August 2, 2011, at 11:10 am
by Dan Norcini in the category Trader Dan Norcini |
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by Dan Norcini in the category Trader Dan Norcini |
Print This Post | Email This PostCheck out Trader Dan’s blog at www.TraderDan.net for more commentary.
Dear CIGAs,
Since late 2008, gold has been rising in a strong and steady fashion within the confines of a channel that I have marked out on the weekly price chart. As mentioned previously, its rise has been orderly and solid unlike silver which burned itself out by rising too quickly at one point earlier this year and is just now attempting to re-establish a solid uptrend.
Since the year 2011 has begun, a new and steeper price channel appears to be forming as the fundamental factors that have driven the metal onto new record highs show no sign of ameliorationg; if anything they are growing worse.
