GOLD TRADE ALERT (2:15 pm EST)
It is looking like a good time to start shorting the precious metals. Technical and cycle analysis continues to be strongly bearish (short-term) and we are getting our expected bounce this week as prices are rallying into areas of some resistance. There is resistance for gold at $1250 -$1275 and for silver at $20 -$21 so these areas can serve as general stop loss zones for short selling (we don't want to see weekly closes above these prices). I am going to short sell gold today and wait until early tomorrow to short sell silver as silver looks a little more bullish than gold at the moment and may rise a bit more. Going short with gold today and still on the sidelines of silver (may sell short tomorrow).
It is looking like a good time to start shorting the precious metals. Technical and cycle analysis continues to be strongly bearish (short-term) and we are getting our expected bounce this week as prices are rallying into areas of some resistance. There is resistance for gold at $1250 -$1275 and for silver at $20 -$21 so these areas can serve as general stop loss zones for short selling (we don't want to see weekly closes above these prices). I am going to short sell gold today and wait until early tomorrow to short sell silver as silver looks a little more bullish than gold at the moment and may rise a bit more. Going short with gold today and still on the sidelines of silver (may sell short tomorrow).
RSS Feed