News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Gold Market Wire... Gold Market Wire...
Gold Market Wire... Gold Market Wire...
***
US CPI in January Rises .3%
US CPI in January Rises .3%
***
Head Of European Central Bank Calls for Bitcoin "Regulation"
Head Of European Central Bank Calls for Bitcoin "Regulation"
***
Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
***
*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
***
Subscribe to receive our monthly report
Market Info
Feature coming soon.
Thank you for your patience

Gold Market Wire

News, analysis and commentary for gold traders and investors

Silver Market Update

Indecisive Silver Tests Horizontal Support

February 17, 2021 - (Gold Market Wire) - Silver is sitting down on horizontal support at $27.00 and trying decide which way to move, as the market goes flat. The chart lays out the market, and the failed uptrend.

the plain importance of the $27.00 level in recent trade.

As we enter eight sessions of drifting between $27 and $28, we can safely assume that volatility is being crushed. The above chart is clear as to the attraction of the $27.00 level from above and below the market. We may yet find a catalyst in the US Dollar / Euro, which has turned around from the recent bout of Euro strength. No matter what the nay-sayers spout - the US Dollar is not collapsing, and doesn't look likely to anytime soon. The gaps at 1.21 and 1.20 have been exceeded. The Dollar has defended itself well.

our trend line

There is nothing Euro=positive about the above chart. We remain, fairly on our own, a Dollar bull - which the Goldbugs hate (which they really shouldn't). The retracement down for the Dollar was a fairly unconvincing affair; failing to close above 1.2150...which, in fact, became an intra-day double top. So we stay with what we've had for some time now: Short the Gold/Silver ratio and long the US Dollar. We see no reason to change that.

< Previous articleHome pageNext article >
<- Go Back