first majestic silver

Gold And Silver Prices Buck Market Weakness

March 26, 2017

Markets continue to show weakness as we continue to move a bit lower during this likely 6 to 8 week consolidation period.

It’s all good and will keep this bull market strong and set for much more upside over the next couple of years or so.

The precious metals continue to act fine with more upside looking to be in the cards.

Gold took the leading role from silver and gained 1.49% this past week. Gold has a sweet little bull flag just under the 200-day moving average, which tells me we should move above said moving average shortly. Next resistance to watch is $1,306 or so.

Looking good to me!

Silver prices gained 1.92%, a bit more than gold. However, the chart is not as clean, Therefore, I’m saying gold is leading with its clean chart.

Silver is trying to move above this $17.75 resistance level with some resistance to be expected at the 200-day average just above $18 as silver makes its way to $18.50 most likely.

Platinum gained just 0.51% as it continues to build a nice little consolidation area to move up from. A move above the $975 area should quickly see $1,010 then $1,020.

We’ve seen it fail three times try to move past $1,020. Nonetheless, often the 4th time seems to be the charm.

Palladium was the big winner grabbing gains of 4.84% after breaking out Thursday. Solid action indeed on increasing volume. Consequently, I see $845 as resistance to keep an eye on and that is dating back to late 2010 on the monthly chart.

Superb action on this chart and from the metals which look to be one of the few sectors showing strength at the moment.

********

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]


Gold has been discovered on every continent on earth.
Top 5 Best Gold IRA Companies

Gold Eagle twitter                Like Gold Eagle on Facebook