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 Weekly Wrap-Up: Gold and Silver Gain Over 1% and 2% on the Week
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 17 2017
By: Ira Epstein

Next-Generation Crazy: The Fed Plans For The Coming Recession
By: John Rubino

COT Gold, Silver and US Dollar Index Report - November 17, 2017
By: GoldSeek.com

Gold Minersí Q3í17 Fundamentals
By: Adam Hamilton, CPA

Bonfire of the Absurdities
By: John Mauldin

The Social Security Inflation Lag Calendar - Partial Indexing Part 1
By: Daniel R. Amerman, CFA

Rob From The Middle Class Economics
By: Gary Christenson

GoldSeek Radio Nugget: John Williams and Chris Waltzek
By: radio.GoldSeek.com

The Metals Market Is A Mess And Will Likely Continue To Frustrate You
By: Avi Gilburt

 
Search

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.

          Iíve 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 arenít 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 Iíd been wrong all these years and lost so much money Iíd be a bit jaded as well.

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

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

          Iíve got no issue with being wrong, itís staying wrong that I have a problem with.

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

          Anyhow, letís 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.

          Weíre now at $1,180 which is a support level still so letís 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.

          Weíre 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 Iíve 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 http://wizzentrading.com

          Warren

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

Free Service

          The free weekly newsletter ďWizzen TradingĒ 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 ďWizzen TradingĒ 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 ďWizzen TradingĒ.

 


| Digg This Article
 -- Published: Sunday, 3 May 2015 | 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.