Having reached our critical resistance points, both metals rest this evening in important positions. Gold has made it to 1525, even reaching as high as 1529 before being beaten back. We really want it to hold on now. Not that it can't give some back but we don't want to see it move below 1515. Look for it to continue to base overnight around the 1525 level. Maybe as soon as tomorrow, it can make a second assault on 1525-30 and burst through once and for all. Above there, it should only encounter minimal resistance as it heads toward 1545.
Silver is much the same. The Cartel would love to contain it under 36.50 and they may very well succeed as I wouldn't be at all surprised to see it dip back down toward 35.80-36.20 overnight. The buying interest seems significant, however (hello again, BoS?), and it looks like the next trip up near 36.50 will be the one to drive it through. You can clearly see on the chart that very little resistance is indicated between 36.50 and 39.50, other than a little at 38. Let's sit back and see where this takes us over the next 24-48 hours. It should be very interesting.
Unfortunately, that's all the time I have. Sorry. Mrs F's 2nd yogurt store is opening later this week and things are a bit crazy. Thanks for your patience.
For now relax, smile and be happy. We survived the most brutal assault The Cartel has ever amassed and now things are rebounding almost exactly as planned. Truth is winning once again! TF
p.s. It's time for another "Hat Contest"! Please use this thread to enter your guess for the date and exact time (New York time) that silver prints $40.00 again. Contest closes when I start a new thread tomorrow morning. Good luck!!!