Gold continues its breath taking rise!
This is a chart showing the Bollinger Bands for COMEX gold. The Bollinger Bands are an algorithm that are designed to keep the price within its bands 98% of the time. Sometimes the market will close 2 or 3 days above the Bollinger Bands. Rarely will the market close 4 or 5 days above the upper band.
Gold has now closed above the upper Bollinger Band 7 days in a row.
Simply UNPRECEDENTED!
Silver seems to be taking a rest and deciding which way the market wants to go.
The Miners are not following gold but acting rather orderly. Notice how the miners closed above the Bollinger Band on Monday and have been pulling back to trade within the bands.
This is a picture perfect example of how the algorithm is designed to work!
Interesting times indeed!
Peace out and Stack On!