Noonan: Charts Suggest Trend For Gold Is UP & Sideways For Silver

…You can be 100% assured that acquiring both or either metal is the smartest move one can make to escape the certainty of the Western world financial calamity that is destined to follow…Keep buying as much gold and silver as possible, and we continue to prefer silver over gold, for now..  

The comments above and below are excerpts from an article by Michael Noonan (EdgeTraderPlus.com) which has been edited ([ ]) and abridged (…) to provide a faster and easier read.

Gold: Weekly Chart

…Right now, the weekly trend is up, and it takes greater effort to change a trend…

Gold: Daily Chart

Even though the daily chart below is more sensitive than the weekly…the trend is labored, but continues to work higher.

Silver: Weekly Chart

The vertical heavy line [in the chart below] depicts the rally from November 2015 to the last swing high in order to put the last six-week corrective activity into context.  The correction has been relatively weak.  It may not be over, and if the elites have any say it will continue, if not down, then at least sideways.  Patience is the obvious watchword.

Silver: Daily Chart

The bane of all traders, irrespective of their intent, as in short-term or longer term, is a sideways moving market. Odds favor an eventual breakout to the upside, but a push for a retest just under the 19.20 area, first, is a possibility, and it would not do anything to alter the current structure of the chart.

Conclusion

• [The answer to the question] “When will things fall apart and PMs rally?” remains unknown.  For sure, we are closer with each passing month, but the staying power of the globalists over the masses has been amply proven.  
• “Is the 4th Qtr. of 2016 going to be a time triggering event?” The charts do not appear to support that expectation but this does not mean a massive move cannot take place between now and year-end.
• Anything can happen, [so it’s] better to be a year too soon than a day too late.  Staying vigilant is being prepared.

Disclosure: The above article has been edited ([ ]) and abridged (…) by the editorial team at munKNEE.com (Your Key to Making Money!) to provide a fast and easy read.

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