Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Price action seems to be weakening. So first major support level is 1700 on Gold spot and resistance at 1800. I'm personally hedging my bets by doing a relative strength trade and going to go long Gold and short Silver. As silver is weaker here IMO as it is in a stage 4 down trend on the weekly chart and below the 30 week moving average. Whereas Gold is still in a late stage 2B uptrend on the weekly and above the 30 week moving average.
"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" – Reminiscences of a Stock Operator.
Not many people trade Palladium, but I've traded it on and off over the last few years. But I only recently started getting the daily futures volume data from the CME, so the chart is a little bit broken up at the bottom in the volume data and force index. It made a very large stage 3 top over the last year and is now in a stage 4 downtrend and looking weaker than silver as it didn't manage to reach the 30 week MA on it's bounce. Here's my chart
"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" – Reminiscences of a Stock Operator.
Here's the updated weekly and daily charts for Gold, Silver and Palladium. All looking weak here imo, with Palladium the weakest and Gold the strongest of the three.
"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" – Reminiscences of a Stock Operator.
Palladium can be traded with either Futures at the CME or via ETFs. PA is the symbol at the CME for the futures prices. Volume is very low on a daily basis, roughly 2% of the size of gold. So volumes are thin. You can also trade via a physically backed ETF on NYSE using the PALL symbol or in London via PHPD.L
ETF Securities are good to look at for the ETFs in Europe as they trade most of the commodities.
HG is the symbol for copper at the CME and volume is ok at around 1/3 the size of Gold and 1/4 size of Crude. This can also be traded via a physical ETF in London - symbol PHCU.L but I'm not sure on the US physical baced one. But JJC tracks the copper index.
Hope that helps
"Fate does not always let you fix the tuition fee. She delivers the educational wallop and presents her own bill" – Reminiscences of a Stock Operator.
Symbol JJC is the iPath Dow Jones-UBS Copper Subindex Total Return ETN which is an index created to track copper. The tracking isn't bad, but under performs the spot price a bit over time like a lot of ETFs as you can see from this relative performance chart