Gold is back in the $1,780's! A level that was last scene back in April. What makes this rather extraordinary is that we are in the week season for gold.
Do we break out here or do we get some consolidation here?
The technical chart shows that the futures contract price is just above the Bollinger band.
The stochastic is in overbought territory for the second day. If the stochastic can lock in tomorrow, we might get an embedded reading so that gold will continue its run.
We shall see what tomorrow holds.
Silver ends solidly above $18.
The technical chart really shows how silver has entered into a tight range as the Bollinger bands are parallel.
Big moves come from tight ranges. The trick is figure out which direction that move will be.
The miners had a good day and closed right at the Bollinger band top. There is a"gap on the chart at $33.84 from last Friday's high. The market often will fill the gap at some point.
This is suspenseful!
Will gold break out to the upside?
Will the miners run or will the gap get filled?
Peace out and stack on!