23 August 2012

Gold Daily and Silver Weekly Charts - Hard into Resistance



So far it has been a real lift for the metals, as they have both broken out of their short term capping and coiling patterns.

Now they have both reached intermediate, rather than short term, overhead resistance from trend lines.

I would not be surprised to see a little consolidation here and a few weak hands taking profits.

Bill Murphy Interview: JPM Is In Trouble (audio)