The SPDR Gold Shares (NYSE:GLD) and the iShares Silver Trust (NYSE:SLV) are both moving sharply higher this morning. Generally, after a China increase in interest rates gold and silver have come under declines or come under pressure, however, that is not the case today. This is telling us that something else is being interpreted by the market when it comes to gold and silver. Short term traders can watch the GLD to have some short term intra-day resistance around the $133.50 and $134.00 levels.
Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.