Hello friends, and sorry I'm late with my weekly metals preview -I've been busy moving. In fact, I'm only half done so I will have to be brief.
I held my gold position into the weekend, which was risky. I'm looking to take profits this week. A test of $1730 this week seems likely (see dotted blue line on weekly chart below). I expect it to hold.
I expected silver to have a more emphatic upwards move after breaking out of its symmetrical wedge last week,
but as long as it stays over $34 (above lower trend line of wedge), I'm very bullish.
Also note the steep-sloped purple dotted lines have crossed the $30 level. In my opinion, it will take a serious deflationary catastrophe or some hardcore manipulation to send silver below $30 now.