Metals can’t seem to get past yesterday’s highs but are trying. I lean bullish for a trade if we break the highs from yesterday but it’s not a clear up day for gold and silver at all so be quick with stops if it reverses.
$18.55 high for GDX yesterday, $18.44 now.
$12.98 high for NUGT yesterday, $12.86 now.
$4.40 high for JNUG yesterday, $4.37 now.
Gold $1,164.70 and Silver $15.64 for reference.
I didn’t mention UGAZ yesterday, but it fell then and is falling again today. A bounce higher might be caught with a trade so keep it on your radar. It’s at $15.21 now.
TZA should be on your radar too for a swing trade. It’s at $13.33 now and screenshot below was taken at 13.38. Should get a reversal soon. See one month chart below.
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About Doug EberhardtDoug Eberhardt is a 28 year financial services veteran and precious metals broker selling gold and silver at 1% over wholesale cost. Doug has written a book to help investors understand how gold and silver fit into a diversified portfolio, how to buy gold and silver, and what metals to buy. The book; “Buy Gold and Silver Safely” is available by clicking here Contact phone number for Buy Gold and Silver Safely is 888-604-6534
Disclosure:
Commodity Futures Trading Commission Futures and Options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don’t trade with capital you can’t afford to lose. This is neither a solicitation nor an offer to Purchase/Sell futures or options. No representation is being made that any account will or is likely to achieve gains or losses similar to those discussed in this outlook. The past track record of any trading system or methodology is not necessarily indicative of future results.
All trades, patterns, charts, systems, etc. discussed in this outlook and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author.