{"id":1161,"date":"2011-11-01T08:04:21","date_gmt":"2011-11-01T08:04:21","guid":{"rendered":"http:\/\/www.cashthechaos.com\/blog\/?p=1161"},"modified":"2014-01-14T22:37:03","modified_gmt":"2014-01-14T22:37:03","slug":"precious-metals-update","status":"publish","type":"post","link":"https:\/\/www.cashthechaos.com\/blog\/2011\/11\/01\/precious-metals-update\/","title":{"rendered":"Precious Metals update"},"content":{"rendered":"

It's been a while since our last post on precious metals. The price action right now seems to be offering a decent\u00a0opportunity\u00a0for a trade here.<\/p>\n

Silver:<\/p>\n

\"\"<\/a>

Silver Futures - Daily Charts<\/p><\/div>\n

The last post on silver was on Sept 16th when Silver was around $40 and expected a decline to $26. We are labelling that as part of the third wave and the move off that low has been a struggle and it seems like a corrective pattern and hence\u00a0labelling as corrective 4.\u00a0If this is correct, Silver should see a drop to atleast 28.8, if not a new low to 24.5<\/span><\/strong>. So a high above the 28th October high would negate this view and should be used as a stop<\/span>.<\/p>\n

Gold:<\/p>\n

The technical position for Gold is slightly different but direction is the same.<\/p>\n

\"\"<\/a>

Gold Futures - Daily Charts<\/p><\/div>\n

A move above the Oct 28th high would negate the bearish view but Gold is expected to trend lower to 1605 or 1513<\/span>. A stop above 1755 is a must<\/strong>.<\/p>\n

While I'm confident about these setup, the internal sub-divisions\u00a0on these PM's is not ideal but I like the Dollar Index's internal sub-divisons. So I guess this should make for a neat trade.<\/p>\n","protected":false},"excerpt":{"rendered":"

It’s been a while since our last post on precious metals. The price action right now seems to be offering a decent\u00a0opportunity\u00a0for a trade here. Silver: The last post on silver was on Sept 16th when Silver was around $40 and expected a decline to $26. We are labelling that as part of the third […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[41,76],"tags":[],"class_list":["post-1161","post","type-post","status-publish","format-standard","hentry","category-commodities","category-premium-content","category-41-id","category-76-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1161","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/comments?post=1161"}],"version-history":[{"count":4,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1161\/revisions"}],"predecessor-version":[{"id":1165,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1161\/revisions\/1165"}],"wp:attachment":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/media?parent=1161"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/categories?post=1161"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/tags?post=1161"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}