GLD, weekly
SLV, weekly
Summary
Gold has clearly broken out of the huge down trend. Importantly, the recent multi-week bear flag..is now nullified. Silver is still lagging, but will likely follow with a clear breakout in the next week or two.
Q. What about upside?
GLD, first target is 130/31. A weekly/monthly close >132, will open up 145/50 within a few months.
SLV, first target 23.50, then 25/26
Despite those targets, I STILL hold to the bigger downside targets, for 2015, with GLD 100, and Silver in the low teens, possibly even 12/10.
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Bullish for the miners
With the strong action in the precious metals, the miners are seeing a strong upside push. There looks to be a further 30/35% upside in the Gold miner ETF of GDX.
