first majestic silver

Strong Stock Markets…Weak Metals

November 29, 2015

great week for markets and leading stocks, which are set to breakout higher and finish off 2015 strongly.

There is easy money out there, just not in the metals which continue to be battered as we near the major support areas I’ve taken so much flak for talking about. However, I’ve been right…so the flak has diminished considerably.

I have no problem admitting when I’m wrong, unlike the trolls who hide on the internet.

We are still on track to see major support areas tested in 2015 for gold and silver -- and then we may slowly begin to see the dominant downtrend end.

Gold lost 1.91% and cracked the consolidation channel Friday, although it did so on low volume…so the conviction isn’t there yet.

We still look set to test the $1,000 level where major support sits that I’ve talked about for years now. We’re on track to put in a major low to close out 2015, which I’ve also talked about since at least the early spring.

Silver fell 0.53% but is holding the small consolidation channel, for now. Silver will either follow gold lower right away or the gold breakdown will be shown to be false and gold will move back into the consolidation channel. However, the dominant trend remains down and in all likelihood will continue until major lows at the $10 area are hit…and hold.

Platinum is also holding well but did lose 2.40% for the holiday shortened week. The trend remains down and that’s that. Platinum has formed a down sloping channel which we should see steepen and accelerate the move lower shortly.

Palladium lost 2.38% this past week but is still consolidating before most likely moving lower. This channel is holding well, even though palladium tried to break higher Friday.

False breakouts are signs of weakness in the best of times and doubly so in a well-established downtrend.

********

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

In my free, nearly weekly newsletter I include many links and charts which cannot always be viewed through sites which publish my work.  If you are having difficulties viewing them please sign up in the right margin for free at www.wizzentrading.com or send an email to [email protected] with “subscribe” as the subject and receive the newsletter directly in your inbox, links and all.  If you would like to subscribe and see what my portfolio consists of please see here.

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”.

Warren Bevan is a renowned trader who’s honed his craft over the years learning the styles and techniques of Jesse Livermore, William O’Neil and Dan Zanger and forming his own unique style. He focuses on making money and going hard when the right markets present themselves and during the rest of the time focuses on capital preservation.  He focuses on the leading fast moving stocks during the good times.  He is a proud Canadian, traveler, explorer, and consummate market geek who tells it as he sees it. Warren’s website is www.wizzentrading.com and his email address is [email protected]


The world’s gold supply increases by 2,600 tons per year versus the U.S. steel production of 11,000 tons per hour.
Top 5 Best Gold IRA Companies

Gold Eagle twitter                Like Gold Eagle on Facebook