Here are updated hourly charts showing pit and electronic trading in February gold and March silver futures.
Both markets have surprised me by rallying more than I expected. Even so, this strong rally has brought gold to resistance near 536 which is 2 and 1/8 times the bear market low price at 252.5o. Similarly silver has rallied to the 921 level which is 2 and 5/8 time the bear market low price of 351. These are both strong resistance levels and I expect both markets to turn lower here and then to break their December low points.
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