Gold Recovers Above $1900 per Ounce

While there is not really anything Bullish on the charts, it does appear that at least for now, the Bears may have gone back to sleep.

What can we see on the chart?

Gold is well within the Bollinger Bands, above the 100 day moving average and below the 18 day moving average.

So what does that mean?

For the Bulls the target is the 18 day moving average. Support is at the 100 day moving average and the lower Bollinger band.

The silver chart looks exactly the same as gold.

Ditto for the miners!

Someday, in the rear view mirror where everything is clear, we will decide if an important bottom is in for the precious metals.

Until the 20/20 vision of time, at least for me, caution remains the word of the day.

Peace out and stack on!