Gold and silver fight to hold support
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
The recent action in gold and silver has been the fight for support trying to reverse the trend. However, to this point, every attempt has failed. While we remain short gold and silver, we do recognize that trends last until they don't.
No matter what market you are trading, your objective is to trade with the path of least resistance. The trend in gold and silver is lower; however, the levels are narrowing. Support and resistance are coming closer together, indicating a much bigger move is coming. For now, we will assume that move will be lower because of the current trend.
There is always one thing to remember, be prepared, not surprised, which means, don't be stubborn and fight the trend. The metals as a group are mixed while Gold and Silver fight to hold Platinum has made new five-year highs.
Trading is meant to be directional and is based on the trends, with the ability to take the meat of moves. You can't buy bottoms or sell tops; all you are trying to do is capture the bulk of any action. Investors should hold long positions through all moves based on the history of year-over-year growth.
Here is the recording of Options Training Session 3 – The Next Step. We have also included a registration link for session 4 on Saturday Feb. 6 at noon est.