BB's "fish lips". Not wise to short the metals now
Must close >1,210.3 tomorrow to avoid it
Gold is approaching "Market Structure" Time Is In. Watch for panic flush into potential areas before the turn.
THIS IS AN UPDATE FROM THE LAST POST GOLD IS FOLLOWING THE MODEL OF THE "PATH OF PRICE" WATCH FOR LATE LATE MAY THROUGH MID JUNE... BREAKING DECISVELY ABOVE 1335 NEGATES THESE PATTERNS
MULTIPLE TECHNIQUES SHOWING CONFLUENCE..... TIME IS APPROACHING... IT IS GOING TO GET VOLATILE RETEST THE DOWN STRUCTURE OR AND FLUSH TO LOWER LEVELS OR BREAKS OUT TO RETEST THE HIGHS
PRICE ACTION ON 15 BASIS... OBSERVE PRICE...STUDY PRICE IT SHOWS THE SIGNS OF WHEN TO FOLLOW
OBSERVING PRICE ZONES.......IF FALURE BELOW 1211.20 THEN LAYING OUT SOME PROBABLE PATHS OF PRICE.. ANY CLOSING FAILURE BELOW 1175 INCREASES ODDS THAT PRICE WILL RUSH TO THE BREAKOUT AT THE BOTTOM OF THE BASE.. STAYING ABOVE THE HIGHLIGHTED BALANCE POINTS GIVES THE DESIRE BIAS OF ITS PATH.
DESCRIPTION ON CHART
Roadmap......Gold is approaching strong overhead "Potential Resistance" into "Time". Breaking below the inflection point of 1142 increases the odds to attack deeper targets.
Silver, like gold, is forming a significant bottom as its weekly and daily RSI, Stochastics and MACD have all either turned higher or are completing their bottoming stage. Significantly, silver has been trading within a price range that previously saw consolidation activity in the summer months of 2010 before silver skyrocketed to near 50. I`m not suggesting...