Gold is looking good and ready to breakout to the next level higher again this morning. All signs point to our next target of 1800. Could anything derail the possible new bull market in Gold? The answer is yes, there is never a 100% certainty in anything.
Silver continues to try and push its way out of congestion but continues to fail. It would be our guess that Silver will breakout big to the upside although we are still short. We won’t change our position ahead of the algorithm; from personal experience the setup is explosive.
As many of you know we were short all the metals for months. While we are still short Silver the strength in Gold coupled with the tightening range trading in Silver points to a big bull market.
We do not forecast major prices, we look one level at a time. Gold is bullish with our first target at 1800, then 1850 and 1881. Certainly, could go a lot higher. Silver must breakout out first, but we could see 28 and then 30.