Should silver price in retail demand or economic sentiment? Silver prices have rallied hard since the beginning of October, up almost 10.5 percent since the October 2 low. However, traders are now budded up against key technical resistance. Will traders’ sentiment reject silver’s upward momentum, as it has done seven times since 2013, or will demand spark higher...
For last couple of months, Gold has been providing opportunities for both bulls and bears. As we pointed out in our previous posts, Gold has been mustering courage and getting help from Fed to re-test the resistance levels near 1200. Now since it has failed 50 WMA (Weekly Moving Average) and coming down, what's the trade? We would like to trade Gold according to...
Another FOMC day and another time for gold to set its compass right. Good that we still haven't closed our tiny short yet ( please look at the linked previous post for more info). Since nothing has changed substantially, we are putting the same chart again with resistance lines little extended to the right ! Levels to look for short opportunity are 1200, 1220 and...
Too many cross currents have made the picture for gold trading muddied. Couple of weeks ago we argued for taking the short position during the bounce towards the resistance levels of 1220 and 1240. We have taken profits on 2/3 of the position and bringing the stop for the rest to 1235. Reason is, we are losing the time symmetry on the head and shoulder pattern on...
Now Fed is data dependent means Gold is also data dependent. Dovish ( or noncommittal !! ) Fed has brought some life back into the Gold. It was obvious that 'clarity' on rate rise would have sent gold tumbling towards 1100 or even lower and any timidity on Fed's part would make gold running towards 1200. From data perspective, we know or at least based on past we...