|
|
Choppy markets make for choppy results,base metals, precious metals and energy markets moved in a positive direction for gold and silver. These markets are all correlated and affected by the U.S. Dollar, USA bonds and notes.
Three ideas are of vital importance to find the way out of trading wilderness: (1) Use long range charts. (2) Use fundamental market information. (3) Work from the longer technical view of weekly and monthly price activity. Daily reports and charts are filled with misdirection. The daily news is spun from the anti-gold crowd deliberately. Ignore the news and watch closing prices and fundamentals.
Recent moves to suppress gold and silver while propping the dollar and general stock markets have worked splendidly for those instigating these moves. However, for now, the worst seems to be over and more importantly, visible chart patterns show strong basing support for precious metals forecasts. It is possible sellers could take one more whack at metals but it is believed that this is over at least until the next rally cycle.
Gold had a recent chart double bottom and momentum is turning sideways and up after being oversold. It has now been reported the central banks’ purported gold dumping was a nothing event. They sold little as they know much more value is just ahead in this market.
Silver prices have recovered with a chart double bottom showing even more strength than gold. Price is not above the 200 day average but is closing in on the 50 day average.
Momentum has turned up and patterns are predicting a quicker recovery for silver than gold. This is typical as silver is a much smaller market and is prone to faster trading moves. Both metals are showing bullish chart trends. |
|
IP卡
狗仔卡
發表於 2006-10-1 22:30:59
提升卡
置頂卡
沉默卡
喧囂卡
變色卡
顯身卡
樓主
發表於 2006-10-2 01:23:48
