GLD, weekly
SLV, weekly
Summary
With the latest severe drops, the weekly charts are now looking really different. The recent price action of the past few weeks was indeed minor noise, and now we're seeing some truly horrific price action.
With the loss of key support, we're seeing an absolute classic example, there is simply 'empty air' below.
There are many 'soft' levels of support, but with the current severe - and powerful, velocity on the downside, its going to be really difficult for the Gold and Silver market to stop falling.
The monthly charts - as I recently highlighted, are very clear, GLD 120, with SLV 20..if not even the high teens, seem likely by June/July.
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*I suggest any reader to browse back to the posts from last week, all the original targets are unchanged.
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