06 June 2013

Gold Daily and Silver Weekly Charts - Coiling

Non Farm Payrolls tomorrow.

Gold and silver popped today as the Short Yen-Long Dollar carry trade unwound, and traders sold Dollars and bought Yen.

I include the West Texas Intermediate Crude chart below. As you can see it is tightening into a trading range I like to call a 'coiling pattern.'

Watch for a break out in either direction.