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Gold and Silver Prices – The Pullback before the Catapult
I believe Silver is about to bottom below $22 but above $20, most likely with a $21 handle. Gold will follow somewhere between $1962 to $1923, most likely around $1950. In other words, one more lower low and up we go. The levels to break on the upside in Silver to confirm the low is in place are the prior peaks at $23.15, $23.50 (200-DMA), and $23.72. The same goes for Gold between $2040-$2060 and, of course, $2090. The positioning of the Funds in Silver last Tuesday was already bullish, although it obviously allowed for slightly lower lows in price. The Banks’ net position did not change much. It remained ... (full story)