Well, now that volume is asserting, we are up some 50% off the year's low, and we have made a new yearly high todat at $9.25, what next?
The AUMN October high near $9.40 is the next hurdle, and once we get a close above there, then there should be quick move up to REAL resistence at the $11-12 zone. Look at a chart including last Aug/Sept and you will see the congestion and breakdown from the $11-12 area.
The best news is that there is covering now and PM shares are in a position to move up QUICKLY!
Gold is approaching $1680 today, up $155 from that 12/29/11 low, but there are overbought signals.
Silver may want to try $33 here and now on this move [metals can stay overbought longer than you might think] and has reached $32.60 today...that's some $6.50 up from its 12/29/11 low....WOW!
There is no question that 12/29/11 was a big intermediate low, and Sinclairs $1650 angel provided general support just beneath there. Now we have busted back above it, but there could be another test of it over the next few daty as G&S pause to breathe......looking forward to the best PM share moves up since 2006 this year.....pic
