28 February 2012

Gold Daily and Silver Weekly Charts - Silver Roars Higher



Silver roared higher cracking up to the 37.00 level as the shorts were on the run.

Let's see if it can hold these levels through the end of the week. There will be very serious resistance around 41 if it should break higher from here.

Gold may be forming a massive skewed W consolidation formation on the daily chart. The neckline is around 1800. From the daily low close at 1550, on a breakout the minimum measuring objective is roughly $2,050.