dont wait for a pullback . buy now into the breakout!
I did take a small position in the hopes that we do get the breakout. If not I have some dry powder left to average down on any dips. If we do get a breakout I'll be selling for some profit in anticipation of a pullback and retest of this level before heading on to fill our 3.29 gap. If things remain strong I expect that we could get through the gap and into the 3.40 -3.60 level before hitting any hard resistance. Our other wall today was the 200 day MA @ 2.79. A number of things adding to the blockage here. Another up day or two and our 50 will have crossed the 100 as well @ 2.37 & 2.38 respectively.
I just had a look at the gold and silver charts which i havent done in a while.
I am gonna reverse my prediction....I think we may hit around 1820-30 in gold and take another pull back. It may go to 1720ish and reverse, if not, 1650ish is in the cards next. Hope Im wrong but i dont think so.
On the brighter side, from there we will reverse back to where we are now in lightning speed...all the way to 1870ish.
silver will pull back too...not as much relatively though.