Definite Change In Gold & Silver Trading Behavior
One of the reasons I have continued to be bullish(and even more so lately) about gold and silver, is the way it has been trading the last few months since bottoming. Not only have the charts shown bullish behavior in the definite trends of higher highs and higher lows, but the actual daily trading and intraday trading have exhibited positive behavior as well. Normally, I wouldn’t care about how a stock trades during a specific day, except when I am looking to enter or exit a position. However, in the case of gold and silver, I care, and follow very closely how they trade daily and during certain periods of the 24 hour day, specifically because they are so controlled and manipulated by the futures traders. I have discerned that there are patterns of trading during certain timeframes over the course of the day, where one might not be able to predict direction and price, but can expect certain times of the day when run ups in price fade and when sharp drops culminate and begin to stabilize. Recently, this behavior is reinforcing my belief that I have expressed in a number of posts, that an upside breakout for both gold and silver should take place no later than early in 2023. It could start this week but with only days left until 2023, it really doesn’t matter unless you are sitting on the sidelines. I have said it before. Better off being days early, than even one hour too late!