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

Market and Metals Move Into Bull Phases

 -- Published: Sunday, 20 March 2016 | Print  | Disqus 

By Warren Bevan

A solid week for markets as they rested well until the Federal Reserve released their statement, which kept rates the same and lowered their expectations of four rate hikes this year to two, and that’s even a stretch in my view, but I’ve been wrong before.

          All in all, stocks are acting great and we’re heavy into long positions and looking to hold as long as they’ll allow us, but it does look like the 2016 lows are in place and there is nowhere to go but up from here.

          The metals were choppy but held key levels and still look to be setting up for higher.

          I’ve had a lot of emails this week happy that I’m on the bull side once again, and others saying it doesn’t matter what I think, and I agree.

          I really did think we’d have a move under $1,000 in gold to really put the panic in the perma-bulls but we only got to the $1,060 area and put in a nice base there.

          The point being, it doesn’t matter what I think, nobody cares what I think, including myself.

          The only thing people care about is how I interpret the action and charts, and that is often right.

          I sometimes get myself into trouble with stocks by heeding my thinking instead of listening to the charts.

          The charts are right, not me, and I just read them and mostly follow them, but I am human and make silly mistakes based on my thoughts sometimes.

          Anyhow, the point is, listen to the charts, and right now they are telling me stocks and metals are heading higher.

          Gold rose just 0.39% for the week as it chops around.

          We tested and held the 21 day average which coincides with the $1,240 support area.

          A break above $1,280 remains the next buy level.

          Gold continues to look good but it won’t be, nor should we want it to be, a straight moonshot.

          Silver gained 2.03% for the week but couldn’t breakout in the end.

          I never like to see failed breakouts as we saw Friday in silver but a long as we remain above $15.20 we’re in good shape.

          We tested the 21 day average and $15.20 support level well this past week and $16 is the next buy level and if a breakout above there holds on a closing basis then we should be off to the races.

          Platinum rose just 0.95% this past week.

          Platinum held the important 200 day moving average as well as the 21 day average at the horizontal support level at $960.

          Now we’ve got a nice bull flag that points to a breakout higher above the $990 buy area in the week ahead.

          Great action for platinum who is following the gold and silver strength very well.

          Palladium gained 2.57%, winning the week in the precious metals arena.

          Palladium based very nicely just under the 200 day moving average and should have enough steam to power through that level at $600 anytime now.

          Super action that should take us to $675 before we see any real consolidation.

          All in all, stocks are working very well and metals are also showing nice steady and slow strength off major lows as we are now trending higher for the first time in years.

          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, 20 March 2016 | 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.