Gold And Silver Update | Silver And Gold Must Break Through Wall Of Resistance

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.

2 Comments

  1. Pingback: Oro e Argento - Pagina 221 - I Forum di Investireoggi

  2. I learnt something about the relationship between SMA’s, resistance, breakout and momentum here and what seems to be significant about breakout ie it adds another reason to trade. As you guessed, I am a learner here. (Only one possible suggestion for newbies coming to your blog – Just wish numbers were more visible as a learner. Is there a fix here?). Thanks for good content. D

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