Price Correction Mostly Over – Possible Sideways Chop
Yesterday’s Treasury announcement just accelerated the timeline and amplified what would have been a multiple days rally into a one day spike. We have ALREADY had the likely pullback early this morning. With Gold reaching the “first target” around the 200 day mvg. it corrected to near 4450, and that should be as low as it is likely to go. A few days of sideways chop and drift is likely. Silver, however, despite it’s sharp rally yesterday, still has room to run towards it’s “first target” around 71+, where it would reach it’s 200 day mvg. avg., as well. Today’s morning pullback low is probably as low as Silver corrects. When and how fast it works it’s way towards 71, while unknown, is likely to occur by next week.
Amazing what’s going on. It’s interesting to see the divergence between USAS and HL. HL is leaving USAS an the dust. Maybe USAS will catch up, but I sold most of my USAS and put it into HL a few weeks back based on your advice, and I’m glad I did. Your recommendation is well appreciated. Thanks!!
You’re quite welcome.