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 Closing Report: Gold and Silver Gain About 1%
By: Chris Mullen, Gold Seeker Report

Northern Vertex Files Preliminary Economic Assessment Report for the Moss Gold Mine in NW Arizona
By: Northern Vertex Mining Corp.

Does The CoT Structure Prohibit A Rally?
By: Craig Hemke

Harry Dent’s Gold Prediction Invalidated
By: Przemyslaw Radomski, CFA

SELLING OUT OF PRECIOUS METALS AND BUYING BITCOIN…. Very Bad Idea
By: Steve St. Angelo

The Bitcoin Bubble Explained in 4 Charts
By: Jake Weber

VXX Sends an Awesome Message from Another Galaxy
By: Rick Ackerman

Geopolitical Risk Highest “In Four Decades” – Gold Demand in Germany and Globally to Remain Robust
By: GoldCore

Asian Metals Market Update: November-22-2017
By: Chintan Karnani, Insignia Consultants

Gold Seeker Closing Report: Gold and Silver Gain With Stocks
By: Chris Mullen, Gold Seeker Report

 
Search

GoldSeek Web

 
Weak Markets, Strong Metals


 -- Published: Sunday, 7 February 2016 | Print  | Disqus 

By Warren Bevan

A very choppy week for markets and stocks until Friday when the downtrend resumed well.

          I tried several trades this past week and took mostly small losses, but we have two trades who are working very, very well and paying for those losses and much more.

          I usually have a pretty good win/loss ratio but not this week, but by keeping losses small, we’re still way ahead of the game.

          I don’t mind being wrong, but I do mind staying wrong, so I take small losses if they come, quickly.

          As for the metals, they moved nicely higher with silver kicking into gear and confirming this gold move higher.

 http://goldseek.com/news/2016/2-6wb/image002.gif

          Gold gained a nice 4.98% this past week as silver also moved up and confirmed this strength.

          Gold is now up against the $1,180 resistance level and should rest.

          I’d like to see a couple weeks of consolidation now which would form a handle and complete a large cup and handle pattern.

          If we do complete a cup and handle then that would change my view on gold and I’d say we have a major low now in place which we can move up from.

          Time will tell but for the first time since 2013, things may soon be positive and the dominant trend changed, back to up.

 http://goldseek.com/news/2016/2-6wb/image004.gif

Silver gained 5.44% this past week as it moved above the long base area very nicely.

          We’ve finally got gold and silver moving higher together.

          The $15.25 area is now resistance and we should look for some consolidation there before moving higher again to the next resistance area at $15.75.

          All in all, great action on solid volume which is very positive finally.

 http://goldseek.com/news/2016/2-6wb/image006.gif

          Platinum gained 4.74% this past week and finally has gold and silver on its side.

          Looks like clear sailing up to $940 now for platinum and then horizontal resistance and the 200 day average are at $980 and should slow things down for a few weeks.

          All in all, platinum is finally looking positive.

 http://goldseek.com/news/2016/2-6wb/image008.gif

          Palladium rose 0.93% but isn’t joining into the party quite yet.

          It looks like palladium really needs to move past the $525 level to get going, then we’ve got resistance at $525 where we can expect some consolidation.

          So, while markets are not looking so hot, metals area really perking up as the US dollar has seen some recent weakness.

          Generally the dollar and gold move in opposite directions and the dollar is showing weakness, but, it has moved back above the 200 day moving average so I’m not so sure the major uptrend has changed yet.

          For now, it’s good to be short stocks and long metals.

          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, 7 February 2016 | 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.