Gold Daily and Silver Weekly Charts

08 April 2011

Gold Daily and Silver Weekly Charts

Intraday comments on the markets can be seen here.

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.

Advertisements
This entry was posted in GLD, Jesse's Café Américain, Silver, Technical Analysis, USD. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s