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

Gold Seeker Closing Report: Gold and Silver Gain About 1%
By: Chris Mullen, Gold Seeker Report

Northern Vertex Files Preliminary Economic Assessment Report for the Moss Gold Mine in NW Arizona
By: Northern Vertex Mining Corp.

Does The CoT Structure Prohibit A Rally?
By: Craig Hemke

Harry Dent’s Gold Prediction Invalidated
By: Przemyslaw Radomski, CFA

SELLING OUT OF PRECIOUS METALS AND BUYING BITCOIN…. Very Bad Idea
By: Steve St. Angelo

The Bitcoin Bubble Explained in 4 Charts
By: Jake Weber

VXX Sends an Awesome Message from Another Galaxy
By: Rick Ackerman

Geopolitical Risk Highest “In Four Decades” – Gold Demand in Germany and Globally to Remain Robust
By: GoldCore

Asian Metals Market Update: November-22-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain With Stocks
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
Another Magic Trick


 -- Published: Sunday, 16 November 2014 | Print  | Disqus 

By Warren Bevan

A strange week for markets having not really advanced, but importantly, have worked off their massive overbought reading.

          Leadings stocks are resting or consolidating a bit while some remain strong.

          The bottom line remains that we are in the thick of the nice run into years end and new buy points are setting up as I type.

          Metals were consolidating below key technical levels most of the week until Friday when they saw a nice move higher.

          My theme last week was that weekly charts are key here and that was my thought all week to subscribers.

 

          Gold gained only 0.78% for the week but did so in spectacular last minute fashion.

          Markets always try to shake out and get as many people on the wrong side as possible and that is what the gold market did this week.

          All week I told subscribers that gold did look fine and that I still thought a temporary low was in place, even though gold was a bit on the weak side.

          Gold had to close the week above $1,180 or risk moving lower right now.

          Waking periodically throughout Thursday night to check prices, gold was lower by $10 or more and that continued into the US open.

          I thought I was wrong, as often happens, but then gold began to reverse and run hard to the upside finishing with strong volume above the significant $1,180 level.

          That was lucky, but, as I said, the markets try to make you doubt yourself constantly.

          We are long gold via a gold miner ETF and it looks great for a nice move higher now but I won’t overstay my welcome.

          Gold now has the all clear to move to $1,220 where I’ll be looking to take my gains perhaps.

          All week I was getting emails telling me that gold was moving lower and all the “reasons” for it.

          If I say gold is going down, emails pour in telling me the opposite and vice versa.  I just can’t win in that game, but I do win in the stock game which really matters.

          I do use emails as a part of my sentiment indicator but I really don’t need to since the chart really does tell all, but it does make me chuckle how the same people seem to always be on the opposite side of me.

 

          Silver moved higher by 3.13% after spending the week consolidating.

          A great move that now clears the way for a hit of $17.

 

Platinum lost 0.16% this past week but is now on the way to $1,250.

          After $1,250, $1,275 will pose a bit of resistance and then there really isn’t much holding platinum back from moving up to $1,400.

          I am considering a trade in this but I’m pretty busy with other trades at the moment so I’m not sure I’ll take it.

 

          Palladium lost 0.91% this past week and doesn’t look super but the fact that it did try to break below the bear flag and failed is very positive.

          Palladium has been the last to fall in terms of metals for a long time now but at this moment it looks the worst!

          It will rise though with gold and silver regardless of how the chart looks.

          Don’t let the market take your money, study and learn the game and I can help you with that.

          Thank you very much for reading and you can find out more about whatI do for members as we focus on leading stocks for the most part at http://wizzentrading.com

          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, 16 November 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.