It looks like the precious metals are gaining some momentum.
Gold futures put in an ellipse trading buy signal and we see a potential move up to 2037 over the near-term.
We also see a similar trading buy setup in silver futures. The uptrend off the September 2022 low remains intact and the recent short-term pullback created an ellipse buy setup. We get a MOB price target near the upper end of the regression trend channel at $27.
Futures charts for each precious metal are below.
Gold Futures Chart
Silver Futures Chart
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The author or his firm have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
