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

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

Jim Cook Interviews Ted Butler: JPM, Silver Investors & More
By: Ted Butler

Bitcoin's Strong Extensions Warn The Bear May Try To Come Back
By: Avi Gilburt

Housing Collapse 2.0 Continues as Predicted Here … as does everything else!
By: David Haggith

The Question of Gold Price Manipulation?
By: Craig Hemke

Precious Metals Update Video: Gold market is oversold
By: Ira Epstein

None Dare Call It Nonsense
By: Gary Christenson

Inured to Bad News, Stocks Waft Higher
By: Rick Ackerman, Rick's Picks

U.S. Global's Holmes confronts the monetary metals sector with proofs of manipulation
By: Chris Powell, GATA

Asian Metals Market Update: May-22-2019
By: Chintan Karnani, Insignia Consultants

Precious Metals Update Video: Gold is a frustrating market to trade
By: Ira Epstein

 
Search

GoldSeek Web

 
Metals Are Nearing Resistance While Markets Are Acting Strong


 -- Published: Sunday, 18 October 2015 | Print  | Disqus 

By Warren Bevan

Markets rested and worked off the extreme overbought conditions they were seeing last weekend and then Thursday they began to breakout and then rested a bit on Friday.

          The fact is, seasonality is working well so far and markets and stocks are in our favour.

          I’m starting to build positions now and we are seeing more and more stocks setup so it won’t be long until I have a full load of stocks to work with.

          I’m still looking for a strong end to the year as this bull market continues on.

          The metals moved well, and higher, this past week but gold is nearing resistance and I still do not think the major low is yet in, but I’ve been wrong before and will readily flip sides if I see the right evidence.

 

          Gold rose 2.38% this past week and did so with good volume.

          I still see the $1,000 as the area we need to hit before a major low is in place and we see the dominant trend switch to up once again.

          Gold has resistance at $1,200 now and that has been a heavy support and resistance area dating back to 2009 so it will be hard to sustain a move above that at this point in time.

          Last week I talked about the chances of seeing history rhyme by seeing gold show a breakout failure and that is likely as gold attempts to move past $1,200 if it can get there at all.

          I’d consider a breakout failure at $1,200 a good short area.

 

          Silver gained 1.86% this past week but couldn’t move up as well as gold.

          A break above the $16.20 level can be bought with $16.75 the likely area to lock in gains.

          So far, silver is having trouble getting away from the 200 day moving average as so often happens.

          I do not think the major low is yet in for silver either so if silver can get to $16.75 and stall then that can be a short level as well.

 

          Platinum gained a solid 4.12% on the week.

          If platinum can continue above this $1,025 area then $1,075 is the next resistance level.

          I’d consider a short if platinum stalls at $1,075.

 

          Palladium lost 1.74% and is having trouble with the 200 day moving average.

          If palladium can best $725 then $750 is the next resistance area to looks for but as always the caveat exists that platinum and palladium follow gold and silver so they must be watched carefully.

          Have a great, great 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 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 “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, 18 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 - 2019



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


Map

The views contained here may not represent the views of GoldSeek.com, Gold Seek LLC, its affiliates or advertisers. GoldSeek.com, 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 GoldSeek.com, Gold Seek LLC, is strictly prohibited. In no event shall GoldSeek.com, 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.