Tonight will be Christmas eve, but Christmas is coming early for gold and silver bulls as the price of gold rallied yesterday to close above its 50-day moving average and test key resistance.

Many gold stocks actually went to new highs as NEM closed for a new 52-week high for the year yesterday and so did silver giant PAAS.

Some mining stocks are providing great entry points on their charts. Take a look for example at RGLD.

RGLD has built a nice base to launch its next rally off of. Once it closes above $120 it should begin. Anyone could buy its now and put a stop loss on it under $115, the points of its 150-day moving average.

That creates a low risk/high reward setup.