As the markets open for the new week, we see some consistencies in markets. Gold was lower overnight but has turned around and now trading near the highs of the day. This action is consistent with a bull market or trending higher. Open lower close higher.
Silver has been trying to break out to the long side for a couple of weeks. If I were to guess I would say to turn long Silver, there must be a close above 26.5. Until we see the higher close, we will remain short. We recognize that the lean in Silver appears to be higher, but we need confirmation.
The markets are at a key time in general; you might think prices are cheap, but they could always get cheaper. There is one thing that applies to all markets and all traders: they are never cheap or expensive, they are fairly priced which was determined by the market.
The key to all forms of trading and investing are following the trend and not overleveraging. Trade and invest within your financial and emotional comfort level.