Jonathan Mergott: Gold And Silver Update

I’m gonna try to do this quickly and just make notes on a bunch of charts regarding where things stand.

First, silver.  I posted this on Twitter earlier and said, all the smash after #silversqueeze has done is make a bigger cup and handle.  As GV pointed out, its a cup and handle in another cup and handle.  Price is currently just above 26, which is half way between the low at 22 and the highs at 30.  Nothing to see here.  Still looks great.  In the event of a selloff from here, I would say the most we will likely see down is to around 24.

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