Gold up 4%, silver up 7% after Friday market action propelled metals over key resistances and well above 200 MDA.
Looks like the metals are waking up in the fashion we can only remember from the year 2009-2011… Some think gold will go right through 1350/1400$ and 23.50$, but I do feel like $1350 and $22.50 are not so sure to be resistances that we can erase in just 1 or 2 trading days… Not trying to put down this recent rally, I am enjoying it, but 22.50$ is a solid resistance for silver and we are approaching overbought territory. We’ll see, hope that I am wrong and it will be even faster for the metals to go higher. In particular silver will get a real boost after the 25$ mark…