While I slept, I see that April crude spiked to $103.41. Wow! Though it has since pulled back to 99 and change, events in the Middle East continue to spin wildly out of control and must be watched very closely. As the tumult grows and spreads, expect a positive impact on the price of gold. The chart looks great and demand may soon suddenly increase so...lets just say I'm not looking to sell any of my April calls just yet.
Oh, and here's your updated hourly chart. Gotta say, that's about as solid as it gets:
While we collectively hold our breath watching every tick in the silver market, here's a chart to chew on:
That's it for now. I've got lasts of 1415 and 33.18. Don't stray too far from a computer today. This promises to be a another wild ride. TF
10:30 EST UPDATE:
Note that silver bottomed at the exact same time yesterday and at the exact same price. No, there's no manipulation here. None, at all.
At any rate, IF the EE is successful in taking out 33 later, they would still have to take out 32.70 before I'd get nervous. On the other hand, a strong bounce today, like yesterday, off of the morning lows and UP to 33.75 will again be met with EE resistance. If/when that level is bested, look out!
12:15 EST UPDATE:
Today is a lot like the previous two days. There have been repeated attempts to accelerate price downward but each attempt has failed to significantly breach 33. Lets watch the close to see if we can fight off Blythe yet again and close green.
And I think its safe to say that President O'bottom regrets this photograph...Yikes!