Gold and Silver tested our patience with their month long consolidation during which all volatility had dried up. They finally broke through the top bracket of their sideways channel (see above video).
As to where we’re heading next, we need to be aware we still have some major hurdles to push through and there are walls of resistance where they metals could potentially fail to penetrate. One particular pattern that looks interesting is a probable ABC bearish pattern which fans of elliott wave theory may appreciate.
Once we see a close above these key technical levels we can start adding to any long positions.
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