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

Why We’re Ungovernable, Part 15: Germany’s Merkel Demoted To Figurehead
By: John Rubino

Are We Headed for a Passive Index Meltdown?
By: Frank Holmes

Post-Lehman Legacy and Gold
By: Arkadiusz Sieron

GoldSeek Radio Nugget: John Williams and Chris Waltzek

Silver Eagle Sales Surge In September As U.S. Mint Resumes Supply
By: Steve St. Angelo

Can Bitcoin's True Value Be Zero?
By: Avi Gilburt with Ryan Wilday

Dalio Warns Of Dollar Crisis – “History Is Doomed To Repeat Itself”
By: GoldCore

Gold Seeker Closing Report: Gold and Silver Gain with Oil
By: Chris Mullen, Gold Seeker Report

Gold Stocks Remain in Downtrend but Uranium Stocks on the Cusp of New Bull Market
By: Jordan Roy-Byrne CMT, MFTA


GoldSeek Web

Resistance Is Not So Futile

 -- Published: Sunday, 3 May 2015 | Print  | Disqus 

By Warren Bevan

Markets continued to be very choppy over the past week but they are holding key support levels still.

          Until we break above or below key levels a high cash position should be best.

          I’ve been mostly cash except for a few small trades the past 2 weeks.

          I have no problem waiting for high probability setups to form and there aren’t many out there right now.

          As for the metals, they rolled over hard from resistance levels and are once again looking for more weakness.

          Tuesday saw some of the regular perma-bulls emailing me telling me how wrong I am in a rude manner which really gives me no choice but to give their opinions little to no regard.

          I have no problem listening to a point of view but being rude is just so childish, then again, I suppose if I’d been wrong all these years and lost so much money I’d be a bit jaded as well.

          I’m not a bull or a bear, I just read the charts and do what they tell me.

          I have nothing against gold and I’m not in love with it, I look at it objectively.

          I’ve got no issue with being wrong, it’s staying wrong that I have a problem with.

          I will readily admit how often I’m wrong but I use stops and I’ll do what the charts and action tell me to do.

          Anyhow, let’s look into the precious metals charts this weekend.


          Gold lost 0.23% this past week in volatile fashion.

          Gold could never get above the $1,220 resistance level which would have been a buy area and then rolled over.

          We’re now at $1,180 which is a support level still so let’s see if we can break below this area in the week ahead and if we do, $1,150 is the next support area to watch.


          Silver gained 2.61% on the week and also ran into resistance before rolling over again.

          We’re trading in a range now between $16.75 and $15.50 on the downside.

          You can trade this range if you want pretty easily and the dominant trend still remains lower so chances are that is the direction we will see the next major move no matter what anyone tells you.


          Platinum gained 0.52% on the week and ran into the large downtrend line before reversing lower.

          The trend remains down and a break under $1,120 could be a good short level.


          Palladium gained 0.45% and is at resistance at the $785 level and it should roll lower shortly to follow the other metals.

          There is some support at $770, $760 and then $750.

          I hope you are having a great weekend.

          It's finally warming up in my neck of the woods so I’ve got to go and get outside after this long, long winter.

          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, 3 May 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 - 2018 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.