News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
Gold Market Wire....News Analysis and Commentary for Gold Traders and Investors...Gold Market Wire
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US Month on Month Job Cuts by Employers Soar 54% in July
US Month on Month Job Cuts by Employers Soar 54% in July
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CME Raises Silver Margins by 12.5%
CME Raises Silver Margins by 12.5%
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United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
United States Imported a Record 126.6 tonnes of Gold from Switzerland in May
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First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
First Half 2020 Gold ETF Inflows Hit Record of $40 Billion
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Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
Fitch Ratings Calls 2020 "Record Year" for Sovereign Defaults
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Bank of Japan to Loan $1 Trillion into Economy
Bank of Japan to Loan $1 Trillion into Economy
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*** GOLD MARKET WIRE ***
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Silver Market Update

Silver's Power Uptrend Develops

June 1, 2020 - (Gold Market Wire) - New York is in (Switzerland is closed) and the market has settled down. Silver's rally is intact and consolidating its gains. So far, so good. Let's have a look at the developing power uptrend. If you've got some serious length on, this is going to be the trend to watch to tell you when to lighten up a bit.

the power trend set against the primary trend

Flying blind is never a good idea. The charts are our instruments and they can tell us where to go and what to do. Right now they are telling us that Silver is looking in a very good position for a serious move to the upside. But we still must respect the power trend line. The gap up is undeniable, and it would take some serious move to have it violated, although Silver loves to head fake.

For those conversant with options, its hard to imagine a better environment for call spreads. The 18.50/19.00; the 18.50/19.50; and the 19.00/20.00 should all be considered. Don't run them to expiry unless the market completely explodes. If you are ultra-bullish, get the nearer-the-money strike on first and hope for a rally to sell the wing. Call spreads are great, limited risk, ways to capture a market in a bullish posture - which we are.

Have a good trading day.

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