Metals: gold and silver

I am a huge fan of Gold and I look at this instrument almost every day. Silver lives in its shadow, but that does not mean that I ignore this asset. I most recently analysed this metal on Friday, as the technical situation was very interesting. My price action approach was telling me that we are very close to a major buy signal. The new week started very well, so our view from Friday was spot on.

We start off this Monday with an analysis of gold. The precious metal has started this week on the front foot, and we are currently in bullish territory with a legitimate buy signal.

December and January were great for gold. February started off very well too, although we do currently have a small bearish correction. Does that mean that the optimism is over and we should get ready for a new drop? In my opinion, not really. Technical analysis is telling me that we should see new mid-term highs soon.

Mid-2018 may not have been the best time for gold but the end of the year was awesome. The beginning of January has basically seen a continuation of the positive sentiment on this precious metal, occasionally strengthened by additional factors.