Gold and silver at downside targets
Monday alert-At the time of writing this article/alert our full net short positions is well justified by the risk and reward perspective
we have already seen gold stocks outperforming on Friday,we already informed you that from our perspective this is the strong bullish confirmation we are keeping our eyes on for in to close our short position which we entered at 1348 or even open a long position.does that mean we are going to see gold prices higher shortly?
we are not sure at this point.it's true that we mentioned that we need to look at a bullish confirmation before we will close our current short position or even reverse it but there are some factors like the strength of this outperformance is not able to convince us to close our current short position at this point.
mining stocks and silver outperformed gold and the USDX signal has already been underperformed by gold.we already saw the manifestation of it-gold declined on Friday, that's a bearish sign, not a bullish one.
we saw gold moved a little bit higher with a very small volume, that's a clear indication of a little bit correction, not the end of a decline.
cyclical turning points of gold and mining stocks is due on this Wednesday and we are expecting gold at around 1250 USD or little bit higher than that based on the decline we are expecting on Wednesday,However if we unable to find such decline then it might be possible we close this current short position or even open a long one.
In terms of euro gold plunges to new June low on Friday after it has been reversed several weeks ago at its September 2017 high,
overall from our perspective gold is likely to plunge more before we will be able to see an actual reversal
Silver-The white metal closed this week at about 16.50 USD and at the time of writing this alert it's trading at about 16.30 USD, The recent upswing which we witnessed has been rather small and insignificant.we are keeping our short positions intact.
overall our short-term view on white and yellow metal is rather not very clear and as we wrote we are expecting a greater decline on Wednesday as a cyclical turning point is due on this day, if not we will close our current short position on the same day.
please note-Next analysis will be rather long and will be more focused on silver
we have already seen gold stocks outperforming on Friday,we already informed you that from our perspective this is the strong bullish confirmation we are keeping our eyes on for in to close our short position which we entered at 1348 or even open a long position.does that mean we are going to see gold prices higher shortly?
we are not sure at this point.it's true that we mentioned that we need to look at a bullish confirmation before we will close our current short position or even reverse it but there are some factors like the strength of this outperformance is not able to convince us to close our current short position at this point.
mining stocks and silver outperformed gold and the USDX signal has already been underperformed by gold.we already saw the manifestation of it-gold declined on Friday, that's a bearish sign, not a bullish one.
we saw gold moved a little bit higher with a very small volume, that's a clear indication of a little bit correction, not the end of a decline.
cyclical turning points of gold and mining stocks is due on this Wednesday and we are expecting gold at around 1250 USD or little bit higher than that based on the decline we are expecting on Wednesday,However if we unable to find such decline then it might be possible we close this current short position or even open a long one.
In terms of euro gold plunges to new June low on Friday after it has been reversed several weeks ago at its September 2017 high,
overall from our perspective gold is likely to plunge more before we will be able to see an actual reversal
Silver-The white metal closed this week at about 16.50 USD and at the time of writing this alert it's trading at about 16.30 USD, The recent upswing which we witnessed has been rather small and insignificant.we are keeping our short positions intact.
overall our short-term view on white and yellow metal is rather not very clear and as we wrote we are expecting a greater decline on Wednesday as a cyclical turning point is due on this day, if not we will close our current short position on the same day.
please note-Next analysis will be rather long and will be more focused on silver
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