A spike in the price of silver will be the key to unleashing gold price targets of $1,645 and $2,200+.
Silver Linings Playbook
August 21 (King World News) – Top Citi analyst Tom Fitzpatrick: “Double bottom looks to be forming with a neckline at $21.14. A break above, if seen, would suggest a move to at least $28.50 (see chart below).
SILVER: Break Of $21.14 Triggers $28.50 Target
Good support is met in the near term around $16.10-16.20 and would likely contain any correction. A break over $17.51 trend line resistance should open up the way for the double bottom neckline to be tested…
To listen to Doug Casey’s just-released KWN interview discussing his prediction of financial and economic chaos and a panic into gold CLICK HERE OR BELOW:
Top Citi analyst Tom Fitzpatrick continues: “The 55-200 day moving average gap was closed here and good support in the 86.06-86.45 has held so far on this ratio. The 55 week moving average on this ratio stands at 85.50 which, if broken, suggests a move towards the 200 week moving average around 78 (see chart below).
If Gold/Silver Ratio Breaks 85.50 It Triggers 78 Target
Unleashing Gold Price Targets Of $1,645 And $2,200+
If this ratio was hit with Silver at the $21.14 neckline it would put Gold at $1,645 and at the $28.50 double target it would put Gold at $2,200+.”
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In the meantime, other important releases…
Quote Of The Week CLICK HERE TO READ
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After Pullback, Here Is Where Things Stand In The Gold Market CLICK HERE TO READ
James Turk – We May See A Squeeze In The Silver Market Next Week CLICK HERE TO READ
KWN has released the powerful audio interview with Rick Rule where he discusses chaotic global markets and what investors need to be doing right now, plus what he expects next in major markets, including gold CLICK HERE OR ON THE IMAGE BELOW.
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