Technical Notes Gold & Silver ETF

I know the bears are growling, but this pessimism is misplaced. The correct description is mistimed. Time is right for the bulls rather than bears. When time is right, price will follow.

Silver ETF (SLV):

Silver

Silver, SLV, looks good. The 3/29 gap held the decline. The energy of the test was strong, so it has yet to generate a bullish setup. A bullish setup is a test of support on diminishing energy. Diminishing energy suggest waning downside force. What cannot break support (or resistance) with force, will reverse and attempt to break resistance (or support) with force.

Gold ETF (GLD):


If silver looks good, then gold looks great. Trend energy is slowing increasing. This is reflective of an A-wave advance (slow, steady, and full of disbelief). The December 02 overhead gap magnet is pulling hard now. This resistance zone will be defended vigorously. As long as trend energy continues to build, it is only a matter of time (likely 3 taps and out trading heuristic) before this zone falls.