GLD, weekly
SLV, weekly
Summary
It remains somewhat bizarre how many of the Gold bugs have once again been issuing end year upside targets, some even > Gold $2K.
The broader trend from 2011 remains bearish, and current price structure sure does look like a large bear flag.
The US Dollar remains vulnerable to renewed downside to the DXY 90/89s. If that occurs, the metals might be able to hold together into mid summer.
Regardless of any June/July bounce, I am holding to original targets of Gold $1000, with Silver $12/10.
