Monday, 25 July 2011

Gold and Silver move higher


Daily candlestick chart for Gold. Zooming in to the past 3 months of trading, to illustrate how well the topmost parallel channel line supported prices last week. The market probed the line four days in a row, but never closed below it. Click here to see a longer term view through to Friday's close. Past upwards breaks through earlier parallel trend lines generally saw Gold surge higher.

Now let's look at Silver.

Silver is testing the topmost trading channel line, drawn parallel to the trend line formed from the May, June and July lows.