It's all happening now.
Having surmounted the $1440 barrier, Gold posted another major upswing Friday, to end the week at $1475. $1500 is within striking distance.
Both Daily and Weekly MACD are rising indicating that momentum should remain upwards for now. RSI is also just below the 70 level indicating that gold is not over-bought.
Silver continues to boggle. Having soared over 100% in the last 9 months, Silver convincingly pushed through the $40 mark Friday.
Again Daily and Weekly MACD suggest upwards price momentum, but rsi has already been over the 70 mark for a while, however this does not imply an immediate downturn.
It's possible that both gold and silver are playing out the final stages of a rally before they wind down for the usual seasonal lows of the summer doldroms. Let's see if there is any truth in the adage 'Sell In May and Go Away'.
Regards
Chris
BreakOut!
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