Respect Nature

Thursday, July 16, 2015

Bullions Still Remain Bearish

Market update........

I have tried to warn over and over again about not trying to count-trend trade this market (in larger term Buying) until some resistance levels are taken out.  The market is set up to head to its final lows in this 4 year correction, but there are still questions about the exact nature of the HOW MUCH ?think we can see a final bottom until at least the end of August or early September & next is between mid november to mid january 2016, since wave 4 will likely strugle a lot and take lot of time traders will get frustrated 😴.
As for the GOLD and silver, neither of them are in solid impulsive patterns to the downside, but both have respected their resistance levels thus far.  So, for silver, without it making lower lows as GOLD has, the main resistance I am watching is the red down trend line.
In GOLD, I am looking at minimum 1157 region as the first resistance level, followed by 1165.  Until those levels are taken back, this market will likely continue lower.

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