Gold London P.M Fixed and Gold Diffusion Index (DI):
Silver London P.M Fixed and the Silver Diffusion Index (DI):
The extremely quiet bullish setup in the Euro confirms the potential for further upside in precious metals.
Euro (FXE) And Euro Diffusion Index (DI)
In response to Silver Is A Tough Game
Hear hear.
Next week being expiry week, I'm sure the PMs are going to get
flushed. Aside from 1300 yielding relatively easily in gold, every
other hundred dollar round number has taken at least 6-10 crossings on
the daily chart before giving way to the upside. I expect 1600 to put
up a similar fight... Here comes the conclusion of round 1!
Plus, I like how they pre-etched 1610 in the chart a few hours before
the big raid this week. It's like they were digging a trench behind
the front line before starting the battle. Man, they're good.
I didn't like the bombing news in Norway, though. The timing is too
perfect to take the heat off of the debt crises. If they get
desperate enough, maybe they could start a war to cause a rush to
liquidity. Maybe this is why everyone is holding cash right now...
Great work as usual.
Fred
