You would like to take position in Gold / Silver then doesn’t listen to what people are saying about the markets. Look at what the markets are saying as a reflection of people who are actually buying and selling. It is a much more reliable guide.
Look at above chart, the March month rally of Gold was very disappointed to buyers. If the gold will hit 50% (support: 27384) and show closes below it then we will certainly see 26140-24780 levels. But seller must keep his eyes open while it touches the support 27384 level because buyers will try to push the gold up. So I would recommend short term seller should start selling in bulk after crossover the 27384 level and meantime they can sell gold (for intraday trading) while it move down from volatile zone.
Buying opportunity will knock the door while gold stay above to volatile zone levels and it can break 28600-29000-29500+ levels!
Note: on my last newsletter, I’ve updated about crude oil, copper & lead targets. I’m very glad to inform those all commodities touched each targets. If you missed it then click here and check it now!