IvanLabrie
Long

Commodities portfolio: Long XAGUSD - Bottomed at Brexit support

FX:XAGUSD   Silver / U.S. Dollar
462 11 20
It appears like we can rebuy precious metals next week, which makes a lot of sense considering China is coming back on line after a week of public holidays.
The support level held, where the rapid ascent that happened during the Brexit referendum took place, so I see this as a low risk opportunity to get long on a breakout of last session's high.
Risk a new daily low here.

Good luck!

Ivan Labrie.
Trade active
Trade closed manually: I don't like the action here I'm getting out and holding CEF longs for now.
Trade active: Moving back above resistance now.
Trade closed manually: The reaction to the current situation shows lack of interest in metals, I'm closing for a modest 0.22% profit in gold and silver.
Comment: Good I reentered right before the action started, I saved myself some cost in rollover.
Comment: And, yes, I was spot on about the turn here...hope my followers caught the trade.
Ending the month prediction?? 19.5 or 16.5...
Reply
IvanLabrie RJHumphries
19.5 more probable in the short term.
Reply
Ivan, Silver long is looking good so far :)
+1 Reply
Yes, seems like a good trade.
Let's see how it goes during the week.
Cheers.
+1 Reply
summer6 IvanLabrie
yeah, on the daily chart, there is a plenty of room for Silver going up. but how strong US dollar would be matters. ^_^

cheers!
+1 Reply
If central bank are buying, it's going on up...that's my read on it. We see some leveraging going on in the background now, with USDJPY's action, and equities, so I'm inclined to see gold going up as long as central banks extend asset purchases (like the SNB and China of course).
+1 Reply
summer6 IvanLabrie
hope silver would test $18

^_^ cheers
+2 Reply
Cool, so it seems this week is the good time to buy some silver bullion :-)
Thanks Ivan.
Reply
Yes, definitely!
Reply
Me like.
+1 Reply
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