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

Silver Miners’ Q3’17 Fundamentals
By: Adam Hamilton, CPA

Deflation must be embraced
By: Alasdair Macleod

Gold’s 47-Year Bull Market
By: Steven Saville

The Precious Metals Bears' Fear of Fridays
By: Dimitri Speck

The Lemmings are Heading Towards the Cliff...Again
By: Gary Savage

28 Reasons to Buy Physical Gold
By: BullionStar

Is This Gold Rally The Start Of Something Big?
By: Avi Gilburt

GoldSeek Radio Nugget: Peter Grandich and Chris Waltzek
By: radio.GoldSeek.com

GoldSeek Radio Nugget: Andy Schectman and Chris Waltzek
By: radio.GoldSeek.com

Keeping Your Cryptos Safe From Crooks
By: Avi Gilburt with Ryan Wilday

 
Search

GoldSeek Web

 
Still Choppy Markets And Metals


 -- Published: Sunday, 23 October 2016 | Print  | Disqus 

By Warren Bevan

Stocks are exhibiting more choppy and weaker action these days as we move back into earnings season.

          This saw me exit stocks and I’m in an all cash position once again with not much on the horizon for a couple weeks from what the charts are telling me.

          That said, I may grab a few quick short-term short trades if they come to me, but otherwise, I’ll be waiting for setups to complete in a couple or few weeks.

          The metals remain holding around major support areas with the exception of platinum who continued to drop.

          The 200 day average area remains a major buy point in up-trending markets where buying dips can work out very well over the course of the bull move.

          Gold and silver remains very near these historic buy levels.

 http://goldseek.com/news/2016/10-22wb/image002.gif

          Gold gained 0.29% for the week as we remain at the 200 day moving average major support area.

          As long as we can hold above $1,250 then gold should be fine and this drop to the 200 day average will have been our first, best, chance to buy the dip since this new uptrend began earlier in the spring.

 http://goldseek.com/news/2016/10-22wb/image004.gif

          Silver was pretty well flat gaining just 0.35% this past week.

          Silver is holding above the 200 day average much better than gold and looks ready to turn back higher anytime now.

          I’d look at the $17.70 are as a buy level with $19 the first major resistance stop to look out for.

 http://goldseek.com/news/2016/10-22wb/image006.gif

          Platinum fell 2.40% but should soon turn up if gold and silver do.

          Platinum has to regain the $960 level before I’d consider it a buy.

          We are likely to see small V or U pattern setup with $960 begin the buy level.

 http://goldseek.com/news/2016/10-22wb/image008.gif

          Palladium dropped 2.86% this past week but is now looking to turn back up.

          Thursday and Friday saw a 2 day bottom bar combination that should turn the chart back up now.

          It’s nice to see palladium move back up Friday to close above the 100 day moving average.

          All in all, metals should turn back up shortly while stocks in general need a little time to set up new bases and buy points.

          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, 23 October 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.