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GOLD-SILVER

South Africa (EZA) a good Precious Metals playPrecious metals (PM) have really struggled this week, with the following weekly movement in USD: Gold TVC:GOLD -5.65% Silver TVC:SILVER -7.17% Platinum TVC:PLATINUM -7.2% Palladium TVC:PALLADIUM -8.23% All these PM’s seems to be heavily oversold over the shorter-term, which could see a bit of a recovery over the next week or two. Why is this important? Currently 24% of EZA consists of PM’s, which was the main reason for the recent pullback in the ETF. EZA finds itself at a strong support level and very close to EXTREME OVERSOLD levels according to its 14-day RSI. Should $48.50 not hold up, my stop loss would be at the 200-day Moving Average (EMA). This currently is $46.86. Should we see a bounce off the current levels, could see EZA test the 50-day EMA at 51.29 resistance, with a break and close above these levels, most probably bringing back new 12-month highs. I am somewhat worried about the negative recent momentum and will monitor closely
AMEX:EZALong
by SchalkLouw
2
Gold bulls' revenge will be sweetHi guys, Crazy week in the precious metals market and the FED crashed the whole market into oblivion. Luckily we were on the right side this time as a bearish correction was more than likely, however I did not expect a move below 1800. We closed the week a couple dollars below the 61.8 fibo support line at 1768, so this is concerning (it might just be a SL-hunt to confuse gold bulls), but technically this opens up the gates for further potential downside. Silver remains supported by the 61.8 fibo support level and the D200 SMA, so there is still a big possibility of a bullish comeback. Also indicators are highly oversold, so a correction is more than likely. Since the FED did not do anything but was 'talking to talk about tapering' and projected 2 'possible' interest hikes in 2023 (so 18 months from now, read again), Powell ridiculising his own dotplot during the press conference, I find this move highly over-exaggerated. In any case, bearish parabolic moves know parabolic bullish corrections (and vice-versa). From a technical & fundamental point of view, gold & silver are a 100% buying opportunity eyes shut with crazy upside potential. As mentioned in my previous update, the facts on the ground remain the same. The FED is still buying $120 billion worth of bonds EVERY month, the money printer is still going crazy and inflation is projected to hit 4% by many analysts in the near term. Not to mention US10 Yields have crashed below 1.5% post-FED. It's a fallacy to think this is transitory inflation, it's more likely here to stay for years to come. A big risk for the precious metals specifically and commodities in general is that inflation in the market can turn into deflation. Once central banks will stop the moneyprinter to fight the high inflation, there is shortage of money supply and prices crash at a very fast rate creating deflation. But we're still far from it, as the accomoditive monetary policy is still here. I am expecting a strong bullish reaction in the coming weeks, but it is important to time the entry. We have several risks luring, Basel 3 implimentation next week being the biggest one. An equity sell-off being the other, with DJI & SPY closing extremely bearish this week below the bullish trendline for the first time since March 2020. The Nasdaq closed the week as an evening star candle, which is a potential bearish reversal signal. Important to know is that strong equity sell-offs are bullish for gold & silver first (repositioning of money) but turns bearish later if the sell-off persists as investors flock to cash (March 2020 case). Price Action that I am looking at is bearish de-acceleration on the H4 timeframe and strong & engulfing bullish H4 candles. After such a huge move, we should see price range for a weeky or two (if not longer). It took the gold bears 2 weeks of ranging before they made the big move down. Bulls recapturing the 1800 handle on a daily timeframe is extremely important to regain the confidence and that would be a strong buy signal for me. For now I am keeping my eyes on the 1750-1755 zone as a potential platform for the rocket to 2000+. In case 1750 breaks, we are looking at the 3rd test of the bullish trendline and I expect price to break it this time towards the 1600-1610 demand zone. Below that we have the 1550-1555 zone as the next major support. A long read this time, but there is so much going on I couldn't make it shorter. 😁👌🏻 Love and hugs, Cesaro
OANDA:XAUUSD
by CesaroPelucci
6
Palladium Down 9%Palladium is currently taking a dive, and something similar is happening with Gold and Silver right now. The news is likely fueling this and the decline could be short-lived. In April of this year, price had broken out and created a new record high at $3017, hitting the $3000 round number. This psychological level of resistance created an obstacle for price and forced price down. This week, we see a strong bearish move with the next level of support based on this timeframe being the 50 simple moving average. Price has used this indicator as support several times in this stock’s history, so this is the obvious level that price may gravitate towards. Palladium has been making good progress since the 47% decline during the 2020 global pandemic, and this is just another bump in the road that price will need to navigate around. Patience for now as we wait to see how far price will drop and what price will decide to do once it finds support. See below for more information on our trading techniques. As always, keep it simple, keep it Sublime.
TVC:PALLADIUMLong
by Sublime_Trading
3
#Silver Will Quickly Surge To $50 By EOY:#Silver and #Gold will begin their next leg up in the near future. There's a possibility that this is that last time you'll be able to buy silver below $30 an Ounce! I'm making this more as a warning because FOMO sucks.. Metals may only go up and sideways during our lifetimes... Silver and Gold are used as conductive components for computer chips, and manufactures are constantly buying for production... Global Semiconductor Industry had massive year over year growth (11%) and this will continue to creates further demand for these metals potentially causing prices to rocket, amongst many other reasons.. DYOR, NFA , Comment Below With Any Questions About This Idea, Follow For More!
TVC:SILVERLong
by contemplatingcrypto
Gold, metals and oil are definitely back and looking very strongGold was falling as real yields were going up, but now that that trend has reversed gold is looking better. Gold has successfully broken and retested many key levels + several important moving averages and pivots. In the past I thought 1680 would break even just in the short term and it is still a possibility, but looks less likely at the moment. Currently Gold is at a bit of resistance and could pull back a little bit. The key level is 1980 where it could have a major trap and then a decent correction before going higher. Yes there are some issue with gold too, especially as it is still below its 2011 ATH, but once it starts closing above it again things could change rapidly. Metals overall seem really strong, with Silver gearing for a big breakout although there is still a chance of failure at the resistance above. Palladium still going hard and seems relentless. Copper at its 2011 ATHs still looking decent although it might pullback a little bit. Oil although not a metal, is very important and it also looks extremely explosive. The upside for oil at this point almost seems unlimited. The bear market for oil ended with that insane capitulation where prices went negative on the front month contract. For many reasons the production of oil has taken a big hit and now that demand is coming back, and coming back strong especially due to money printing. So from here Oil could easily hit 100$/barrel by EOY. Point is that inflation is rising, commodities are rising and will potentially keep on rising mostly due to supply shortages, but also due to excess speculation and money printing. Gold might not be the best bet in this situation, but it is definitely an asset to own as insurance. Maybe the downturn in cryptocurrencies also had to do with people switching back to Gold and other assets. Maybe Gold is a signal that something bad is coming and that thing might be high inflation or even bad deflation that could bring issues to the system. Either way dips are for buying in these assets.
FX_IDC:XAUUSD
by BitcoinMacro
New Custom Precious Metals vs. CryptocurrenciesThis is my new favorite custom PMs vs cryptos chart method. It adds together gold and silver multiplying the latter by the gold:silver ratio so they are on equal terms, and similarly with bitcoin and etherium, with eth multiplied by the current btc to eth ratio. The chart is looking to complete a cup-and-handle formation, which would be bullish for precious metals over crypto in the short-term. Looks like cryptos could very well win out in the long-term. A prudent trading strategy would be having the ability to trade between them quickly, easily, and with the ability to set market orders. In order to trade btc, eth, with allocated physical au (gold) and ag (silver), along with the fiats usd, eur, gpb, ALL ON THE SAME PLATFORM I use Kinesis: kms.kinesis.money Happy trading! This is not financial advice.
TVC:GOLDLong
by greenvention