Author Archive: Scott Pluschau

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Gold & Silver bears get help from the FOMC minutes

Gold & Silver bears get help from the FOMC minutes

Those who were short with leverage on copper may have gotten their prayers answered.  There was a breakout off the “Bull Flag” and the “Coiled Spring” in the overnight but the bears stepped up to meet the challenge.I think it is extremely importan…

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Silver breaks out of Diamond pattern on a surge in volume

Silver breaks out of Diamond pattern on a surge in volume

This is a follow up on the diamond pattern in silver from this morning’s post and it is worth another look here:  http://scottpluschau.blogspot.com/2012/04/chart-to-keep-eye-on-silver.htmlSilver had a textbook breakout fro…

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Chart to keep an eye on – Silver

Chart to keep an eye on – Silver

Silver is showing some congestion in the daily timeframe around the neckline of a “Head and Shoulders” pattern that has yet to be fulfilled.  This congestion is forming what resembles a “Diamond” pattern.  Diamonds can be either continuation …

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Update on Silver with a follow up from the CFTC

Update on Silver with a follow up from the CFTC

This is a continuation from a post I did on silver after the extraordinary price and volume that took place late in the Comex session this past Tuesday. That post can be found here. Silver’s 50 day simple moving average of volume is around 44,000 contracts a day. And in three minutes before the close of the Comex it traded nearly 3,000 contracts with a sharp move in price of nearly down 1%. Within minutes after the close it did what I would call a U-turn and proceeded to march back toward where it broke down from in the proceeding overnight session. This seemed rather odd to me at the […]

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Gold has my attention (Subscription service update)

Gold has my attention (Subscription service update)

This is not technical analysis this is auction market analysis on gold.   Auction market analysis is the foundation of what my trading methodology in futures is built upon. Gold is building up tension in the current o…

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Do you believe that the silver market is manipulated?

Do you believe that the silver market is manipulated?

Do a search on manipulative scheme called “banging the close”. Then take a look at this 1 minute silver chart today in the last three minutes of trading.  Today is Tuesday which is the cutoff for the Commitments of Traders Report.  I was wondering when the cutoff was since Ed Steer mentioned it in his Gold and Silver Daily recently.  Is it at the close of the Comex, or the close of electronic trading? Take a look at the second chart which shows the trading in the overnight after the close of the Comex.  The left hand side is a 5 minute chart. What do you think?   Consulting?  ScottPluschau@gmail.com  

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Pattern recognition of the day – Gold

Pattern recognition of the day – Gold

Gold had a perfect “Double Bottom” pricing pattern on the five minute chart today.  The second bottom failed to take out the first on lower volume, and the break in the neckline was history.  Do not be early on these patterns.  There is …

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Silver approaching neckline of a Head and Shoulders pattern

Silver approaching neckline of a Head and Shoulders pattern

Bulls do not want to see this neckline of a “Head and Shoulders” pattern fail on the daily chart in silver, right hand side below.  A H&S pattern is not bearish until then.Failed patterns are the strongest signals so should it breakdown with n…

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