Metals Feb 22nd
February 23, 2012 Leave a comment
Yesterday Gold declared its intentions, and today followed through. Subdivisions point to a possible w3 end, but i wouldn’t bet against it. It is probably due for a rise toward the 1900$ highs, but it could take a breath before accelerating if the move in the chart is the wave v of a complete impulse from the 1525$ low (second chart).
a break of 1.800 (and we are very near) would add strenght to this view.
Silver should be in a similar position but is it still not clear. I would analyze better during weekend
