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Precious Metals Nex Leg Up Is Beginning

Published 02/26/2017, 12:11 AM
Updated 07/09/2023, 06:31 AM

The next leg up in a new daily cycle for the precious metals has begun. Silver is breaking away above its 200 dma with little resistance now until it reaches $19. Gold is approaching its 200 dma and once it breaks through that resistance is expected to top somewhere above $1300+.

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Good stuff Gary. One thing that stands out when looking at metals charts, is the lack of big daily green candles. This has been a nice smooth rise in both metals. Look at some of those massive green daily candles in the early 2016 bull market and previous bull markets. I think we are due for a couple soon. If gold puts in a 40 buck daily green candle, I'm pretty sure that would ignite the miners. I remember last year when silver had an 8% daily green candle. I'm not expecting that although it would be nice, I think we will start seeing some 3% daily candles soon. If silver can blast through and hold 19, things could get really exciting.
Sterling video as per usual Gary!
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