23 January 2012

Gold Daily and Silver Weekly Charts



Nice up day in the metals.

The Fed will announce the results of their meeting on Wednesday.

This Thursday will be an option expiration in gold. The likely range is 1650 to 1700 based on the put/call ratios.

From the charts, it looks like gold will be hitting some fairly stiff resistance between 1680 to 1700.

The Republican presidential freak show kicks into high gear with tonight's Republican debate and the upcoming Florida primary election. So far it has not disappointed.