What Happens To Gold And Silver Next? Look Out Below?

Big day for silver. Right into the range some more and sitting on the far end of it.

Question for the week- is silver going to rip past this range and break above 16.17? Wait and watch. Clearly tho buyers are in control and if this sort of price action continues for silver it will be a matter of time before silver gets back into yearly highs. For now, as it stands, price action is constructive for silver.

Gold also sits at the upper end of the range. Again, the key number is to see if gold this weeks cracks 1287.80 If it does, we get higher prices in gold.

Here I repeat myself with the simple trading dictum- yearly highs result in more yearly highs and yearly lows result in more yearly lows. In this case, we are in an uptrend.

While this may or may not happen with gold this week, when we get into that 1287.80 area and break it, we will be making new yearly highs, further and constant confirmation that gold is in a solid uptrend.

Yup,

I think is time to change the title of your Post! Maybe to "Higher and higher!!"

An hour and 40 minutes until the market opens and silver is at $16.09!... Will it break $16.17 and hold?!

It's at 16.19 right now

Would you call this breaking $16, or flirting with $16?

It certainly feels like a bit of a battle at the current levels.

Silver broke 16.17, positive. However, since hitting that, it has slowed down. To me, no surprise. Why?

Simply put, silver has been on a tear with 4 days straight of buying, including the big move up yesterday. By the time it moved into the next breakout area, the buyers had already done a lot of buying and are tired.


Now that it broke the range, it will be interesting to see if we get another pull back down the bottom of the range again OR a sideways chop from a higher level in this rage. There is also a possibility of a pull back and then turning higher going over the HOD for today.

Silver is NOT in an uptrend.

Gold IS in an uptrend. I repeat again. Silver is NOT in an uptrend.

The price action in silver is constructive in terms of trying to break the downtrend. I dont believe ONCE I have said silver is an up trend.

So let me be clear, silver is lagging and is NOT in an uptrend. However, if it continues this sort of price action, building on levels and avoiding going lower from here as it has, it increases its chances of getting into an uptrend.

Slowly but surely, silver is gaining ground higher. Those of you who do not watch price action every single day and dont do this for a living, well I can certainly understand why you cant understand whats going on.

One has to understand and accept that things do not go straight up. When there are previous levels from the past, in as in YEARS, that silver must march back up through. It must travel back into its rise from years ago. Each level will have sellers and buyers.

You must also look at markets in the most simplistic form. If you do not look at markets in their simplest form, which is expressed in PRICE, you will forever be lost wondering what is going on.

I am always amazed how we as humans over complicate things. Yet the answer to our questions in markets, whether an asset is rising or falling and what trend it is in, whether it should be bought or sold, is right in front of our noses. That is price action.