Buy The Dips In Precious Metals
What a summer it has been. I’ve taken many weekends off and booked it out of town to enjoy it while it’s here.
Stocks ended the week on a strong note -- and are looking to move higher anytime now, while metals tested and held support areas and are now turning higher.
Mining stocks are really turning up quickly and should continue to be strong for a few years as we remain in the very early stages of this metals’ bull market.
Consequently Buy The Dips!
Gold gained only 0.06% this past week…but is starting to move higher nicely again. The wide box between $1,310 and $1,375 is still in play. Moreover, this pattern suggests higher prices into years end.
Metals tend to be strong in the last quarter, when they are in a bull market.
Silver gained 3.31% on the week -- and is also turning nicely higher. A move above the $19.50 level might be a buy point with $20…then $20.50 resistance to watch above.
Platinum lost 1.44% but held the 100-day moving average and is now turning up. After a massive move from $980 to $1,200 some retracement and rest is certainly due…which looks to be now over for platinum. I’d look at the $1,080 level as a buy point now.
Palladium fell 2.91% over the last week…but held the 50-day moving average and is now turning higher. The $680 level is now the buy area to watch.
In my free, nearly weekly newsletter I include many links and charts which cannot always be viewed through sites which publish my work. If you are having difficulties viewing them please sign up in the right margin for free at www.wizzentrading.com or send an email to firstname.lastname@example.org with “subscribe” as the subject and receive the newsletter directly in your inbox, links and all. If you would like to subscribe and see what my portfolio consists of please see here.
If you found this information useful, or informative please pass it on to your friends or family.
The free weekly newsletter “Wizzen Trading” does not purport to be a financial recommendation service, nor do we profess to be a professional advisement service. Any action taken as a result of reading “Wizzen Trading” is solely the responsibility of the reader. We recommend seeking professional financial advice and performing your own due diligence before acting on any information received through “Wizzen Trading.”