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

Hi yup, an analyst said that if gold closes above the 200 day moving average, which it looks to me like it did yesterday (the 19th), then that would be a good sign for the uptrend. Is that accurate, or would gold need to close above a shorter term moving average? Thanks!

Hi yup, what particular chart time frame do you prefer to use to spot trends?

yup, thank you for the informative response, it really helps me out trying to understand trends better.

pretty boring week for gold and silver. HOwever, never think because it was boring, that in turns nothing is happening. Indeed, time periods of chop and sideways action lead and give clues to the overall trend and next move of importance.

We saw last week gold try and pop higher out of its range, pull back and then settle at the upper end. From a technical view point in terms of price, gold looks much stronger than gold as it left the week at a point where it could build on last weeks push up.

Silver is pretty much just range bound, in its range. It started moving higher from the lower end of the range and as the end of the week rolled around, it lost steam.

I expect pretty much this type of price action for the coming weeks, months. We will continue to monitor how these ranges are broken to determine the health of this trend. Least you have forgotten or allowed yourself to lose sight, gold and silver remain in up trends.

At the sake of boring everyone, I am going to repeat myself. This is not a pretty up trend. However, these short term moves lower can happen in an uptrend, especially when an asset breaks a long term downtrend, that overhead supply is present for a while and the only that helps the trend is the element of time. I repeat- BREAKING A FOUR YEAR DOWN TREND WAS HUGE. The buyers did not come all this way to just walk away from silver and gold.

Finally, most assets, whether they be bonds, commodities, currencies, and stocks are all struggling to get any direction (the US markets have been stuck in ranges for a good 3 years now), most assets have been and are been sideways for a long time now. So dont let the long term sideways action distract you because the move will happen, whichever way it goes, when you least expect and turn your head away. The assets that are following a steady grind higher or lower are few.

This will end, in time. But thats just it, we need to let TIME work its magic.

Yes, nice price in a shorter time frame.

Sloppy chart longer term, but yes clear accumulation as evidenced by the volume on 3 days last week.

Thats why you have to always just keep looking, take everyday one day a time. Things are happening UNDERNEATH and most of it IS NOT going show up as front page financial news. I usually find gems in the market in these time periods when I dig deep in the stock scans. For the most part I have not been looking at the miners as that would limit my universe. I dont want to talk my book but look at charts like BPT, IDCC, IGT, CC NATH ARLP CLD SXC and so on... there is always something brewing underneath the surface in these time periods of sideways, range bound, choppy action. I highly encourage everyone who wants to just focus on gold and silver miners to make a stock screen at like finviz.com and just watch whats happening in all the miners.

You will notice, for whatever reason, a ton of upgrades been coming into that stock, I believe AG got upgraded that same day.

its also interesting to note that that stock made ALL TIME HIGHS back in September, in other words, there is ZERO over head supply in terms of price, there are no sellers at those levels because it broke above 18. That is a miner you want to watch going forward.

@YUP..can you make a Finviz chart for that(all miners), for free, or, do you have to have a paid subscription? I'd like to set one up tommorow, if possible...to get ready for the next weeks' activity.
Will go to their site, and poke around.
One of the few times I wished I had followed OTHER people's advice, was, awhile ago, someone said to take profits on AG..I blew it off as more noise.....and missed a large chunk of change in the process. I CAN'T go around doing things like this...yes, THAT time, I would have been spot on right....But, invarialbly, playing these buy-sell-buy--sell-buy back...games always is a loser for me..I have the best knack for selling..and, the next day...boom......I sold all my AG, in disgust. My Silvercrest is making up for that mistake, luckily.Now, hopefully MAG will grab the momentum bull by the horns...will have it in 2 accounts..1 for flipping, 1 for the long haul.

@ilikeikes

Yes, as AgCoin says, you must have a plan and stick to it. In trading, in markets, there is no second guessing yourself.

As I mentioned on my post on this thread from October 4th, when gold broke 1317, I closed out all my positions in miners and booked profits. I am content, I dont feel at all any remorse, and I have no stress as prices go lower, in fact I could really careless if silver and gold plunge even lower, I Am not involved in that part of the market and have moved on for now.

Now, some people would say "that was dumb, you could have sold out even sooner and walked away with more money'. But that is foolish talk spoken only by fools. Due to my experience and knowledge, being through thousands of trades and thousands of patterns, I know that I MUST give a trend a wide leash, I know I will NOT exactly grab the entire move, but I WILL walk away with very nice profits and I will WIN.

We cannot PREDICT the future. In markets, you cannot say " oh if I had held longer" or "I should have sold sooner". Because we dont know what happens into the future, we MUST have a plan, concrete in the mind.

I will tell you from experience, when I was still learning, I had trades go where IF I did not have a plan and let an asset run and allow price to guide me, I would have either LEFT thousands on the table by jumping too early OR allowed gains to be erased by selling too late.

Quickly and with a plan, I fine tuned a method that is perfect for me and my time frame. It fits my emotional make up, my monetary goals and I Am quite happy. Which brings me to another point- what works for me most likely will NOT work for someone else.

For me, I prefer to decide to trim/book profits on a trade based on market conditions, changing chart structure, price behavior and my experience in reading the tape, recognizing the same patterns that repeat thousands of times and are repeat in various scenarios I have faced.

When I end the trade, I feel satisfied that I followed my plan and I never have regrets. Furthermore, there is no time to think of the past, there are new opportunities opening up in markets constantly, not to mention that there is no rule that doesn't say you can re-enter miners again, as an example.


Ill make a template on Finviz showing the miners tomorrow.