News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
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US Bans American Banks from Purchasing Russian Sovereign Debt
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Gold Market Opening

Gold Tears Through Downtrend - Prepares to Take on 100-Day m.a.

April 22, 2021 - (Gold Market Wire) - Gold has gapped above our main downtrend and looks poised to take on the 100-day moving average. Right now, there is little to stop the continuing rally. The chart paints a highly bullish picture.

...the study that Bulls are made of.

We don't hold out much concern that the 100-day moving average is going to cause any real problems. Gold is charging properly now. Horizontal resistance of note doesn't come in until $1812, and above that, there is clear sailing for almost another $100. There is little that can be said, except that pull backs should be bought and profits should be ridden. We have very likely started the next phase of Gold's bull market, which will challenge the all-time highs. We'll take it one step at a time, but right now, things are highly positive. Zooming in with the power up-trend added gives us the following:

...the Power Up Trend (added)

Silver has taken out both the 50 and 100 day moving averages in a one/two knockout punch that ranks alongside Muhammed Ali's finishing off of George Forman. These are important markers, as evidenced by the updraft we got right after they were cleared.

...Silver Blitzes the Averages

So maybe now, at long last, we get to trade a proper bull market. That would make a pleasant change. These phases are where the real money is made, by employing a disciplined trading approach. The essence of that will mean buying pullbacks in phases and shedding (some) length on spikes. That is the trader's o.p. One should have a solid core position, and a side pocket for insurance held Gold. Call spreads will soon be the order of the day, for those familiar with the techniques employed. In time we will try and elaborate some of them here. (hint: get the LONG leg, i.e. closer-to-the-money, on FIRST.) For those who love gamma trading, you're about to get your big chance to do your thing.

It's not difficult to see why Gold and Silver are finally moving. The international security situation is deteriorating, the financial world looks ready for a crack up boom and the domestic situation in the USA is going from unrest to riot to civil conflict proper. It is hard to see the United States remaining as a coherent, unified entity over the intermediate-term. Disintegration is growing as a political reality. The country is divided in terms of politics, race, gender and just about any other metric one could imagine... all while Asia continues to power ahead. The Empire is over for America. It actually has been for some time, but only now is it becoming recognized by the general public. That recognition means confidence in the nation has been shredded, and that is what Gold will feed on.

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