The dominant chart construction in Gold continues to be the possibility of an inverted H&S bottom pattern on the weekly and monthly graphs. Note: Some of you might have read that Ray Dalio (Bridgewater) is accumulating a sizable position in GLD. I believe Dalio will be right, but that he is early. See http://www.zerohedge.com/news/2017-11-13/ray-dalio-goes-gold-buying-spree-adds-575-gld-holdings-becomes-8th-largest-holder
I have written extensively about the possibility of a Q1 low at or just above 1200. The daily chart displays a possible continuation descending triangle. Depending upon how/time of day this pattern is completed I may be willing to take a shot at the short side.
SILJ – Jr. Silver MinerETF chart hasbroken down
The weekly chart of PureFunds ISE Junior Miners (SILJ) displays a completed 14-month descending triangle. Factor is short with a target at 6.41
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