Metals: Gold & Silver Chart Action in Flux Today

Metals: Gold & Silver Chart Action in Flux Today

When we look at the gold market, if we finish right here, we’re just about an all-time high close. You’re down from it about seven-tenths; okay, that’s not very big. You’ve come up pretty good. Now, this was just interesting as can be you know you learn from things, and that’s the beauty of it. So, yesterday, that is Wednesday, you had a market with an outside day up. What it should not do is take out the low of an outside day. So the market didn’t take it out today so the trend is still up, market coming up.

Let’s go to the next step. The swing line has got higher lows, higher highs — bullish. The market support comes in right here at $2562.80. We’re sitting and we have been sitting at this $2600 level for a while, and the reason is you’re fighting with the Bollinger Bands right there. That’s a big number at this point, and it’s a problem number for the market.

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