LIVE Gold Prices $  | E-Mail Subscriptions | Update GoldSeek | GoldSeek Radio 

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

Is Gold Price Action Warning Of Imminent Monetary Collapse Part 2?
By: Hubert Moolman

Gold and Silver Are Just Getting Started
By: Frank Holmes, US Funds

Silver Makes High Wave Candle at Target – Here’s What to Expect…
By: Clive Maund

Gold Blows Through Upside Resistance - The Chase Is On
By: Avi Gilburt

U.S. Mint To Reduce Gold & Silver Eagle Production Over The Next 12-18 Months
By: Steve St. Angelo, SRSrocco Report

Gold's sharp rise throws Financial Times into an erroneous sulk
By: Chris Powell, GATA

Precious Metals Update Video: Gold's unusual strength
By: Ira Epstein

Asian Metals Market Update: July-29-2020
By: Chintan Karnani, Insignia Consultants

Gold's rise is a 'mystery' because journalism always fails to pursue it
By: Chris Powell, GATA


GoldSeek Web

Miners Were Right

 -- Published: Monday, 25 May 2015 | Print  | Disqus 

By Warren Bevan


Stocks and markets had another steady week as we moved into the long weekend and remain poised for a great move into new highs but they have yet to really do so.

            We’ve seen these slow grinding moves higher which have been followed by fast and hard corrections so any whiff of a strong correction will see me return to cash quickly so keep your eyes out for that potential.

            In the meantime, I’m heavy into stocks and they are doing well, it’s just now a matter of where to lock in gains.

            That said, more and more charts are setting up well so there is no lack of places to put money to work these days.

            As for the metals, they tried to  breakout but then failed and are now back in their ranges so there isn’t much to consider in that space for the moment.

            Gold lost 1.44% this past week after a failed breakout as the miners suggested last weekend.

            Last week I told that the miners led the breakout in gold and silver but then signalled that the breakout would fail and it did in the week just passed.

            Gold could not stay above the 200 day moving average at $1,220 for long and is now stuck back in its range.

            $1,220 on the upside and the rising lower end of this triangle near $1,190 on the downside.

            Triangle patterns are continuation patterns and the dominant trend does remain pointed down so chances are best that we see the next large move to the downside.

            The opposite is true of the S&P 500 who is breaking out of a triangle to the upside.

            Silver fell 2.40% this past week and also saw a failed breakout.

            Silver has a small bear flag now but overall is back in the range between $17.25 and $16.50.

            The trend remains lower so chances are best that the next major move will be lower even though the usual crowd continues to tell you the opposite.

            They’ve been wrong and will remain wrong until the action changes, which it hasn’t.

            Platinum lost 1.77% and is also now pointing to a move lower.

             A break under the 50 day moving average at $1,146 should see a break to the $1,090 area relatively quickly.

            Palladium lost 1.47% this past week and almost broke the lower end of the range at $770.

            This triangle pattern does point to a move lower as well and the $740 level should be where we find resistance next.

            I hope you’re enjoying your long weekend and this short letter since there isn’t much to say other than the metals tried to breakout, failed, and are now back in their ranges looking for a break lower.

            Thank you very much for reading and you can find out more about what I do for members as we focus on leading stocks for the most part at


| Digg This Article
 -- Published: Monday, 25 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 - 2019 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, Gold Seek LLC, its affiliates or advertisers., Gold Seek LLC 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, Gold Seek LLC, is strictly prohibited. In no event shall, Gold Seek LLC or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.