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Gold & Silver in a LT rally


Mercury

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God and Silver remain in flux.  I can't trade it here.  Only a breakout of over head resistance is tradable long for me as another large leg down is still very much on the cards.  Plenty of other bett

Nothing much going on with Gold/Silver, the anticipated consolidation period continues.  The competing drivers of USD and Stocks/Bonds movements may be neutralising clear direction for now but in anyc

While Stocks and USD seem to be moving bearishly PMs are, intuitively, going bullish.  However unless we have just seem the definitive bull ending move on stocks (or perhaps despite this if it eventua

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I wouldn't short gold in these times. I think most would agree the long term trend is bullish. I can't see silver dropping back down to sub $20 and that is the next resistance levels if newer recent lows are continued. I got into a small long position in silver last Monday, have moved my stop to cost neutral and it's 200 points or so in the green now. That said I wouldn't be surprised if it tests that $22 price point again. Would reflect the same for Gold but I tend to trade silver as it always has more volatility to mess with.

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On 06/10/2020 at 11:16, BiGs said:

I wouldn't short gold in these times. I think most would agree the long term trend is bullish. I can't see silver dropping back down to sub $20 and that is the next resistance levels if newer recent lows are continued. I got into a small long position in silver last Monday, have moved my stop to cost neutral and it's 200 points or so in the green now. That said I wouldn't be surprised if it tests that $22 price point again. Would reflect the same for Gold but I tend to trade silver as it always has more volatility to mess with.

 

True.

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It's either the beginning of an up move (higher low to be confirmed with a higher high) or it's heading to $21.65 or lower.  Not tempted to trade it either direction at the moment myself.

 

Spot Silver_20201008_15.55.png

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