As we look for that elusive breakout…
Fresh off the heels of calling Tuesday’s rally early in the morning right here on SD , Half Dollar is getting worked up for a rally overnight. I had to bring him down to earth a little. He’s working on a Midweek Update that he said will be out tomorrow before the market opens.
In case you missed the call during the pre-market action, guest contributor Half Dollar threw up an unscheduled post that kind of put us on edge, with the boldness of his technicals, however, it looks like he nailed it:
This Tuesday morning, both gold & silver look bid. While we have not had much reason for excitement coming off of Friday, things look like they are shaping up for a Tuesday rally.
Half Dollar just sent over some of his technical work from this evening and he asked me to pass this on:
Silver looks very strong right now, gold pretty good too – they just broke resistance lines of $1270 and $16.50. I’m working on some Silver/Crude technicals that keep signaling a silver rally is imminent. I know technical analysis is a hard case to make with all the blatant metal smashing lately, and I don’t want to get my hopes up, but things are looking like they’re setting up for strength overnight. We’ll see if the metals have follow-through momentum to the upside, especially silver, cause its either gonna break out or break down.
Today was a lot more choppy than I thought. I wasn’t expecting the metals to get sold off so hard like they did this morning, but then again, right when we least expect it, BAM!
He shared this chart. We look forward to his analysis tomorrow right here at SD!