first majestic silver

Metals Continue To Setup For The Next Leg Lower

August 2, 2015

Markets found lows last week…and are moving back to the top of their ranges for now. However, the big question remains:  Can they breakout with heavy volume?

I still think we won’t see a major breakout until the Fall…but I’ve been wrong before.

As for the metals, gold found a low and is now trading in a range as it sets up for another leg lower, most likely to finally test the $1,000 level.

Gold lost just 0.31% over the past week but is setting up well for a move lower anytime now.

This tight range points to a move lower very soon. Therefore if we move back above $1,105, then we may widen this range and move back up to $1,140.

The trend remains solidly lower -- and even if we move up to test the breakdown level at $1,140, the dominant trend remains down. A break below $1,080 is the short level…but it has to hold below that the first day it breaks to hold the position.  Preferably, volume would be high on the breakdown.

The chart points to lower very soon…but I wouldn’t be surprised to see this consolidation last until the end of August.

Silver fell 0.34% this past week -- and is also pointing to a move lower sooner rather than later. $14.50 is the short level in silver -- but if it moves back above $15 then we should go up to test $15.50.

Platinum lost 0.58% this past week…and looks the same as gold and silver. $975 would be the short level here while a move above $1,000 should see $1,025 tested.

Palladium lost the most, falling 2.14% on the week…and is trying to breakdown now. Palladium is falling on increasing volume and seems to be leading the other metals lower. Only time will tell if this lead can last. In any case we should know Monday or Tuesday.

In general the metals are acting great as they approach their final fall.


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 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 and his email address is [email protected]

Gold is the world’s oldest and most known currency.
Top 5 Best Gold IRA Companies

Gold Eagle twitter                Like Gold Eagle on Facebook