GLD, weekly
SLV, weekly
Summary
Perhaps the most notable aspect this week, was that with some significant gains, price structure of a bear flag has been completely negated
So.. where now?
Gold and silver rallied from multi-year lows in Dec'2015 to July/August 2016, and have seen around three months of broad cooling.
Not only is there some underlying upward cyclical pressure, but we're clearly seeing a slight fear bid for Gold/Silver.. as the US election nears.
Seen on the giant monthly charts, some could justifiably argue that the past few months are merely a large bull flag - as also reflected in many of the related mining stocks.
To have clarity of that, Gold/Silver.. and the miners, need to break above the Sept' highs.
