Commodity Trade Mantra
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Posts Tagged ‘Bullish Trend’

A Bullish Breakout for Silver Prices more Probable than Rally Reversal

Interestingly, silver prices look stronger than gold at this point. The silver bullish traders continued to boost their bullish net positions in silver futures & want to see a strong breakout above $19. Seasonality in silver prices could play an important role in the weeks to come. The coming weeks will be extremely interesting and also important for the silver market.

Gold Prices Are Attempting to Carve Out Higher-Low Support

We’ve seen multiple instances of buyers coming in to further support gold prices above the fresh near-term low on Thursday of last week at $1,320 level, producing a series of short-term higher-lows on the 4-hour chart. Traders looking to treat the Gold setup aggressively could look at this attempt to carve-out higher-low support as a potential top-side entry.

Gold and Gold Stocks Ahead of the August Payrolls Report

A more likely explanation, at least for this week’s action in gold and gold stocks, is anticipation of the August payrolls report on Friday, given that the payrolls report is considered to weigh heavily in the Fed’s decision making.

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