Thursday, 12 April 2012

Silver/Gold morning briefing

Good morning, a quick look at the two shiny metals.

Both Precious metals remain weak, on a daily, weekly, and monthly cycle. The 5-10 year up trend is of course still massively bullish, but the last year has been rough for those who bought near the highs.

SLV, daily

GLD, daily


Silver MUST hold $30..or there will be real trouble. Gold is still stronger, but is also still in a broad downward channel.

*considering the weakness in Copper (see previous post)...if I had to guess...I'd say Silver will snap through $30 within the next 1-4 trading days, and take Gold down with it.