In the gold, you're still stuck in the $2040 area. The gold-silver ratio is now flipping in favor of silver.
We take a look at the gold market, you are still over the 18-week average, so the bias is still on the upside. When we look at the action right here, it doesn't get much more neutral than this.
You had a huge decline. You washed out further. You've come back near about half of that probably 40% bounce or so and that's about where you're stuck. The trend is up, you do have higher lows and higher highs.
The 18-day average is right where you're fighting. How often do you hear me tell you that's the line in the sand and from there, markets make decisions as to what they want to do?
About the author
LINN & Associates
Over the past 35-years Ira Epstein has developed a reputation for providing clients with easy to use technology and teaching good old fashioned trading know-how. A number of our brokers have over 30-years trading experience. No matter how technology changes the methods of entering orders, there's no replacement for having "been there and done that before". It's the blend of services that brings things together.
Be it education, market information or trading platforms, we provide solutions.
Ira began in the futures markets in 1969. Over the years he worked his way up, starting from the ground up as a "floor runner" culminating with his becoming a Floor Trader. In the mid 1970s Ira decided to make a career shift within the industry to develop both retail and commercial based clientele. His customer base grew to the point whereby in 1984 he founded "Ira Epstein & Company", a trading firm specializing in retail, commercial and self-directed discount futures trading. Along the way Ira became a leader in trading technology out of necessity, due to increased small lot trade volume. He was among the first to embrace the Internet, which as you know has dramatically changed both the way information is delivered and how trading takes place today.
One of the ways Ira, along with his brokers showcase their talents is through e-mails of market information and Ira's "Futures Videos", which can be viewed on our website, through Market Center, Linn-IraChart Software and on YouTube.