Gold, Silver Stall As Equities Rally Big

By Kitco News / October 17, 2018 / www.kitco.com / Article Link

Both gold and silver stalled onTuesday. Was it because the equities rallied big or was it because they wereboth at resistance? From a technical perspective, they were both at resistance.It's that simple.

The metals have had a nice runfrom the recent lows and it should be no surprise that a slight pause or someselling pressure would come in at these resistance levels. All markets do thesame thing on a regular basis as patterns repeat over and over again fromdifferent levels.

We look at this small sell-off asanother buying opportunity, expecting $1,220 in gold to be support and hold.Gold has broken out of the $1,180-$1,220 range and will now do battle aroundthe $1,240 level. Silver is fighting to breakout above $14.80-$15. We expectboth to breakout to the upside after consolidating at their current levels.

By Todd 'Bubba' Horwitz

Contributing tokitco.com

ContactBubba@bubbatrading.com www.bubbatrading.com/ 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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