Buy Gold and Silver before the third waves of 2008 financial crisis continues its destruction to the
- Ka Keung Choi
- Oct 17, 2016
- 2 min read
Gold and Silver broken the down trend in Dec. 2015, for Gold price it climbed from 1046.60 all the way back up to recent high level of 1375.00 from this level in July 2016 Gold retreated back down, on the writing of this article price of Gold is at 1253.00, that is 1/3 of the recent up trend has been vaporised.
Price is now at the first wave of support, a correction should occur here and if market return to the buy side, this could be the support wave that bring price back up to further high. but if price drop below it with a day close candle, price could retreat to the second support wave level, worse scenario is that price return to support wave zone (shows in the chart here) for a double bottom before price return to the upside again.
One thing we need to bear in mind is that the financial market today is not in the beginning of a bull ride, its actually in the end of the rise cycle. most of the blue chip stocks are already reached a strong price rejection zone. A strong market consolidation towards the downside is expected soon. History explain to us that when market is in fear, and panic, elite investors will go for Gold and Silver until chaos is over.
Therefore, its a good opportunity to capture Gold or Silver during this period of uncertainty, check out the charts for Gold and Silver in this page and wait for the price to reach the support wave levels and zones. you might capture the jackpot!
Comentários