Gold & Silver Testing Important Breakout Levels
(Click on image to enlarge)
Gold and Silver from a long-term perspective have created a series of lower highs over the past 8-years. Will 2019 bring a change to this trend? A big test is in play!
Gold since the lows in 2016 has created a series of higher lows, while Silver may have created a double bottom.
Gold & Silver are currently facing break attempts a (1) and (2). These falling resistance lines have disappointed metals bulls for the past few years.
The direction of Gold and Silver weeks and months from now should be highly influenced by what each does as they are attempting to break above important resistance levels.
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Thank you for the chart Chris. It looks like 1300 will be the breakout line in the sand.