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Here is what Fitzpatrick had to say: Gold:  The rally through the 200-day moving average opens the way for a move to $1,361.  Beyond that, we believe a rally to $1,434 is in the cards....


Continue reading the Tom Fitzpatrick piece below...




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The higher highs on gold and the rally through the 200-day moving average (not shown here) strongly suggests that a test of $1,361 - $1,365 is likely in the near-term.  This is where the high from October 2013 and the 55-week moving average converge.




A break above there ($1,365) opens the way for higher levels which are listed below:


$1,434 - the August 2013 high and double bottom neckline


$1,491 - 200-week moving average


$1,686 - the double bottom target


Silver:  The break above converged levels at $20.60 and the 200-day moving average ($21.04) is a bullish break.  The triple bottom targets of $22.02 - $22.30 and the next level of resistance is at $23.08.


Silver has rallied through the horizontal levels and triple bottom neckline around $20.60 as well as the 200-day moving average.


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The target for this setup is very much in sight at $22.30 and resistance above there is at $23.08.


The medium-term double bottom neckline is at $25.10 which should also eventually be tested.


King World News note:  Even though there will be some pullbacks along the way, there are now strong magnets in place which are attracting gold and silver prices to much higher levels.


IMPORTANT - KWN will be releasing interviews all day today.


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© 2014 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The audio interviews with Art Cashin, Rick Rule, David Stockman, John Mauldin, Eric Sprott, Bill Fleckenstein, Egon von Greyerz, Dr. Paul Craig Roberts, MEP Nigel Farage, James Dines, Gerald Celente and Dr. Marc Faber are available now. Other recent KWN interviews include Jim Grant and Felix Zulauf -- to listen CLICK HERE.


Eric King

KingWorldNews.com

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