Yesterday I put some targets for a silver pullback and it hit the .38% fib number today. I also think gold is overdone on the downside and should begin to turn back up from here. Judging by how UUP reacts at the upper Bollinger band, it’s run up about all it’s going to go this time around.
Barring any major economic news (missle off Cali, Chinese dumping dollars, etc) the Dow & metals should resume it’s uptrend along with a dollar collapse.
Isn’t it weird how a selloff seems twice as bad when you have positions on that are going down?
Don’t pay attention to those 2 huge red candlesticks….they’re only a illusion.
