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Tradeciety
Jan 24, 2019 11:56 AM

Silver leading - will Gold follow? 

Silver FuturesCOMEX

Description

Silver showed a perfect breakout pattern this week and although the Gold chart showed the same characteristics, the price of Gold is, so far, able to withstand the sell-off.

However, it feels like the pressure on Gold is building and if the current 1278 level breaks, it could set up a sell-off as well.

Once again, do NOT trade such patterns based on feel but wait for the price to actually close outside of the breakout range. Otherwise you will get squeezed in a fakeout.

Comments
Michael_P
All metals are gonna go up allot this year look at platinum and copper and then look at emerging market pairs who correlate with those metals
kll
Isn't Gold already BROKE down from the sysmetrical triangle as shown in the chart ??
Tradeciety
@kll, Not until it has cleared the wicks and fully closed outside
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