Gold Has Started To Break Out Of It's Down Trend, Can It Hold Up Into Fridays Close?
The stock markets had a very solid session. Most charts shot higher after Apple beat estimates Tuesday night surging over 10%. This set the tone for stocks Wednesday. Also the FOMC said they would keep interest rates low until mid 2014 and projected a 2% inflation rate which took the market by surprise. Looking at the 10 minute intraday charts of gold, silver, oil, and the SP500 you would think it was the 4rth of July with everything shooting higher.
The Weekly Gold Chart:
The Weekly Silver Chart:
Mid-Week Trend Conclusion:
Source:
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