Gold, silver resting before next big move
Monday saw a solid rally in gold, silver and platinum, all reached a small level of resistance. Based on the currenttrend and price action, they should reach their major resistance levels verysoon. We cannot assign a date but soon should be within the next week.
If/when the metals reach the next levelthe price action at that time will be important. Many are looking for anexplosion higher, others believe that Gold should never go down. All marketstell a story at certain levels a leave a map, it is up to you to read it.
For those who want a bull market andhigher prices to continue would hope that the next major resistance would slowthe pace of the rally. The most powerful moves come from markets that obey “therules of the road” and follow the phases. Consolidation at key levels usuallylead to much bigger moves in the prevailing trend.
In all markets price action determineswhat will happen in the next day, week or months. Keep the two strategiesseparate, the worst trade anyone can make is turning a trade into an investmenthoping for a way out. Traders must learn to take their losses and move on tothe next trade.
Patience, discipline, and moneymanagement always win the day. Let the map of the markets show you the way.
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