Tuesday, January 25, 2011

Here's my take on Gold and Silver for the time being

The correction seems to have begin and can possibly last through the middle of March depending on how deep the correction will be. Charts below I put together over the weekend but just did not have time to post yet. Will make further comment later as I am still pressed for time.

Gold hit the first target today and it the correction continues through mid March we could certainly see 1250 gold.  Likely though is a hold up at the $1300 level for psychological reasons.  This bull trend in the PMs is not over by a long shot and a correction here is actually healthy for the metals IMO.  Shake a few out and resume the march.  key is to accumulate as the blood runs and sell into the rallies, but you all know that.