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

Will The Fed Sacrifice Retirement Portfolio Values For The "Common Good"?
By: Daniel R. Amerman, CFA

Here's How We Discovered This Disruptive Gold Stock... Before It Went Public
By: Frank Holmes

GoldSeek Radio Nugget: Rob Kirby and Chris Waltzek

Silver: Supported by D.C. and The Deep State
By: Gary Christenson

Blue Sky Uranium Reports over 1% U3O8 and 0.1% V205 in Pit Sampling Adjacent to Ivana Uranium-Vanadium Deposit
By: Blue Sky Uranium Corp.

Gold Oil and Commodities …Back to the Future?
By: Rambus

Investors And Analysts Know Nothing About Gold
By: Avi Gilburt

The New China and Gold
By: Arkadiusz Sieron

Pound Falls 2.5% Against Gold as UK Government in Turmoil Over Brexit
By: GoldCore

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


GoldSeek Web

Precious Metals Breakout While Stocks Continue To Consolidate

 -- Published: Sunday, 1 May 2016 | Print  | Disqus 

By Warren Bevan

Stock were choppy for much of the week with heavy hitting companies reporting poor numbers for the most part while a few did knock it out of the park but in the end they weren’t enough to hold up the markets which began to fall Friday.

          I’m not so sure how deep this correction/consolidation phase will go but we are in the midst of it.

          I’ve said the best action for markets to take right now is to consolidate and build up the steam to setup for a powerful breakout into new all-time highs.

          The metals turned up and now gold is breaking out higher nicely with more room to run.

          Gold gained 4.96% this past and is breaking out very nicely now.

          Great action from gold after testing the lower limits of the triangle pattern I showed here last weekend and now we’re off to the races.

          The next resistance area to look for in gold is above at $1,240 using the weekly chart, which is also showing a breakout now.

          All in all, it looks like clear sailing for gold with the dominant trend up now after over for year correcting.

          I’m more and more interested in miners once again but so many are extended and could use some rest.

          Their day in the sun is on the horizon once again though and the weak companies have been put to bed with only the strong surviving.

          Silver rose 5.05% for the week and is also breaking out higher towards the next resistance level I’ve talked about at $18.50.

          Great action from silver indeed and it continues to lead gold higher.

          Silver miners are also quite extended but will setup and give us a nice buy point in the weeks ahead

          It would have been great to nail the lows but when the dominant trend turns up it means the move will be sustainable for years so we’ve got lots of time and room to make a bundle off this new, or continued, depending how you look at it, bull market.

          Platinum gained 6.78% and is moving very well out of the U pattern it was showing after holding support at $1,000.

          Resistance above is now $1,080 as the new phase of strength begins.

          Palladium rose 3.15% this past week and is also breaking above the small U pattern well.

          Overhead resistance is now $685 on the weekly chart and we look good as long as silver and gold remain strong and I have no reason to see why they won’t.

          All in all, the great precious metals secular bull market has resumed after a few years off, and that is just how the markets go.

          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, 1 May 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 - 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.