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
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

Silver Market Update

Silver Settles Down

April 19, 2021 - (Gold Market Wire) - Silver's power uptrend has been negated this morning, but the main inside trend line remains in tact (barely). We are now approaching the question as to whether we have moved to fast to the upside, and need to back and fill. We look to the maintenance of the main trend to guide us.

...main trend holding...power trend negated.

We note in this context that the 50-day moving average really hasn't been bettered, but our main trend, which we fell under this morning, has been recovered. Zooming in for a closer look:

charts as above...zoomed in.

Right now, we note that there appears to be a cooling off period with regards to the international stand-off over Ukraine. Two US warships, heading for the Black Sea, have evidently cancelled their decision to enter the area. That will bring tensions down for a while, although the underlying problem is going nowhere.

In purely market terms, we can see that the market needs a period of consolidation. The simple stochastic is high and needs to be worked off. The question is, can we do that without a major retracement. We could dip and then move higher, but a move down to the breakout line at $25.50 is certainly not out of the question. The move under the power line, per our discipline, means that 1/3 of the length we had should be cut.

a steep stochastic
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