Monday, June 5, 9:37 am EST. The metals have opened a little bit higher, and are headed to that technical place where it is hoped they will breakout. That price is in the vicinity of $1,300 an oz. gold. I’m actually of an opinion, at this point in time, that it will be turned back again, and that I would hope that the technical indicators of market risk will reset.
But, because the resistance and support levels are coming so close together, the indicators may not get to reset… and, a breakout to the upside could occur. My point is, we need to ready ourselves for any scenario. If it should breakout, and volume expands, we can participate… jump on board that breakout, and go along for what should be a good ride.
For now… patience. We watch and we continue to wait.