QUICK NOTE-This post is a quick notification to let you know that today's quite share move higher is not a big-deal-it seems to be just an emotional overreaction to Powell's speech. The important thing to note is that while proxy for silver(SLV) is stronger than mining stocks(GDX)-the former is above this week’s intraday high, while the latter is not. That's a strong clue that this news-driven(emotional move) sharp move is just a pause in a decline.
our outlook for the precious metals market remains very bearish.
we will keep you informed anyway
many regards-Neeraj Pandey
Our existing positions
ASSET--XAGUSD
Sell Limit Price: 14.900
Take Profit: 12.80
Stop Loss: 15.560
ASSET-GOLD
Sell limit Price: 1185
Take Profit: 1080
Stop Loss: 1221
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself (for instance, mining stocks show strength and silver -0.07% 0.07% -0.53% 0.13% -0.13% -0.06% -0.26% -0.19% -0.06% reaches a very important support level , while the USD reaches a key resistance), then we might do it, just like we’ve done previously (which ultimately caused the short position to be more profitable).
our outlook for the precious metals market remains very bearish.
we will keep you informed anyway
many regards-Neeraj Pandey
Our existing positions
ASSET--XAGUSD
Sell Limit Price: 14.900
Take Profit: 12.80
Stop Loss: 15.560
ASSET-GOLD
Sell limit Price: 1185
Take Profit: 1080
Stop Loss: 1221
( It doesn’t, however, mean that we won’t adjust (limit, close or even reverse) the position before this price level is reached. If we get enough confirmations other than gold’s price level itself (for instance, mining stocks show strength and silver -0.07% 0.07% -0.53% 0.13% -0.13% -0.06% -0.26% -0.19% -0.06% reaches a very important support level , while the USD reaches a key resistance), then we might do it, just like we’ve done previously (which ultimately caused the short position to be more profitable).
ASSET-GOLD
Sell limit Price: 1185
Take Profit: 1080
Stop Loss: 1231