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... Gold Market Wire... Gold Market Wire
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Silver Market Update

Silver and the Horizontal Support

September 2, 2020 - (Gold Market Wire) - Silver is retracing some of its recent gains, as the initial power uptrend line falls to backing and filling.

...yesterday's power uptrend and today's new trend line.

Importantly, we now bring the horizontal support/(previous) resistance lines into focus. These are the ones that can create buying points if we head lower.

So far, this is just basic backing and filling and we retain our trading length with a view towards the challenge at $30. Our entry point with Monday's gap is still in the money and we see no reason to take profit just yet. The Silver market remains strong and, if anything, we have been encouraged by the shallowness of the pullback last week.

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