Gold has continued its run up from $2,300 and shows little sign of abating. We took a technical perspective when David Russell spoke to Chris Vermeulen from TheTechnicalTraders.com.
In this very quick debrief we took a look at the present trends and future potential of the silver, gold, miners and oil market cycles. Utilizing technical tools such as Fibonacci extension and retracement, Chris delivers a thorough analysis foreseeing a possible surge in silver prices and sustained bullish trends in gold. Chris is very confident that we'll see $2,600 'plus change' in the very near future.
Vermeulen says, "Silver was lagging gold, but it has come to life."
Silver has an interesting chart pattern, and it can have ballistic moves to the upside. He has an upside target for silver at $36 an ounce.
The conversation also addresses the broader influence of market cycles and economic indicators on commodity prices.
Right now, things are changing very quickly, across markets. So both Dave and Chris stress the importance of readiness for market volatility and the likelihood of substantial shifts in precious metals and energy stocks due to broader economic and geopolitical factors.
If you're wondering if now is the right time to buy gold or the right time to invest in silver then this is a great place to start. It will give you a great oversight of what is going on in markets right now, and give you the confidence to take the next step on your precious metals investment journey!
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