Monday, March 1, 2010

Are Gold/Silver Getting Ready to Rock n Roll?

Let me preface this with the fact that every time I get "in my bones bullish," the cartel manages to pull out a big surprise attack on the metals - so maybe this is a good contrarian indicator. Having said that:


I think we're on the cusp of a big move up in the metals here - I can feel it in my bones. Gold has tested the inverse HnS breakout area (1030 area - not exactly but it did hit a 1044 intra-day low which is close enough for Government work and IED bombs), it weathered the Fed/IMF smash attack and it is really weathering the euro/pound cliff-dive well. When Greece is resolved, it will create an explosion higher in the euro and gold will do a moonshot. I think this is partially why we're seeing the commercial long side grow. Gold could well be on its way to hitting its technical objective from breaking the inverse HnS of $1350 area. From there, who knows...we're also going into what is a stronger seasonal period.

0 comments:

 

©  Powered by Simple Healthy