Gold set to resume the bull trend

From the February 20, 1005 highs, gold has fallen sharply, resulting in eight consecutive days of lower closes. Since the start of the secular bull market in 1999, such a run has occurred on three occasions. Each time it marked the end of the decline, immediately preceding a move higher over the subsequent weeks. With daily momentum oscillators pushing oversold for the first time since January and a confluence of support between 898/882 (50-day average, trendline and 38.2% retracement), odds favor a return of the uptrend and a retest of the year-to-date highs and beyond.

comment:
COTS structure aside, silver should follow the direction of gold. We will still have to find a way to shake the effects of the paper banks to realize silver's potential.