🔥Today we saw gold, silver, and palladium all hit new highs!
Since the correction at the end of October, gold has been trading above the 25-35 day moving average.
Silver, on the other hand, rose along the four-hour moving average;
Palladium rose along the three-day moving average.
Synchronization: This "synchronized new highs" usually signifies the start of a major trend. Gold provides "stability," silver provides "elasticity," while the addition of palladium indicates a dual surge in industrial and investment demand.
In this clear upward trend, trading volume has not weakened significantly and no bearish structure has emerged. Don't try to short the short at the top; otherwise, you'll become "fuel" and be carried along. Although the overall environment indicates poor liquidity in the US, the candlestick chart is the true reflection, and you should follow the trend.
Most importantly, do not prematurely declare a top unless a clear top formation or a significant sell-off with high volume is observed. There will be higher highs after the initial peak, and even higher and higher still, so do not sell prematurely.
However, it's also important to carefully monitor whether the price breaks below the moving average and enters a consolidation phase. Generally, the market needs to enter a consolidation phase before it has a chance to turn bearish. The probability of a direct shift from a bullish to a bearish trend is the lowest, so even if the market reverses, it will usually experience a period of consolidation first.
For instructions on how to correctly use moving averages, see here: followin.io/zh-Hans/feed/22071...…
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