Gold, silver and platinum getting ready to launch
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
After being in downtrend for months the precious metals continue to set up for a big rally. The price action gets increasingly bullish each day. Interesting to say when the markets have hardly moved. The fact that they have held at these levels and continue to build on support.
There will be moves up and down, we don’t expect straight up. We are looking for a consistent run as gold, silver and platinum work their way out of congestion. Our next targets in gold are $1,800. silver $27.00 and platinum $1,300. We are looking for higher but those are the first targets.
Remember, this pattern can change and just because they are bullish now doesn’t mean they can’t turn bearish. Patterns last until they don’t as do trends. Long term, we expect metals to be higher and now they are bullish. However, the long-term view doesn’t change while in any given period of time trends can.
Tonight we have our Monday Night Strategy call, if you would like to join in the registration is below.