Monday, December 07, 2009

Gold And Silver Test Support



Gold and Silver have sold off sharply over the past couple of days but are now testing support. SLV (silver) is testing the 17.50 level which is a very strong support area. If this are is taken out, the next level to watch for will be 15.75.

GLD (gold) has been holding its 30 day exponential moving average since the breakout in September. If this average is clearly taken out, the next level to watch for will be the 105 area.

1 comment:

Anonymous said...

From what I am seeing , we can expect to see some rat tails ( spikes ) prior to gold finally putting in a tradeable long term rally .

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