Be advised that all my comments are my OPINION and that OPINION is based on my long term in-house model that I dubbed LAWG 647. The prices I use in my model are week ending prices, usually Friday. BTW, trading commodities is risky and not meant for those that faint at the sight of blood.
October 20, 2020
SILVER FINALLY CONFIRMS DOWNTREND
In a previous article I discussed the possibility/likelihood of December Silver turning bearish and as of last Friday’s close the LAWG647 Model did confirm a trend change to bearish.
The Model also tells us that December Silver will need a close at or above $26.258 this Friday to reverse to bullish. We also know that both the Positive and Negative Indicators are within the First Standard Deviation of the long term average, meaning there is plenty of potential selling energy left. According to the Model, Friday closes needed to turn the trend bullish are shown below.
Oct. 23, At or above $26.258
Oct. 30, At or above $26.877
Nov. 6, At or above $27.790
If you are interested in Gold or Copper email at lee@efggrp.com or call me at 1-877-304-1369
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Lee Gaus is a founding partner of EFG Group founded in 1992 which specializes in servicing Introducing Brokers. Prior to founding EFG Group Lee Gaus, Tom Fritz and Steve Erdman all began their Commodity Futures careers with ADM. Collectively Lee, Tom and Steve have over one hundred years of experience in the industry.
International Futures Group (IFG) founded in 1994 is a sister company to EFG Group specializes in serving institutions, professional traders and individual investors.
We believe our experience and the development of the Model provide our clients, Introducing Brokers and individual clients a unique perspective. If commodity trading is what you do drop me a line atLee@efggrp.comor give me a call at 312-384-1166, or 1-877-304-1369. We will be glad you called and are confident so will you.