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Amazing Action

A cracker of a week to let our stock positions consolidate and now they have resumed their upwards trajectories.

Precious metals are also doing very, very well along with miners.

There really isn’t a lot to say with everything acting very orderly this past week and looking to continue that trend.

Gold gained 1.67% this past week and is setup to continue its move higher anytime now.

Gold is setting up a nice bull flag with $1,370 a buy area out of this flag.

Silver continues to lead gold higher and gained 2.49% for the week.

Silver has a great bull flag that points to higher again anytime now as it moves to its next major resistance area at $28.

Platinum gained 3.60% as it now breaks the $1,100 resistance area.

Great action that really needs nothing more said about it.

The next resistance level to watch is $1,175.

Palladium gained 2.10% and is also acting great and trying to breakout higher again now.

A move above $620 can be bought as we move up to the next resistance level at $691.

All in all, stocks are acting much better than I’ve seen since late 2014 for now and precious metals have really done well after reversing their dominant trends to up.

Warren Bevan



Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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