Amazing ActionMonday July 11, 2016 15:12
A cracker of a week to let our stock positions consolidate and now they have resumed their upwards trajectories.
Precious metals are also doing very, very well along with miners.
There really isn’t a lot to say with everything acting very orderly this past week and looking to continue that trend.
Gold gained 1.67% this past week and is setup to continue its move higher anytime now.
Gold is setting up a nice bull flag with $1,370 a buy area out of this flag.
Silver continues to lead gold higher and gained 2.49% for the week.
Silver has a great bull flag that points to higher again anytime now as it moves to its next major resistance area at $28.
Platinum gained 3.60% as it now breaks the $1,100 resistance area.
Great action that really needs nothing more said about it.
The next resistance level to watch is $1,175.
Palladium gained 2.10% and is also acting great and trying to breakout higher again now.
A move above $620 can be bought as we move up to the next resistance level at $691.
All in all, stocks are acting much better than I’ve seen since late 2014 for now and precious metals have really done well after reversing their dominant trends to up.