Metals Traders

Gold…has put in a potential bottom based off the qtrly charts by retesting 1180, our long time downside tgt.

Silver…has not done the same swing but today’s final puke by the Longs before year end has retested last qtr’s low of 18.68.

AUD/USD…has a potential ORH weekly pattern with sustained price action over 89.65. (89.15 Futures)

This is worth keeping on your radar for a possible low.

ABX & SLW show similar patterns.

I’ll let the price action dictate the trade. In other words I’m not leading off on a trade either way.

Below 1180 in the Gold it’s “hasta la vista” time.
Gold still needs closes over 1220 for any upside.

All these instruments are starting to align.
They will either all fail or hold.

This game will start to be played out Thursday into Friday.

131231_102048_CQG_IC_Chart_GCE_-_Gold_(Globex)_Quarterly

131231_102107_CQG_IC_Chart_GCE_-_Gold_(Globex)_Weekly_Continuation

131231_102252_CQG_IC_Chart_SIE_-_Silver_(Globex)_Quarterly

131231_102428_CQG_IC_Chart_S_SLW_-_Silver_Wheaton_Corp_Daily

131231_102507_CQG_IC_Chart_S_ABX_-_Amer_Barrick_Res_Corp_Daily

This entry was posted in Archive and tagged , , , , . Bookmark the permalink.