News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
RUSSIA AMASSING TROOPS ON UKRAINIAN BORDER after UKRAINE VOWS TO TAKE CRIMEA
RUSSIA AMASSING TROOPS ON UKRAINIAN BORDER after UKRAINE VOWS TO TAKE CRIMEA
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Commodity Update

Gold Sleeps - While Wheat Soars

December 14, 2020 - (Gold Market Wire) - Gold continues to meander, without direction, while the focus of global commodity markets turns to the Agricultural sector. For months we have been opining on this blog that Agriculture is about to undergo a major bull market of the kind one finds once every 50 years. A simple look at the wheat chart reveals just how strong the market was last week, with a near vertical uptrend turned from a test of the lows. THIS is what a furiously strong market looks like, and investors should be strapped in for the long term. Core positions need to be built on pullbacks.

a power uptrend in full flow

Now we are not suggesting that one go 'all-in' on wheat - but merely that pullbacks should be used as an investment opportunity.

And again, much to the chagrin of the chattering classes - wheat's move has been technically perfect, as evidenced below.

is $565 our new floor for wheat?

In markets you have to move to where the action is. In the days of the floor you could always tell, because when take-over fever hit a stock, the size of the crowd exploded. The number of floor traders piling in to make money was easy to see. You'd look at the floor and see where people were gathering, and the crowd could lead you to money. That's not so easy today. So you have to comb the markets, finding action. Right now that action is agriculture - and it's going to be that way for some time. There is nothing noble in watching paint dry in markets that do little. Yes, Gold will be back. It could be next week - it could be after the Georgia elections - it could come anytime. But right now, Gold is having a snooze. The worst thing a trader can do is to try and find action where there isn't any. You make poor decisions, and you get churned. Ask yourself:

major paint drying session between the arrows.

Have a good trading week... a seek out the markets that are worthy of your time!

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