Gold ETF Moves Further Above 200-Day Average.
Silver ETF Hits 3 Month High.
Great news today from John Murphy. Writing from StockCharts.com, John says—
“Both precious metals are having a strong day and moving above some short-term resistance levels. Chart 1 shows the Gold Shares SPDR (GLD) rising more than 1% today to reach the highest level in a month. It’s also trading back above its blue 50-day average and further above its 200-day line.”
SILVER MAY BE BREAKING OUT…
When precious metals are rising, silver usually leads gold higher. And it appears to be doing that today. John Murphy goes on to report—
“Chart 2 shows the Silver iShares (SLV) trading above its early November high and reaching the highest level in three months. If that upside breakout holds, that could be an even stronger sign that the correction in precious metals may be ending.”
Chart courtesy of StockCharts.com
StockCharts.com is an excellent site we use to follow the Stock markets, Gold Markets and Silver Markets. Much of the information is free. If you subscribe, you’ll also get John Murphy’s daily insights complete with graphs and charts as you see here.