News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
**** Gold Market Wire ****
**** Gold Market Wire ****
***
France Recalls Its Ambassadors from USA and Australia...Calls Their Behavior "Unacceptable" over Scuttled Submarine Deal...Calls Australian Behavior "A Stab in the Back"
France Recalls Its Ambassadors from USA and Australia...Calls Their Behavior "Unacceptable" over Scuttled Submarine Deal...Calls Australian Behavior "A Stab in the Back"
***
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 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

Silver Springs Back to Life

July 29, 2021 - (Gold Market Wire) -  Silver has made a jump off of the trend line we identified yesterday, and it is an impressive one - a true gap higher. The power downtrend has been bettered and the reversal of fortunes is pronounced.

...the bounce off the trend line

Overall its good news for the metals. Gold's defense of the $1800 level looks like it could be an omen of good things to come, but tomorrow is the last day of the week and the month, and so we wait for the close. Is it a mammoth head-fake - or are institutions loading up before the end of month? That's no more than a 50-50 guess.

On the side of caution our chart shows us that while the Power Downtrend has been broken, we are still in the downtrending channel, as the chart shows. In short, it's too early to claim 'victory', even though things are looking up. We note, as we did yesterday, that the long awaited equities sell-off is still not happening. We are starting to question whether or not it actually will, although, seasonally, we are heading into the stock market crash period of August/September/October.

The power downtrend was too steep to hold for very long, and it's no surprise that buying is coming in now. But we still want to see the down channel give way. That will be the Bulls task for today and tomorrow, and discipline means we must wait for that challenge to be met, before we can think about establishing length.

< Previous articleHome pageNext article >
<- Go Back