1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Inside The Charts: Why Silver And Gold May Go Much Lower

Discussion in 'Technical Analysis' started by inthemoneystocks, Nov 19, 2013.

  1. inthemoneystocks

    inthemoneystocks New Member

    Joined:
    Mar 27, 2009
    Messages:
    11
    Likes Received:
    0
    Occupation:
    Trader
    Location:
    NY,NY
    Silver and gold have sold off recently but still hover quite a bit above their 2013 lows. Investors are wondering if the metal should be bought as the Federal Reserve signals no stop to their bond buying program known as quantitative easing (QE).

    The charts probably give us the most unbiased view of where these metals are going. Neither chart looks healthy. Looking at the charts of the SPDR Gold Trust (NYSEARCA:GLD) and the iShares Silver Trust (NYSEARCA:SLV) shows the ugly reality. Recently both charts have broken to the downside below major trend line support. The 2013 lows are all but a lock at this point and gold still has a chance over the next year to hit $1,000 an ounce.

    Gareth Soloway
    InTheMoneyStocks

    [​IMG]
     
Loading...

Share This Page