Technical Brief: Bull-Flags for Gold and Silver?

Dear Central Bankers: Silver and Gold do not care about your opinion. They care about your actions.

-Soren K

Summary

written by Vince Lanci. Open interest is low, RSI at the bottom of the move was good, The Fed's effectiveness is dying,  The Yuan takes center stage  on Oct 1, and the press still hates Silver and Gold. Interest rates may rise between now and the end of the year, but so what? Either they are loading their gun for the next crisis, or they are chasing inflation.  BTD

Five Day Chart

A little dandruff never killed anyone

interactive Chart HERE

Gold/ Silver Spread

Expect more selling pressure when the New Spread Contract gets traction

 

 

Silver Daily

Same as Gold, but more fun

 

Also on MarketSlant

 

Gold Technicals

  • Wed was Outside Bull Reversal day
  • Target is $1380 >>  $1405+
  • Bull flags are good above $1325 (Pivot)

Silver Technicals

  • see gold above
  • Target is $2036 >> $2100+
  • Bull Flag safe above 1947 (Pivot)

-vbl

 

 

cbar

Read more by Soren K.Group