Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek Radio Nugget: Louis Navellier and Chris Waltzek
By: radio.GoldSeek.com

For Americans Buying Gold and Silver: Still a Big U.S. Pricing Advantage
By: David Smith

It’s Time To Build The Launching Pad
By: Avi Gilburt

Ira Epstein's Metals Video 1 18 2018
By: Ira Epstein

Gold Seeker Closing Report: Gold and Silver Edge Lower in Late Trade
By: Chris Mullen, Gold Seeker Report

New York Fed official celebrates a century of market rigging
By: Chris Powell

COMEX Open Interest Data Suggests Another Gold Price Slam Imminent
By: Craig Hemke

Sell Bitcoin - Buy Tulip Bulbs!
By: Clive Maund

GoldSeek Radio Nugget: Dr. Marc Faber and Chris Waltzek
By: radio.GoldSeek.com

Central Banks Are Going to Have to "Pull the Plug" on Stocks
By: Graham Summers

 
Search

GoldSeek Web

 
Silver’s Low Risk Entry


 -- Published: Sunday, 2 February 2014 | Print  | Disqus 

By Warren Bevan

Markets continued to weaken most of the week and we were waiting for a nice bounce all week that finally came Thursday and there were some very great day-trading chances as a result.

          It’s not a market to take a long view in and I am not holding any positions overnight in at the moment since we often gap up or down and that just means risk is on.

          For now it seems day-trading only as a general rule and there aren’t many exceptions to this.

          It looks like this market correction is going to go deeper very soon and that's fine.

          We’ve run quite far, quite fast and a nice rest is due in order to maintain this bull markets strength.

          As for the precious metals, they didn’t fare so well but they are still fine here.

          The way they’d been behaving it looked like they wanted to move higher a bit quicker than I had hoped but this week changed things and they are taking their sweet time moving higher which is exactly how I want to see it play out.

          I’ve talked here multiple times about how this move off lows should be very slow and controlled in order for this move to last a long time.

          If you ever see a stock, or market moving swiftly higher then it’s near the end of its run and gold is only beginning this run.

 

          Gold fell 2.29% for the week.

          Gold was looking to break its long downtrend line but failed.

          We are not breaking down here, just resting more which is fine.

          This triangle pattern is getting tighter and tighter by the day and may have another week to go but no more.

          Above $1,260 is good while under $1,240 may well signal the double bottom is going to fail.

          We just have to wait and see how this plays out but I’m still not trading gold with so many other stocks moving so fast in this volatile market.

          I still am looking for a move higher and remain confident the double bottom will hold but if we break $1,240 I’ll quickly change my tune.

          I can’t be stubborn when it comes to trading or I’ll be broke before the end of next week.

 

Silver fell hard ending the week off by 3.92%.  Silver has a much different look than gold here but should follow gold wherever it goes.

          To me this level looks like a decent entry point with very limited risk.

          A buy here at $19 is easy to do with stops just under $19 in case it fails but as long as gold holds above it’s support then silver should be fine.

          This is one of the lowest risk entries I’ve seen in silver in a while.

 

          Platinum continued its slide after a failed breakout and ended the week off by 3.83%.

          The $1,400 support level couldn't contain price so lower we went.

          It’s so important to recognize and act on failed breakouts quickly or see losses grow.

          So far we are holding support at $1,360 and it looks like a low is in now but we need a close above $1,375 Monday to confirm this.

          If a low is not in then $1,340 is next.

 

          Palladium had a hard drop which took it lower 4.35% to finish the week.

          What a plunge here since its failed breakout back around $745.

          If we can’t hold this $700 area then the next major support level is $50 lower at $650.

          To me, I do not yet see a low but a few days holding the $700 area could make me change my mind.

          Thank you for reading.  Enjoy your weekend and the Superbowl that should be a great game, not to speak of the food!!

          Warren

          In my free, nearly weekly newsletter I include many links and charts which cannot always be viewed through sites which publish my work.  If you are having difficulties viewing them please sign up in the right margin for free at http://www.wizzentrading.com or send an email to warren@wizzentrading.com with “subscribe” as the subject and receive the newsletter directly in your inbox, links and all.  If you would like to subscribe and see what my portfolio consists of please see here.

If you found this information useful, or informative please pass it on to your friends or family. 

Free Service

          The free weekly newsletter “Wizzen Trading” does not purport to be a financial recommendation service, nor do we profess to be a professional advisement service.  Any action taken as a result of reading “Wizzen Trading” is solely the responsibility of the reader.  We recommend seeking professional financial advice and performing your own due diligence before acting on any information received through “Wizzen Trading”.


| Digg This Article
 -- Published: Sunday, 2 February 2014 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.