27 July 2016

Gold Daily and Silver Weekly Charts - So Far So Good

Gold and silver caught some legs to the upside today after the Fed did nothing.

The markets suspect that the Bank of Japan will be announcing something that sounds like 'helicopter money' on Friday, which will continue to boost the global liquidity depending on what they do.

Another day or two of upside for the metals and we may be getting that 'up, up, and away' action that we discussed last week.

We have an intermediate inverse head and shoulders working, and if it breaks out it signals 1450 as a minimum objective, against the cup and handle longer term target of 1490.

Silver is just a beast, explosive to the upside.

It turns out that the DNC had been warned some time ago that their servers were vulnerable to hacking, and they chose to do nothing about it.   I suppose that is consistent with Hillary's Luddite approach to tech security for her own State Department emails.

Let's see if gold and silver can hold on to these gains and add enough to stick a close in the breakout territory that lasts.

Have a pleasant evening.