Monday, April 15, 2013

The Stampede out of gold

This is a clip from a Getting Technical Interim Update April 14, 2003 #GT1400

See chart - The shorter term intermediate study - Both gold and silver have built long and complicated 5-wave corrective triangles. The price magnitude of the 5th and last selling wave is not predictable but will end quickly and provide opportunity for investors to add to their portfolio weight The support levels are likely the hold and introduce the continuation of the longer term advance.

These torpedo-like moves tend to occur at the end of a bear and never at the beginning of a bear.

Chart 2 – thanks to the CME a 15-min inter day at 3pm of May silver – note the triple bottom – which displays some small support in here

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