It's been an interesting weekend with the war drums banging again on Friday, then a de-escalation during the weekend as it seemed little damage was done. We are not out of the woods yet though. Israel took it upon themselves to bomb Iranians in Syria, so it seems like something is going to blow up at some point, just not quite yet.
However, looking at the gold and silver markets for some indication of when this might happen we see that both gold and silver are consolidating and both must resolve by early May.
The wedge formation has approximately 3 weeks left before it must break up or down, or it could break at any time before.
Silver has a slightly different pattern, but the consolidation timing is exactly the same. It must resolve before 1st week in May.
And so the consolidation drags on until it doesn't but we are getting very close now. It remains my belief that we break to the upside based on geo-political and technical analysis, and if we do the likelihood is that it will be a powerful break as gold must finally break 1360, which has acted has resistance for many months. Once it does, all hell will break loose.
For disclosure, I'm not a professional financial advisor and this is not investment advice, merely my own observations of the market and indexes, so do your own research.
