Polls show that you were optimistic about the probability of another rally for top metals. Both of them go well with the maps that I shared earlier this month. Let's see, in the updated charts below if they are going to justify your bold expectations.
Gold is the first as it has a stronger position now.
The top metal completed the sideways consolidation that I showed you two weeks ago. It didn't touch the 38.2% Fibonacci retracement level at $1636 as it stopped at $1671, which is even higher than the first leg of this corrective structure, which was established at $1661. It is an entirely natural outcome as the last leg down started at $1766, also higher than the top of the first leg did at $1748. The second leg down was longer ($95) than the first leg ($87). Continue reading "Is Gold Poised To Move Higher?"