SILVER: bullish action today; key support holds
Although gold broke slightly below key support trendlines this morning and bumped up against them all day without success, the price action in silver was very encouraging, as can be seen by this chart.
Still projecting a strong move in the metals tomorrow and early next week. I tend to this that we're forming the B wave in an A-B-C correction for gold & silver. Both metals look like they're going to get close to the highs (certainly 90% retracement) - that is, if my trendline projections are correct.
Any further breakdown below today's lows would not be encouraging!
Still projecting a strong move in the metals tomorrow and early next week. I tend to this that we're forming the B wave in an A-B-C correction for gold & silver. Both metals look like they're going to get close to the highs (certainly 90% retracement) - that is, if my trendline projections are correct.
Any further breakdown below today's lows would not be encouraging!
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