gold, silver, and platinum. From the August 12th highs to new recent lows. The selling should continue although a rally in the next day or two would be no surprise. Often there are bounces from oversold conditions which is where the precious metals are now. We will sell all rallies that [...]
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No Reason Why Gold and Silver Should Rally
Although many believe that gold is a protective investment for their portfolio, they would be wrong. Gold, silver, and platinum look to be headed much lower. Last week’s rally attempt was put down; we expect more of the same. We are sellers of rallies at resistance levels. Precious metals are hard asset commodities that [...]
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Gold and Silver, the Beating Continues
Gold, silver, and platinum have fallen into a deep hole and show no signs over reversing. This has been one of the worst beatings for precious metals in a long time. Since the August 12th peak gold is down almost 7%, silver and platinum down almost 20%. The selling has been relentless. With some of [...]
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Gold and Silver, How Low Can They Go?
Although marginally higher this morning, gold, silver, and platinum are ugly. The big question: how low can they go? No one knows when the selling will stop however the price action is as bad as it gets. Every rally has been met with selling; there has not been a sustainable rally since early August. Since [...]
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Gold Sees a Short Covering Rally, Sell 1700
There is no surprise that gold has seen a small reversal this morning. After trading 1661 gold has rallied to 1689. We are sellers of this rally if it reaches 1700. The price action remains awful and there is no reason to expect the trend to change here. On the other hand, silver looks [...]
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