Commodity Trade Mantra

Posts Tagged ‘Double Bottom’

Gold And Silver Short Sellers Remain In Control

The decline in gold and silver does not appear to be over. The signs leading to what may be another temporary bottom were negative. A reaction rally can be expected, even next week. What will be critical to watch is how the rally develops because the probability is that the reaction rally will be temporary, even if price rallies back up.

Silver Prices About To Turn More Volatile … To The Upside

Silver is currently priced at about $16, down about 2/3 since its April 2011 high. A double bottom occurred in the past nine months. Silver prices are more likely to make a major move higher than crash to a lower low. Periods of low volatility as seen now, have always been followed by periods of high volatility. A few reasons that could propel silver prices much higher.

Has The S&P 500 Topped At Exactly The Same Price As Gold?

Interesting facts: Spot gold has topped at exactly same levels as S&P500 top to date, on a closing basis. When gold peaked at $1,895.00 in Sep 2011, S&P500 was at a major intermediate bottom at 1200. Spot gold made a double bottom below $1,200 in Dec 2013 while S&P500 hit all time highs at 1890.90 a week ago.

Citi: Is This The Breakout Week For Gold?

Citi’s FX Technicals group notes gold has traded above very strong resistance on the $1,350 to $1,362 range suggesting a test up to $1,434 and the next level at the 200-week moving average at $1,493. Gold is also getting close to the “golden cross” where the 50DMA will cross above the 200DMA.

Gold Price Prediction Based On Technical Analysis And China Demand

The average bull market in Gold lasted 434 days with gains of 94.89%. Projecting this historical average to the upcoming bull market, one might see gold top $2,315/oz by mid-2016. Nevertheless, the wild card China Factor may well fuel the price of gold in the next few years much above $2,315.

Citi's Silver (Lining) Playbook

Right now as we watch how this dynamic evolves, the charts suggest that Long Silver against the USD looks to be one of the best trades to have in your “playbook”

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