All speculation of course: how Wave 3 will play out via technically
Could develop a penant style range trade..
I think we would all agree that gold has performed extremely well of late. Will it take a breather, or will it accelerate up to $2,000/$2,500+ by the end of the year?
I think it may take a breather, at least for a few weeks as the cartel try to hold the price back below the new resistance at $1780.
Perhaps the new trading range for gold is $1720-$1780? I think this could be the case for the short term (the graphs look almost too obvious). If that is the case, maybe silver will play catch up for a day or two and spring up to $44.
Of course, I would be happy to be wrong on the gold part!