Consolidation Patterns in Gold & Silver Appear to be Ending

Both gold and silver find themselves caught in consolidation/flag patterns in the chart below, formed by their respective lines (1) and (2).

Both currently sit on line (2) support.

We aren’t suggesting which direction they’re apt to turn in next (those are for pass-word protected posts and private email correspondence), but needless to say, they’ve both endured some volatile rides since peaking in 2011 and that whenever their respective consolidation periods end, the next moves could be material ones.

2013-01-03 Gold & Silver - Weekly