News, analysis and commentary for gold traders and investors

"Be Right - Sit Tight"

Jesse Livermore
**** Gold Market Wire ****
**** Gold Market Wire ****
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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"
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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 ***
*** GOLD MARKET WIRE ***
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Gold Market Wire

News, analysis and commentary for gold traders and investors

Silver Market Update

Sketching Silver's Trend Line and Gold's Resistance

May 20, 2021 - (Gold Market Wire) - As Silver is consolidating its recent gains, we take the time to sketch out the trend line to see what the shape the advance is taking. Right now we seem to be in a consolidation stage, preparing to move higher. The trend line we are drawing has a good history and deserves our attention.

a trend-line that has been a pivot for bulls and bears alike

On March 22, we can see how this trend line indicated the break down very accurately. Then, the challenge to better it became a focus in mid-April and it took real power, on May 6, to get through, after which we rallied. Now we are retracing to see if it will hold. That challenge is being mirrored in Gold's position at present, where significant horizontal resistance is about to be challenged. This time around Gold may push us through.

....a break-out point developing?

That horizontal line in Gold takes us back to the start of the year, and frankly, is looking like a set-up to create a break out. Once we get through, it looks like $2,000 will be challenged in fairly short order. Right now, we look for Silver to hold and Gold to lead the way, by breaking through the horizontal line. These developments have the hallmarks of a bull market getting ready for the next move. The Precious Metals are strong. The aggressive can build length on the move up.

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