Thursday, August 17, 5:46 am EST. Gold’s up a .2%, and silver’s off .3%. Very little happened overnight. Was it a one-day-wonder? Was it enough to qualify as a likely rally start? Time will tell over the course of the next 4 to 7 trading days, in all likelihood. The last time we saw this, it was not. And, since this is not starting from a technically identified base, and is presently close to a recognized resistance level, it was almost certainly have to rise further, challenge and break through that downward sloping resistance line on the kind of volume that says traders are serious about this… or, fall back again.

I don’t see anything to anything yet… but, I’m watching!

Harold

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s