Sunday, November 14, 2010

Precious Metal Trendlines

Monthly charts -- we'd be buyers of first test of trend-line on both the gold ETF and the gold miners ETF.

Shorter time frame on daily support at 58 for a short term rade.   Longer time frame trend-line support for longer trade hold.

 SLV more extended from trend-line as it recently played catch-up towards the historical gold-silver ratio mean.    Again, we'd be buyers of trend-line (and shorter time frame of 24.5).