gold news

 Back when silver broke 35, I said it was going to make a slingshot move, and it really appears that that is happening. So, let's take a look. This is a 9month chart. And when silver uh broke through this resistance area, I said that it was going to be making a slingshot move and it broke 35 and then just a little while later it broke 36 and now it has broke 37. But more importantly, it closed above 37. Uh let's take a look a little closeup here. So it was uh down in the $33 area, then it uh broke up to uh

through 34, but it had been to that at that price before. Uh then through 35 and then through 36. And now we're getting to prices that haven't happened since 2012, 2011. And the important thing about the close here at at 3712 on stock charts, everybody has slightly different data feeds and there's this is the uh continuous contract on the Chicago Merkantile Exchange and there's different futures contracts. So whenever you look at silver, there's uh several prices available whenever you look at

any of the precious metals. But if you go back to um uh late 2011 um if I put a horizontal line here and we put it right at this 37 you'll see that it touched this 37 area except the intraday was 3742 I believe but the close that day was down at 34. The day before was an upday and the close was at 35 something. And so uh this close at 3712 means as far as a close goes we haven't seen uh any resistance. It was it was early in 2011 that uh that it was at these prices before. Uh so the close is

very important. But now what we've got left is just this stuff right here. That's all that's left that's that's sort of in the way as far as resistance goes. Uh that we should get through this pretty quickly here. I am expecting though when it gets up toward 48 for it to do a retracement. There's going to be some resistance. There's going to be a lot of selling. there's going to be a lot of professionals uh taking some profits and so on. And so uh it'll probably go up and almost hit

50 and then do a pullback and then it might take another couple of times of trying to go up and get past that price. But when it does, I think you're going to see those triple digits that I've been talking about for so long happen pretty darn quickly. I hope you enjoyed this video. Please like and subscribe. We'll see you next time.