….Here is a quick video I did of my trade in gold on March 9th. This video shows a trade using the 5 minute spot gold chart profiting $6.00 per ounce with minimal downside risk….
Last week was exciting as we saw stocks and gold close above the February highs which confirms we are in a new up trend. The question everyone is wondering is…..
I would like to see gold pullback one more time and make a new multi-week low before heading higher. We did see extreme fear in the market 2 weeks ago which is when we took some long positions, but the lighter volume rally is not giving me comfort in adding more positions at this time….
Gold has been doing much the same as the over stock indexes and I feel the same will happen here…..
This type of sentiment and price movement warns us of a possible market bottom. I am getting the feeling that traders and investors have been expecting……
….but in reality you must do the opposite of the masses during times of extreme price behavior….
So in a perfect trading scenario, the dollar will continue to climb for a few more days to reach resistance and in return that will push gold and silver down for a few more days…..
Silver has a funky looking chart. It has formed a large megaphone pattern and possible head & shoulders pattern. Both are bearish and if we use the….
The HUI (Gold Stock Index) has been on fire the past 10 months. Both gold and gold stocks have been leading the market higher. But the past month we have seen gold stocks under perform the SP500 and as of today are testing a key support level. Only time will tell if it bounces or breaks, so keep a close eye on your positions.
The commodity futures charts and gold precious metal stocks have be trading with increased volatility as they bounce between support and resistance levels on the daily and hourly charts. This report is focused more on technical analysis and charts so that I can show you what I feel these commodities are lining up to do. … Continue reading “Gold, Silver, Gold Stocks Update”