Gold and Silver Correction Ending
Commodities / Gold and Silver 2011 Mar 18, 2011 - 06:20 AM GMTBy: Mike_Paulenoff
Although gold and silver have yet to show much, if any, upside volatility amidst the Japan crisis, the patterns carved out during the past several sessions strongly suggest corrections are ending and new uplegs about to emerge.
Given the uncertain and chaotic environment in the financial markets, this move could be powerfully higher -- towards $1525 in gold and $40.00 in silver -- against a backdrop of a rising euro/USD (falling US Dollar). ETFs that would be benefit include the SPDR Gold Shares (GLD) and iShares Silver Trust (SLV).
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By Mike Paulenoff
Mike Paulenoff is author of MPTrader.com (www.mptrader.com), a real-time diary of his technical analysis and trading alerts on ETFs covering metals, energy, equity indices, currencies, Treasuries, and specific industries and international regions.
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