Yesterday was an impulsive looking move and something of a statement in itself. But now technically, the metals and miners need to gather themselves (after a potential pullback on profit taking) and make a real statement.
Yesterday was the booster stage (gap up), and another leg up from here would give the precious metals complex the velocity to do some real damage with respect to upside targets. That is because important resistance zones are now at hand. While a pullback would be normal, gold bugs obviously do not want to see a terminal velocity situation where yesterday’s momentum erodes beyond normal profit taking. Continue reading "Precious Metals Must Make a Stronger Statement Still"