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Tuesday, November 25, 2014

GOLD AND SILVER UPDATE: you won't believe what happens next!


Here's some more charts, by the way.

GLD:


It's still above its EMA(7), so by definition gold is in an uptrend.

SLV:



It's still above its EMA, so again, uptrend. Note that I do personally believe the fundamentals for silver suck balls; however, the entire market's known this for a while, I bet it was already baked into the price. Maybe too baked.

And here, again, is the key:



If UUP breaks down from this horizontal consolidation, I'm hoping I see some fun to finish the year as long-short PM pairs get unwound. Maybe it won't happen, but it's my bet anyway.


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