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!