08 April 2011
Gold Daily and Silver Weekly Charts
Gold and silver both broke out cleanly today and nailed the bullion bears’ hides to the shed.
I have an open mind about a retest of the breakout for gold, but the short term target has been set at 1500-1510 with the inverse head and shoulder pattern that forms the right shoulder of the big inverse bull pattern that set up this breakout.
Big things are happening behind the scenes if you have eyes to see and ears to hear, and most of all a willingness to consider that all may not be as it appears on the surface.
The discussion and threats of a US government shutdown are primarily political theater which does not mean all that much, but it does demonstrate foreign creditors that the politicians are not men and women of serious business, but merely bought things, purchased souls, playing to their various constituencies.