Well, here we go and let’s see how this reacts around 1,300. I called this post Rocket Man because of the nature of the move in Gold, but also because it’s the first song that comes to mind when I look at this chart. My target areas look like moons, but what the hell.
Silver is going along for the ride and will probably see resistance at 21 where its last top formed. What’s interesting is this move so far this AM is happening without a dollar decline. If and when the dollar continues its decline, this move could be historic.
Trade the extremes and manage risk!
Oh, and here’s the song…..