Bearish Reversal in Gold & Nasty Reversal in Silver
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We thought Gold was on its way after convincing weekly and monthly closes, but it put in a bearish reversal at $2100. Silver put in a nasty reversal at $26.
We discuss the short-term outlook and note that $2100 and $26 are the gateways to new bull markets.
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Jordan Roy-Byrne, CMT is a Chartered Market Technician and member of the Market Technicians Association. He is the publisher and editor of TheDailyGold Premium, a publication which emphasizes market timing and stock selection, as well as TheDailyGold Global, an add-on service for subscribers which covers global capital markets. He is also the author of the 2015 book, The Coming Renewal of Gold’s Secular Bull Market which is available for free. TheDailyGold.com was recently named one of the top 50 Investment Blogs by DailyReckoning and WalletHub.
