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![]() What's Next for Gold and Silver? By Chris Vermeulen December 14, 2009 The past three weeks have been interesting to watch as commodities have been under pressure as the US dollar has risen. Below are some charts and what I think could happen in the next couple weeks. Gold The strengthening dollar is putting pressure on precious metals with gold testing the first support level. Depending on what the dollar does in the coming days we could see gold test the second support level. In my opinion gold can test the second support level without triggering any major sell signals for traders and investors. The trend will still be up and it is important to know the horizontal support level is more important than a trend line support level. ![]() Silver Silver is in the same boat as gold. Only time will tell if we get a bounce or a further test lower. Either way, the underlying trend is still up and we will be able trade it. ![]() Conclusion: Silver and gold are testing support levels and if the market continues to rally here, I figure precious metals will follow. But if we see stocks pull back and test support, then we will most likely see the metals pull back further also. If you would like to receive my Free ETF Trading Newsletter, visit my website: www.TheGoldAndOilGuy.com. Disclaimer: I currently own GLD exchange traded fund. TheGoldAndOilGuy.com is owned and
run by me (Chris Vermeulen), an individual gold trading specialist.
After sharing my gold analysis with friends, traders and financial
advisors, I decided to make TheGoldAndOilGuy.com my full time job in
2003. This service was designed from the ground up to help individual
traders who want to focus on consistent, accurate and profitable trades.
Over the past ten years my strategy has been refined to one golden trading
vehicle which has an almost 100% accuracy. The GLD (DGP and DZZ) gold
exchange traded funds are now the most accurate trading vehicle I have
seen, so it's my vehicle of choice. Members of TheGoldAndOilGuy.com not
only get to trade my signals, but see my live trading charts and ask me
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and have fun in life.Home | Products and Prices | Buying | Selling | FAQ | Articles | Forms | Top Website © Copyright J&M Coin & Jewellery Ltd. 2009. All rights reserved. Pricing index programming and site hosting by Sandrix Technologies Ltd. (AXD) | |||||||||||||||||||