![]() ![]() ![]() Having the flexibility to enter and exit the market quickly makes it essential for Precious Metals investors to have a futures trading account alongside their core Physical Precious Metals holdings. Therefore, we would use that correction to re-establish long term positions in the December contract. Any close below $1957.8 will shift trend traders to the sidelines, and they should wait for the next bull or bear trading signal. A break below 1965.9 will begin signaling a near-term failure, and our proprietary "trend neutralizer" level will fast approach $1957.8. A critical level we are watching is the March 21st downward spike low to 1965.9, now the first significant support. Without a continuation above $2050, traders should use any close below $2000 as the first warning sign that a correction could be brewing. You can see how Gold played out below, resulting in a $700 rise over the next 18 months.ĭespite a 1.5% decline on Friday, we remain cautiously optimistic as most technical indicators show the market correcting from "overbought territory," as seen through the slow stochastic indicator. ![]() Instead, they cut three times that year, with the first coming in July. At the Fed's last hike in the 2018 cycle on December 20th, when the S&P was -17%, the bank said it planned to hike two more times in 2019. The action by the Fed is completely parallel to 2018. Fed committee members continue reiterating that they "have more work to do," while Fed Funds futures are pricing in one more rate hike beyond the May meeting. If you receive our Precious Metals research daily, you would know we expect volatile to lower prices heading into the May 3rd Federal Reserve meeting. Jack had two opportunities to buy Gold and Silver this week, Wednesday and Friday. ![]()
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