Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Re: Trades: Thoughts on Gold/Silver/Andrew *PIC*

And here is the Gold chart with Silver overlaid in Lt.Blue. Note the Gold chart has retraced a Fib 61.8% retracement of the Sept to Dec selloff. Plus note price has rallied back to the early Dec high of $1767. Both are resistance levels. Doesn't mean price can't blow through resistance as it ultimately does at some point. But it isn't the place to get long either. I wouldn't get long Gold now until I did see a pullback. And if a pullback doesn't happen I don't really care as some other market will. You don't have to chase after these markets. Always something out there to trade. Note the negative divergence on the CCI 20 on the recent highs in Gold. While price can have higher highs with a falling oscillator it is a warning of a pullback in the near future regardless as it is losing upside momentum. Silver has outperformed Gold a little but is not acting as strong as it usually does on a precious metals rally.