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 Fall with Stocks and Euro
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 12 2018
By: Ira Epstein

Gold: Back Below Its 50-Day Moving Average
By: Ed Steer

JPMorgan Chase Trader Pleads Guilty to Gold Manipulation, Turns State's Evidence
By: Clint Siegner

SWOT Analysis: China Demand on the Rise
By: Frank Holmes

Gold Inflation
By: Steven Saville

Prices When Gold Is Money
By: Alasdair Macleod

Technical Scoop - Weekend Update November 12 2018
By: David Chapman

Warning: Precious Metals’ Prices are about to Collapse
By: Przemyslaw Radomski, CFA

Yet Another Trillion-Dollar Unfunded Liability, California Wildfires Edition
By: John Rubino


GoldSeek Web

Metals Seeing Short Covering & Ranges Set

 -- Published: Sunday, 26 July 2015 | Print  | Disqus 

By Warren Bevan

          Last week saw markets top out, for now, at resistance levels and it wasn’t rocket science to predict after such a strong previous two weeks.

          That said, there are some stocks who are holding up so I did do some buying and it ended up being a solid week for myself and subscribers.

          Gold on the other hand continued to waterfall lower until Friday and we now look set to see shorts cover and we should see a range trade chop around for up to a couple of months.

          The ultimate low in gold does not look to be in yet but we likely won’t move to the ultimate low around $1,000 until later summer or early fall.


Gold lost 2.99% this past week in a strong move lower on heavy volume and Friday began the short-covering move.

          We should build a base between $1,080 and $1,140 to $1,145 for a couple of months before we see the next big break lower which is likely to be where we can look for a major low to be put in and a trend change to finally begin.

          The major trend remains lower, quite obviously, and my hate mail indicator remains at zero.


          Silver lost only 0.68% this past week but was close to losing much more.

          It looks like silver has a wide range to trade in now between $14.50 and $15.50 and $15 is also a pivot point to watch for support and resistance areas to build.


          Platinum fell 0.41% this past week and still just follows gold and silver around.

          I’d look for a range between $1,025 and the $970 area as long as gold and silver are trading in a range and the next major support level is $800.

          There really isn’t a lot to say as the metals are finding lows and set up to range trade for a while but we will have some great moves lower once again and those should be quite easy to trade and quite spectacular, with a likely strong overshoot on the low-side to suck in the many perma-bulls who will finally give up and throw in the towel in a fit of rage, selling and despair only to see the metals turn up and change the dominant trend.

          It’s always the same for those who won’t learn this great game of trading.  The fools, don’t be a fool.


          Palladium slid 1.70% this past week and is also set to see a range trade now.

          Looks like $600 to the $665 area should be the range with $640 an area to watch for pivots.

          A nice easy and short letter for you this weekend with the next couple of months action looking to be set already for the metals so enjoy the summer unless the ranges I talked about are broken and then things may get serious quickly.

          Enjoy your weekend.

          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


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, 26 July 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.