Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers -- Ignore unavailable to you. Want to Upgrade?

To: Pianoman1997 who wrote (39189)	5/1/2007 11:41:32 AM
From: E. Charters	Respond to of 78419

---> 850-- Trading Precious Metals with Serenity. Gold and Silver’s Minor Selling Blips should not Worry Traders. Instead, Watch the Key pivot points for Support and Resistance. "Unless you are a dedicated screen trader watching the daily noise of bouncing metals prices can soon make you crazy interrupting your sleep and ruining indigestion. Instead of hanging on every little price blip, focus on fundamentals first, and then use basic, proven technical rules to contain risk and enable steady trading profits." –Traderrog This daily gold chart has several valuable indicators to help us through a trading sequence. Most important of all is our price remains above all moving averages and the fundamentals for precious metals have only gotten better. From October of 2006, we see three strong gold rallies with higher lows after each rally. Technical analysis shows strong support for gold at $675 and a minor topping resistance just under $700. Our old high last May should be considered strong resistance to price near $728. Further resistance appears (not on this chart) at $740, and $770. Momentum is range-bound (lower box) for 2007 but price is rising steadily. This divergence shows higher speculation with less than normal follow through. ********************************************