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J&M Coin & Jewellery Ltd.
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Vancouver, BC, V5T 1W1, Canada
Tel: (604) 876-7181
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Articles and Commentary

Gold and Silver Trading
By Chris Vermeulen
May 18, 2010

Last week was amazing for gold and silver traders as the metals surged higher. The past couple weeks with the mini market crash and euro issues making the market extra volatile both gold and the broad market (SP500) index has been wild. The added volatility makes trading more difficult because price patterns become less predictable and price movements are much larger increasing risk for traders. Below are charts of what to look for in the coming days.

GLD - Gold ETF Trading
Gold continues to trend higher at an accelerated rate. Friday we saw gold pullback and test a key support level then bounced to close in the middle of the days trading range. As you can see the trend line support has become very steep and once the trend line support is broken I figure there will be a sharp drop to digest the recent rally.


SLV - Silver ETF Trading
Silver popped and tested a key resistance level from a previous high as expected. It also tested the top of its trend channel providing even more resistance. This week will be interesting as we wait to see if precious metals have a small pullback or continue to rally.


Conclusion:
In short, the market is trading on increased volatility making it difficult to find low risk setups. At the moment we are long gold and short the SP500 with both position deep in the money. All we can do now is manage our positions to make sure we maximize our profits.

If you would like to get my trading signals, be sure to check out my services at: www.TheTechnicalTraders.com.


TheGoldAndOilGuy.com is owned and run by me (Chris Vermeulen), an individual gold trading specialist. After sharing my gold analysis with friends, traders and financial advisors, I decided to make TheGoldAndOilGuy.com my full time job in 2003. This service was designed from the ground up to help individual traders who want to focus on consistent, accurate and profitable trades. Over the past ten years my strategy has been refined to one golden trading vehicle which has an almost 100% accuracy. The GLD (DGP and DZZ) gold exchange traded funds are now the most accurate trading vehicle I have seen, so it's my vehicle of choice. Members of TheGoldAndOilGuy.com not only get to trade my signals, but see my live trading charts and ask me all the questions they wish. My goal is for all of us to make money and have fun in life.


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