Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page >> News >> Story  Disclaimer 
Latest Headlines

Gold Juniors’ Q4’17 Fundamentals
By: Adam Hamilton, CPA

GoldSeek Radio Nugget: Bill Murphy and Chris Waltzek

Markets Have Gone “Thelma and Louise”
By: Gary Christenson

Debt Cycles and Gold
By: Arkadiusz Sieron

Global Trade War Fears See Precious Metals Gain And Stocks Fall
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Pare Yesterday’s Gains; Dow Drops 700+
By: Chris Mullen, Gold Seeker Report

SSR Mining begins drilling at Eagle Plains (TSX-V: EPL) Fisher Gold Property
By: Nicholas LePan,

Worried About Rising Rates? I Believe this Strategy Could Be the Answer
By: Frank Holmes

Is It The Trade War Threats Or Extreme Overvaluation?
By: Dave Kranzler

GoldSeek Radio Nugget: Peter Schiff and Chris Waltzek


GoldSeek Web

Silver Is Now Leading Gold Lower

 -- Published: Sunday, 8 February 2015 | Print  | Disqus 

By Warren Bevan

A tricky week that I did not handle well.

          I’m still trading very very light but it seemed most of what I tried didn’t work and I ended the week down which does happen sometimes.

          I’m not perfect and never profess to be, but I do pretty well mostly.

          Anyhow, I’m trading small and even smaller until I get my rhythm back but markets are at a band of resistance and they are struggling to move past it for now and normally I’d have taken a short position in anticipation of a move lower but not the way my luck has gone this past week.

          As for metals, they were setting up well for a breakout higher all week until Friday when they broke support solidly so let’s take a look at the charts and get a feel for support areas and what to look for next.


          Gold lost a hefty 3.82% this past week after breaking the 200 day moving average hard Friday.

          All week we were setting up a great descending channel that was set to break higher but subscribers had the obvious caveat that a break below the 200 day moving average would be a sell signal and annul the bullish pattern.

          Friday saw heavy volume pushing gold lower and it’s already at the 50 day moving average support level which should hold for at least a few days.

          From here to $1,220 is a support area and all we can do is wait to see what comes next.

          It’s never a positive sign to break a bullish pattern and silver is telling us gold has further to fall.

          A move under $1,220 will see me bring back talk of a move down to $1,000.

          Below $1,220 support sits at $1,200 $1,180 then $1,160.

          It’s hard to say much else right now until we get a few more days of trading to form something on the charts but lower looks to be a fairly safe call.


          Silver lost 3.25% last week but mostly on Friday.

          I kept talking to subscribers all week about the strange divergences between gold and silver.

          Usually their charts match up pretty well but silver had a decidedly bearish chart while gold had a bullish chart and this was confusing.

          Gold had been leading so I weighed in golds favour and remained bullish and even took a small long position in a miner ETF as it broke out Thursday but that opened with a gap lower Friday which saw me take my losses quickly before they grew and they would have.

          So, it looks like silver is now leading gold once again and it is pointing to lower prices.

          This slanting head and shoulders has now broken and points to a test of $15 in short order so gold is likely to follow and move back to test $1,180 once again.

          There is some support every $0.50 below for silver until $15 but the power of this break tells me we shouldn’t take too long to hit $15.


          Platinum lost 1.54% over the last week and is just now breaking its slanting head and shoulders pattern which points to a test of $1,125 shortly.

          Maybe a week or 2 tops before we see this low and then we see what forms next but the monthly chart is quite bearish and still points to a move to $800.

          It’s too bad the metals have rolled back to a negative outlook so quickly but it happens and all we can do is adapt.

          This game is not about being right, it’s about making money so I have to change my view as prices and action dictates.


          Palladium was the sole standout and gained 1.32% for the week.

          That said, this triangle does point to lower pries and with the other metals weak, palladium won’t have a snowballs chance in Tahiti.

          A break above $800 would be very positive but chances are much higher that we break the uptrend line around $780 and move back to $740.

          I hope you have a very restful and relaxing weekend and remember to keep trading small if at all until we get better acting markets which could happen at anytime.

          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


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, 8 February 2015 | E-Mail  | Print  | Source:

comments powered by Disqus


Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to >> Story

E-mail Page  | Print  | Disclaimer 

© 1995 - 2017 Supports

©, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of 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 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, its affiliates or advertisers. 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, is strictly prohibited. In no event shall or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.