The charts are once again showing some interesting developments.
Silver today formed a "hammer" candlestick after being pushed down to its 20 day MA. The RSI 2 indicator actually turned up today and closed just above oversold territory.
The silver market has been leading the gold market for a few months, and one wonders if we are seeing the early stages of a rebound.
Too early to tell at this time.
My focus has been on gold for months, even years.
The market has experienced a little sell off and perhaps wants to pull back a bit more.
I view this as an opportunity to re-buy at a lower price.
The miners have pulled back nicely and we will need to see a good signal before re-entering the market.
In the meantime, those hedges paid off nicely.
Sold both ERY and DUST for a tidy sum.
Lots of wild waves to ride in this market, both up and down.
Silver today formed a "hammer" candlestick after being pushed down to its 20 day MA. The RSI 2 indicator actually turned up today and closed just above oversold territory.
The silver market has been leading the gold market for a few months, and one wonders if we are seeing the early stages of a rebound.
Too early to tell at this time.
My focus has been on gold for months, even years.
The market has experienced a little sell off and perhaps wants to pull back a bit more.
I view this as an opportunity to re-buy at a lower price.
The miners have pulled back nicely and we will need to see a good signal before re-entering the market.
In the meantime, those hedges paid off nicely.
Sold both ERY and DUST for a tidy sum.
Lots of wild waves to ride in this market, both up and down.
No one ever scorns a man when it comes to taking profits. Nice grab friend.
ReplyDeleteCheers PW.
Thanks Bill.
ReplyDeleteWaiting for a clear signal to re-buy the metals.
It is an uncomfortable feeling to be short gold despite what the charts say.