Gold had a good day today rising $13.15 per ounce to close at $1745.35. The stochastic is once again in over bought territory. The Upper Bollinger band is resistance at $1759.95 and support is at the 18 day moving average at $1730.54.
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If Gold had a good day, silver had a great day rising 54 cents per ounce (2.20 %) to close around $25.39 per ounce. Silver closed just above the 18 day moving average which is a Neutral spot on the chart. The stochastic is rising which is bullish. IF silver can continue to rise resistance is at the upper Bollinger band at $26.43.
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The Miners continue to rally since the last LOW at $31.65 that came in on March 30th to close today at $34.57.
So what comes next for the MINERS?
Slow Down!!!!!!!!!!!
The stochastic is rising and the goal for the BULLS is the upper Bollinger Band at $35.16.
But what next? Only the market knows.
If you follow my missives on the precious metals then you may recall that I do pay attention to the Moon Cycles.
The last LOW on March 30th also happened to coincide with the Perigee of the Moon. Tomorrow, Wednesday April 14th, the Moon will be in Apogee.
So the question is will tomorrow (or Thursday) mark a HIGH for this rally?
I do not know the future BUT I do pay attention to the three day period around the MOON cycles to see if there will be a change in trend.
Back on March 17th, GDX hit a HIGH of $34.48. The next day, March 18th, the Moon cycle was in Apogee. Afterwards, GDX fell to $31.65 on March 30th, the day of Moon Perigee.
Does the Moon Cycle control the precious metals market? I have no definitive answer BUT it happens often enough that I do pay attention.
Peace out and Stack On!
Either way, I've got some dry powder on the side.
Chances are I'll buy as stock is available.
Spot + high premium prices seem irrelevant anymore.
It just shows what the Banksters are doing and Regulators are NOT doing.
Only Physical matters! Arrrh!
Posted Using LeoFinance Beta
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