Warning: The coming washout in Gold and Silver is likely imminent.

Premiums are normal this morning....you can get silver eagles and maple leafs for

reply to post by CosmicCitizen

The market action yesterday (Friday the last trading day of June) looks like an intermediate bottom (sub $1200 for gold and plus $18 for silver). Technically we put in reversal bars in these metals markets but it is probably a wave 4 which implies a) a counter trend correction, b) a trading range off the lows and c) a probable headfake over the recent down trend line....and then a serious test and probable failure of the lows as the washout enters its final leg down. Reversals like this give hope to the bulls and force shorts to cover but delay the inevitable capitulation. In addition to the market hitting one of my levels (1300+/-, 1225~, 1150~, 1000++, 950, 850 or 700--) I would like to see concomitant capitulation by the bulls and the market being resistant to further sell offs on bearish news.