Precious metals faced a challenging day following Donald Trump's U.S. presidential election victory. Despite that, gold and silver's bull market is still very much alive.
The people manipulating/controlling the PM market know that 100$ increments are watch by many people which is why they pierce those levels before allowing the market to move higher!
I also keep a core position of gold and silver that I plan to hold until they're expensive relative to stocks. I plan to scale out at certain levels to capture most of the move and we are no where near that point.
However, I did close all my gold and silver trades about a week before the top as the risk-reward was poor for the short-term.
I think the market doesn't understand yet how Trump being elected is bullish for gold and silver.
Seems like we're back at testing the 2550 level as a resitance today according to your indicator which is very interesting as a trend indicator! Great work
Well done writing for this report. I appreciate your efforts. I want to make some more long term purchases and I guess if we hit the trend line, that would be good timing.
Good report.
Thank you!
Fighting JP and king dolla is an exercise in futility! The real value is physical possession. End of story…
That's the conclusion I'm coming around to after seeing all of these morning slams.
Obvious. In collusion with industrial users to control input costs and props the dollar.
China on board. China solar. Then there is the London exchange. Hmmm! Nothing forthright going on there. 13 bloodlines.
No cognitive dissonance here. Uber manipulated. JP used to be investigated and fined. Not any more in the age of open and notorious …
Well said.
The people manipulating/controlling the PM market know that 100$ increments are watch by many people which is why they pierce those levels before allowing the market to move higher!
Yes - and many traders place their stop and limit orders there because they’re memorable, so that creates a wall there.
I also keep a core position of gold and silver that I plan to hold until they're expensive relative to stocks. I plan to scale out at certain levels to capture most of the move and we are no where near that point.
However, I did close all my gold and silver trades about a week before the top as the risk-reward was poor for the short-term.
I think the market doesn't understand yet how Trump being elected is bullish for gold and silver.
Seems like we're back at testing the 2550 level as a resitance today according to your indicator which is very interesting as a trend indicator! Great work
Well done writing for this report. I appreciate your efforts. I want to make some more long term purchases and I guess if we hit the trend line, that would be good timing.