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

Hyperinflation in Zimbabwe – It’s back, but maybe not for long
By: JP Koning

Gold Versus Bitcoin: The Pro-Gold Argument Takes Shape
By: John Rubino

Gold's Interesting Day
By: Rick Ackerman

Asian Metals Market Update: November-20-2017
By: Chintan Karnani, Insignia Consultants

GoldSeek.com Radio: John Williams and Louis Navellier, and your host Chris Waltzek
By: radio.GoldSeek.com

Gold Market Update
By: Clive Maund

Technical Scoop - Weekend Update Nov 19
By: David Chapman

Zero Hedge invites Financial Times to heed GATA's urging on gold suppression
By: Chris Powell

The Great Retirement Con
By: Adam Taggart

Perspective on the Gold/Oil Ratio, Macro Fundamentals and a Gold Sector Bottom
By: Gary Tanashian

 
Search

GoldSeek Web

 
Gold Nearing A Major Breakout


 -- Published: Sunday, 4 June 2017 | Print  | Disqus 

By Warren Bevan

Quite the week for stocks as we continue to notch new highs after new highs.

          Get it while the getting is good.

          The metals also did great and gold is on the cusp of a big move.

          Everyday there is just so much political jargon it’s hard to ignore, but I do try my best.

          What matters to me most is the action in the charts and it continues to be great.

          Let’s just dive right into what matters and begin with a look at the weekly chart of gold.

 http://goldseek.com/news/2017/6-4wb/image002.gif

          Gold ended the week higher by only 0.95% but is acting great and very near a major breakout.

          This weekly chart shows a long downtrend line dating back to the summer of 2011.

          If we can break above the downtrend line, that is great news and should see the secular bull market resume in force.

          I like the long saucer base in gold and it’s only a matter of time until we resume a nice upward trend.

 http://goldseek.com/news/2017/6-4wb/image004.gif

          Silver gained 1.17% and looks to have begun its move to $18.50.

          Silver moved above the moving average cluster at $17.50 and only has the 200 day average to contend with now on its way to resistance up at $18.50.

          Looks good and we should see that move take place over the next two weeks at most.

 http://goldseek.com/news/2017/6-4wb/image006.gif

          Platinum was the sole loser in the precious metals space this past week losing 0.99%.

          Some wild action as platinum builds strength to move past the $970 level.

          It should be fine and moving higher anytime now on its way back to the $1,020 resistance level.

 http://goldseek.com/news/2017/6-4wb/image008.gif

          Palladium rose hard and fast and won the week, soaring 6.02%

          Last weekend I said palladium should quickly move up to $820 resistance and it did just that, very quickly, and kept going.

          I’ve got to look at the weekly chart to find resistance now and that comes in first at $865, then all-time highs up at $913.

          I’d not be surprised to see palladium move up to $1,000 by summers end before taking a longer rest to setup for a break above that venerable level.

          Have a wonderful weekend.

          Take advantage of the strength while it’s here, then take some time off in the sun once the trading action has mellowed, if it does indeed mellow this summer.

          Warren

          www.wizzentrading.com

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, 4 June 2017 | 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.