Precious metals were hit quite hard after Thursday's FED minutes and followed through today as members hinted that QE may taper off sometime this year. However, right now we are in an area where probabilistic opportunity may exist despite the trend being down. Any further downside under $158 would break support, but a bounce up to $164 looks possible and certainly would be resistance and anything above that would indicate the bull is still very much alive for the intermediate term.
Another Friday, Another Inflection Point
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Well SPX has finally retraced over the last couple of days, and the
bull/bear line that I'm talking about on the video is rising support from
the April low...
12 minutes ago