16 September 2010

Gold and Silver Daily Chart


Gold



Silver

As T. E. Lawrence said after the massacre at Tafas in 1918, 'No Prisoners.'

This is what happens when the stranglehold of manipulation is relaxed on a market with tight supply and steady demand.

Target is 21.80, but watch out for pullbacks especially if there is a large selloff in stocks as we suspect there will be in the latter part of September. A pullback to 19.50 to retest that big resistance would not invalidate the chart formation.