Gold hit the daily upper Bollinger Band, technically resistance. More resistance above, but does not mean I am bearish.
Spot gold did not trade over $1905 for six hours and more yesterday, hence the selloff.
Silver has outperformed gold so far this year. The white metal has advanced nearly 40% so far this year and is on track for its biggest annual gain in 10 years.
Are we on the cusp of a runaway move? There is some evidence it is a distinct possibility. More and more the March 2020 pandemic collapse looks like October 1987. And if we are on the cusp of a runaway move..
For the almost decade that I have been writing publicly, I have implored you to recognize the importance of market sentiment in determining the direction and turning points in the market.
Difficult periods are typically followed by easy periods. We are in a period where it is really easy to make money. Video Update
Hot money or casino traders will come in only if gold price shows a sustained rise over $2000.
Positions as of Tuesday, December 15, 2020.
A closer look at silver stocks this week.
Gold at its 18-week moving average and hitting the upside Bollinger band. Year end rally is not unusual for Gold.