Precious Bull

I’d like to share two bullish charts on a sector that I’ve been persistently bullish on for the long haul: precious metals.

The first, gold, blasted above its descending trendline on Wednesday morning. Any weakness down to $4,200 would be a very appealing buying opportunity.

The other, silver, might be one of the most massive cup with handle patterns I’ve ever seen. It lost more than half its value from its January peak, but I think the low is in.

My overarching “bullish precious/bearish equities” thesis is fully intact thanks to my ratio charts, although I’ll be the first to admit the second part of that formula hasn’t kicked in yet!