Gold & Silver Prices At Critical Juncture

Gold is showing some strength in recent weeks. Here we see that price has pushed above the upper median line of the bearish Andrews pitchfork.This is encouraging but price now has to deal with significant resistance in the $1160-1170 area.

gold_price_11_oct_2015

Silver is also showing strength but has reached a significant resistance level. Before we get too excited about a new rally, price needs to push above the upper median line of this regular-Schiff pitchfork and the 38.2% Fibonacci extension level.

silver_price_11_oct_2015

The mining stocks are behaving quite nicely. My favorites currently are GORO and AG. AG has been basing in the $2.80-4.00 range for two months and may be about to break above the $4 level. GORO has been basing in the $2.00-3.00 range. If you are looking to add some mining stocks to your portfolio give these a look.

 

By Bryan from pitchforkplayground.com

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