Today’s Price Action
The trading and price action in gold and especially silver is following what I posted on Friday and is extremely positive. The charts and the previous action I described last week, told us we would be moving higher this week.
Don’t be fooled by the geopolitical happenings in the Mideast. Yes, they are important, to a certain extent, but are NOT the main reason for the metals positive behavior. That is what they are using as an excuse and to deflect from the growing demand for both metals.
If we get the long anticipated invasion of Rafah, it probably will accelerate the upside moves and contribute to spikes, that will allow the bankers to also have steep selloffs along the way. Don’t let that shake you out of this next upside move.
The key to watch will be if new highs are made in gold and if silver finally breaks out and closes above $30, with a meaningful follow thru. Get right and sit tight.
In the very short term, with tomorrow being Tues. and Hamas agreeing to the negotiated ceasefire, don’t be shocked if Israel stands down for a brief period and they do an overnite drive by smashdown of the metals. A possible last gasp opportunity for the silver banker shorts to cover before the run to and thru $30.
Here we go again…
Remember the jinx!!!
I don’t believe in jinxes.(As long as FGC isn’t allowed to comment.)LOL