Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in
In the same category

Wait

IMG Auteur
Published : July 02nd, 2017
276 words - Reading time : 0 - 1 minutes
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...
Category : Technical Analysis

By Warren Bevan

Some more of the same choppy, confusing action from many stocks with the S&P and Russell 2k holding up well, but the Nasdaq is struggling on the backs of the leading large stocks/FAANG, since they are so heavily weighted within the Nasdaq index.

The metals still can’t get anything going at all so remain an avoid.

Keep it simple, and be patient waiting for easy setups who look to bea week or two away now.

 24hGold - Wait

Gold lost 1.12% and has a head and shoulders pattern which points lower right away.

The target area of this head and shoulders is the major pivot level back at $1,180.

Nothing hot at all on this chart so patience while a low develops.

 24hGold - Wait

Silver tried to turn the metals higher but failed and closed the week about even, down just 0.12%.

Silver looks to be trying to break this ascending channel which would point to a move back to test support at $15.60.

The attempt to move and hold above the 21 day average didn’t last long which says the bears are in charge for the moment.

 24hGold - Wait

Platinum slid 0.32% and isn’t doing anything for the moment.

A move under $920 says weakness while a move above $930 says strength.

Weakness is my guess.

 24hGold - Wait

Palladium fell 2.33% and weakness has finally overtaken its recent strength in the face of faltering gold and silver.

$820 looks to be next, then $800 is likely to at least be tested.

So, to sum up, nothing special at all in terms of stocks, market, or metals so take a break!

Have a lovely Canada Day and superb July 4th next week.

Data and Statistics for these countries : Canada | Georgia | All
Gold and Silver Prices for these countries : Canada | Georgia | All
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comment this article
>Follow all commentairies
You must be logged in to comment an article8000 characters max.
Log in or Sign up
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
Latest Comments
Meow
21 JulDoom1
>>For all his blunders and stumbles...<< To be fair, all presidents blunder and stumble like this. This is just the first in a long while ...
The Gold Industry is in a Deep State of Dysfunction, Delusion and D...
21 Julkevthorne
Just hold on to it - you will win. A cautionary tale: I wish, back in the early 90's, when I took out a pension - it was "cast iron, copper...
The Gold Industry is in a Deep State of Dysfunction, Delusion and D...
20 JulDRGEORGE
Yep, hard to argue with any of that. But this poor, disillusioned, confused, swindled, isolated, powerless, 'smart'(HUH) precious metal owner has n...
This Feels Like the Action in 2008 Right Before the Collapse - Dave...
18 JulThe Recusant
Will we witness a battle-royale between the CBs and traders shortly?
Guess What Happens In States Where Food Stamp Recipients Have To Work
18 JulThe Recusant1
As a left-leaning independent, community service seems like a great idea as a prerequisite for food stamps for single childless recipients. But, as...
Watch: Trump Was Hammering CNN In 1990 For Fake News: “When People ...
18 JulThe Recusant
Yes, there is sensationalism in today's news media. On a sliding scale, however, the news media is far more honest than ANYTHING the Trump administ...
Guess What Happens In States Where Food Stamp Recipients Have To Work
18 Julkevthorne2
Then, how about making the banksters do some real, productive work in return for the taxpayer funded bailouts they received - like rebuilding worn-...
Holy Hell
17 Julaccording
good one. where have you been hiding?
Most commented articlesFavoritesMore...
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS