In this week’s Best Stock Charts I make a bold call that within gold will have seen a bottom within the next trading week. Why? Gold and the gold stocks while week on the daily, weekly and even the monthly chart are under pressure the quarterly chart is showing a tightening consolidation within a triangle formation which. We are retesting the lower band of the formation which is a buy signal for gold and the gold stocks.
Our technical analysis for Best Stocks this week continues with a lesson regarding long term stock charts providing day traders with tools to identify the path of least resistance for the stock market or stocks that they may be currently trading. Swing traders and investors have long used these tools so subscribers to services such as Tim Sykes, Cameron Ross’s Warrior Trading, Cameron Fous an well as Jason Bond can still obtain value by using day trading tools while remaining day traders for increased risk reward entry points for penny stocks as well as the stocks that make up the S&P 500, Russell 2000 and NASDAQ.
I review stock request submissions by our Gold Members to The Contrarian Trader. I review the stock charts of their stock chart request with a particular focus on the gold and gold mining names because with the Federal Reserve Meeting on December 13, 2017 and the ECB meeting on December 14, 2017 we will see volatility in the US Dollar, US Stock Market, Commodities market even the penny stocks will see increased volatility. So those who are beginners to trading the stock market you should be paper trading and learning how geopolitical and Federal Reserve events can influence the stock market.
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