The daily chart shows a bullish break from the downtrend that began in early June at ~$1,300/oz.
Gold has strong support at ~$1,200/oz on the weekly chart - a level it has visited 3 times since breaking it as resistance in late January.
Look for a break of the channel between ~$1,200/oz and ~$1,300/oz for confirmation of a new trend.
Another silver stock that I really like and that I have already recommended in the past is Endeavour Silver Corp.. Although Endeavour had some issues in the last couple of months I continue to believe in Bradford Cook and his team. Endeavour was one of the best performing silver stocks in the first half 2016 and should offer massive leverage in a new silver bull...
It´s been the right thing to wait with any recommendation in the mining sector. But now I feel the time is right. As explained I believe silver has a great potential over the next 8-12 months. The best way to play a multi-months rally in silver are some of the best but currently beaten down silver mining stocks.
First Majestic Silver without a doubt is one of the...
$NAK is ready for a move on the upside. It touched key levels of support and bounced back up after hitting the trend line.
Entry point: 1.48
Exit point: 1.97, if that key level of resistance is broken, hold until the next level of resistance is touched.
Stop loss: If the price goes below 1.23, a trend reversal will be confirmed. Below that point, sell your...
Whether you subscribe to a mistaken sell order around gold or it portends to weakness ahead of the seasonality in late August, some of the glimmer associated to gold is beginning to wane in light of the craze around crypto-currencies making one wonder if the bugs may be eager to dabble in other markets that have much of the same vocabulary.
To read more or trade...
upward movement highly probable after a precious landing on the 61,8% retracement. 10 day mo-average went through the 50 day average and it is very likely that the 50 mo-av. will break the 200 mo-av. after a breakout through the triangle good prospects for 2017.
on balance I am expecting a (middle term) upward trend.
Previous gap was successfully closed but at the same time, several poor lows were created on the way up. Sellers might have some unfinished business at 164 GBp level and could continue opening short positions aggressively till 156 GBp level. In case of even small panic, we can expect retest of 149 GBp and 137 GBp levels.
A short term downtrend has been broken and there are several indications to buy. Volume has been increasing, MACD is showing it is about to cross, Stoch RSI is showing that the stock is not trading at an overbought level, and it is trading just above the 20 Day Moving Average which has been acting as a line of support/value for the past few months. Also with the...