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 With Stocks
By: Chris Mullen, Gold Seeker Report

Ira Epstein's Metals Video 11 21 2017
By: Ira Epstein

Bitcoin, Bail Ins And Bullion
By: Mike Maloney

Tactics For The Gold Bull Era
By: Stewart Thomson

Dow Peaking? The Quick Guide to Diversifying Your Stock Profits
By: Jeff Clark

What History Says for Gold Stocks in 2018-2019
By: Jordan Roy-Byrne CMT, MFTA

Jack Chan's Weekly Precious Metals Market Update
By: Jack Chan

Synchronized Global Growth May Have Arrived
By: Frank Holmes

Gold Versus Bitcoin: The Pro-Gold Argument Takes Shape
By: GoldCore

Asian Metals Market Update: November-21-2017
By: Chintan Karnani, Insignia Consultants

 
Search

GoldSeek Web

 
Great Gold Action While Stocks Flounder


 -- Published: Sunday, 8 May 2016 | Print  | Disqus 

By Warren Bevan

Stocks continue to hold up but aren’t acting strong by any-means.

          I remain in an all cash position as we may still be setting up for a try into new all-time highs in the S&P, but at the same time, we may see some volume come in to push us lower in the week ahead, which would force my hand into some short trades.

          The metals, mainly gold, were strong and continue to act great as the trend higher becomes more and more solid, but it’s still in the very early stages.

          Let’s take a look at the charts who are trending nicely higher.

 http://goldseek.com/news/2016/5-7wb/image002.gif

          Gold just gained 0.40% this past week but it held key support and setup a nice pattern to now move higher out of.

          Great action for gold as it tested the key $1,280 breakout level and is now set to break above the bull flag.

          Gold is acting great and dips can be bought as this newly changed dominant trend to up is now in full force.

          This new leg of strength should last at least 3 years, so I’d consider this a long-term trade.

          Gold has heavier resistance overhead at the $1,310 then $1,420 in time.

 http://goldseek.com/news/2016/5-7wb/image004.gif

          Silver lost 2.15% for the week and is looking a bit weak here with a 2 day top early in the week but $17 is a decent support area still so I’m not looking for much more downside.

          $18.50 has been a target on the upside now for weeks and we are nearly there.

          The bull market has resumed and looks great for the next few years with new highs above the $50 area all but certain.

          I’d look at buying dips and holding until we see another blowoff type of spike top such as we saw back in 2010.

          After $18.50 we have to look up to $22, then $26 as major resistance areas but they will take some time to hit.

 http://goldseek.com/news/2016/5-7wb/image006.gif

          Platinum gained 0.26% this past week as it continues to move higher with small consolidation periods along the way.

          This $1,080 area is resistance on the weekly charts so a little more consolidation around here would be fine and then once we breakout above $1,080 we have to look to $1,180 as the next resistance level on the weekly chart.

 http://goldseek.com/news/2016/5-7wb/image008.gif

Palladium lost 2.35% this past week and may rest a bit more before continuing higher.

          We may see palladium retrace back to $570 but the trend is nicely up now.

          $580 is also nice support when I look at the weekly chart so more consolidation around here would be positive.

          Also, on the weekly chart we have to look way up to $685 as the next resistance level to target, in time.

          All in all, not a bad week for the metals while stocks are acting weaker but still not breaking lower with much force.

          It’s a nice time to be in cash, as I am, and also a good time to begin to buy the metals using weakness.

          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, 8 May 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.