News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
GOLD MARKET WIRE...NEWS AND INFORMATION for GOLD TRADERS AND INVESTORS ....
***
US Bans American Banks from Purchasing Russian Sovereign Debt
US Bans American Banks from Purchasing Russian Sovereign Debt
***
*** GOLD MARKET WIRE ***
*** GOLD MARKET WIRE ***
***
Subscribe to receive our market report service:
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

Silver Maintains its Recent Strength

October 25, 2021 - (Gold Market Wire) - Silver has continued to show resiliance, both by holding above the channel breakout it closed above last week, and also by annulling the 'flame out' potential from the spike higher, which got sold on the close Friday. As we have said over the past few weeks - this is a trader's market. And no clearer signal is available than Friday's action:

30 minute chart of Friday's 'rip around the flagpole' game.

So, now we're into the real fun and games that the traders and locals like to play. Silliness, yes, but all part of a healthy bull market. At least you now have a clear picture of when New York closes its books and heads for the Hamptons. (After all, the water is still warm - even now.) This can be considered a valuable item for future reference. (don't wear your leverage into the Friday close - unless you can handle it!)

With the above in mind, we ignore the chart formation that should normally spell caution, because its timing was so obvious; and it didn't follow through. The games locals play in Silver will now take center stage - and we must read the runes properly.

settling in above the channel. fair weather sailing.

The market is consolidating at an elevated level. That's music to a bull's ear. The big picture, indeed, confirms a change of fortune

Now, even stodgy old Gold is getting in on the act and Friday finally saw the needed move above $1804: The first in almost two solid months. And so far, it looks, much like Silver, to be a first foray into a new environment - where higher prices rule.

"Gold looks Good." (indeed -it does)

And that's it from a positive looking Monday morning. The bullish sentiment and action is maintained. Length is held, could even be added to here. The market should have more upside. We remain encouraged by Crude Oil's quick recovery and strength. The market is setting a bullish tenor for the week... but don't forget about Friday's Follies.

< Previous articleHome pageNext article >
<- Go Back