Good morning, the gold short trade from yesterday remains on and is working(kind of) so we will wait and watch on that. The news letter will contain a detailed explanation of a potential fundamental narrative shift in gold. My next focus is Bitcoin. I believe a trade of 105,000 breaks us out of the recent consolidation pattern and suggests new highs. have a great and profitable day -Jim-
Finance Unfiltered
Bobby Iaccino, Jim Iuorio, and Mike Arnold combined over 90 years of active trading experience In stocks, commodities and options. Real trades described by real traders. Look us up on your own, and ask questions..
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Good morning, my main focus today is Silver (SIN5 july). It appears to be in the process of an upside breakout. I’m looking for a daily close above 33.20 and then strength tomorrow above 33.45 and I will be looking to add to longs. Silver remains a long term hold for me. have a great day. -jim-
ES finally reached the final double bottom target today. On any continued rallies, the next target is the 200 sma (levels in the weekly newsletter) and then there is a major cluster at 5,835. As outlined in the newsletter, we had a pullback that concluded yesterday to the daily rotation zone and now we have rotated higher. We do have a potential double top in place but it would require a close below 5596 to trigger and if that happens then I would be more patient on pullbacks.
