Buy stop at 1298.50
Stopped out on remainder. Standing aside this market.
Order filled....stop on remainder to 1296.80
order in to sell 1/2 1320 OB, 30dy mav still declining
FOMC minutes calmed interest rate hike fears for the moment....long remains intact
Regained the 200dy....support at today's low...1295.20 stop loss...now eyeing 1320...
buy stop triggered at 1295.10 on daily chart. So far we are holding the 30wk mav. Hit some resistance at 1304, so we'll see if there's follow through on Monday.
Gold and Silver traders tend to follow seasonal dates. Not sure why, maybe because they occur near the end of quarter. But you'll notice the low occurred near the Winter Solstice. Next Friday is the Vernal Equinox. Sometimes these mark turning points. If might run up into it or pull back into it. Just something to watch and be aware of.
The upper bollinger band is now around 1400 and the Aug 24, 2013 high was 1433. That's the next target zone.
Both the 13wk ema and the 20wk ema crossed above the 30wk sma at today's close. Trend followers should look to buy pullbacks to the 20wk ema.