Originally published on TheTechTrader.com.
Slope of Hope Blog Posts
Slope initially began as a blog, so this is where most of the website’s content resides. Here we have tens of thousands of posts dating back over a decade. These are listed in reverse chronological order. Click on any category icon below to see posts tagged with that particular subject, or click on a word in the category cloud on the right side of the screen for more specific choices.
Silver in the pre-market today climbed to new bull market highs at $34.52, while gold prices popped above a key 11-week resistance line off of its Dec 7 high at $1,431.70.
This bodes well for higher prices that propel gold — and the SPDR Gold Share (GLD) — to new highs in the upcoming hours/days. Meanwhile, silver and the iShares Silver Trust ETF (SLV) point towards upside continuation towards a confrontation with the upper trendline of its multi-month up-slanted price channel, now at $35.30 in spot silver. Only a decline that breaks $32.40/30 will begin to compromise the near term bullish scenario.
Also shown on the chart is the euro/dollar, which, although perched right off of its recent high at 1.3860, acts tired technically. However, it otherwise remains the beneficiary of a relatively weak U.S. dollar and strong German fundamentals, and barring a break of 1.3710, the uptrend should remain intact and head for 1.4000 next.
Originally published on MPTrader.com.