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Here is what Fitzpatrick had to say: Gold:  “A weekly close above this range (in gold) would open up the way for a test of the pivotal double bottom neckline at $1,434 (see chart below)....


Continue reading the Tom Fitzpatrick piece below...




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A weekly close above this latter level would complete the double bottom and suggest extended gains towards $1,680-1,685 (see chart above).


Such a move would take us back above both the 200 week moving average at $1,493 and the horizontal resistance (previously support) from 2011-2012 at $1,523-1,527.


Such a move, if seen, would strongly suggest that the corrective low is in (at $1,182) and that a re-test of the all-time highs at $1,921 and beyond is highly likely. (This would represent a staggering $570 surge in gold)


Silver


Good trend line and 55 week moving average resistance in the $22.12-22.30 range has held so far here.  In fact, last week Silver actually posted a bearish outside week off this resistance, which is a little concerning (see chart below).




We do need to see a weekly close above this range to re-establish the upward potential and suggest a test of the double bottom neckline at $25.10.


A weekly close above that latter level, if seen, would suggest a Silver price above $31 (see chart above).


Ahead of this interim resistance is met at $26.08-26.17 (Horizontal resistance at prior 2011-2012 support
levels) and then $28.25 (200 week moving average).”


IMPORTANT - KWN has many more interviews being released today.


© 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 This material may not be published, broadcast, rewritten, or redistributed.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 Egon von Greyerz, Dr. Paul Craig Roberts, Grant Williams, Andrew Maguire, Andrew Huszar, Michael Pento, Art Cashin, Rick Rule, David Stockman, John Mauldin, Eric Sprott 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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