Tuesday, November 25, 2014
GOLD AND SILVER UPDATE: you won't believe what happens next!
Here's some more charts, by the way.
It's still above its EMA(7), so by definition gold is in an uptrend.
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.