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 Miners’ Q3’17 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

 
Caution Here


 -- Published: Tuesday, 13 October 2015 | Print  | Disqus 

By Craig Hemke

As we discussed in Friday's podcast, be on the lookout for some Cartel selling this week as gold approaches some key resistance and silver gets a bit overextended.

Gold rallied overnight and extended those gains in the NY pre-open. However, check the high for the day...$1168.60. And what was the intraday high back on "Blue Monday", August 24? $1169.80. So in order to make our first "higher high" in a while, gold needs to plow through that $1170 area. Is there any surprise, then, that it stopped just below and has now reversed back down to $1162?

Of course, there's still a possibility that it could break through $1170 and keep moving higher. It's above it's 2015 downtrend line AND it's CoT structure isn't that bad. IF it can keep moving higher, the obvious target is the 200-day moving average, found today near $1178:

And even longer term, watch for key resistance near $1230 and this 2.5-year down arrow:

However, and as discussed on Friday, my main concern continues to be what They may be preparing to do to silver in the short term. Though gold may continue to climb higher AND though this may help silver hang in there, the CoT structure has changed significantly AND there are two other factors which concern me:

And, I don't know, but do you see a little JPM cap going on at the 200-day? Maybe?? Or is it just me???

I mean, seriously. How many times have we seen this pattern play out? A thousand times? It's like Groundhog Day!

  1. Price rallies on some fundamental news or simple short covering.
  2. Cartel Bank (JPM) sells like crazy in order to manage the rally.
  3. Price gets hard capped at some key technical point or moving average.
  4. Momentum stalls.
  5. Bank raids price to set the trend back lower.
  6. All of the brand new Spec longs immediately head for the exits and get flushed back out.

So, would a drop back toward the black UP arrow and the 50-day moving average surprise anyone? Not me!

It's a bank holiday in the U.S. today so be wary of the action overnight and into tomorrow when The Monkeys return to their desks. I'll be typing a public post next that details the latest BPR and we'll have the usual podcast later, too, so please be sure to check back later.

Have a great day.

TF

http://www.tfmetalsreport.com/


| Digg This Article
 -- Published: Tuesday, 13 October 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.