as the world rushes to the dollar and the US bonds, it should be positive for the alternative currencies, the precious metals. The industrial metals are logically down reflecting the china “slowdown” worries.
Platinum and Palladium have sell signals. Perhaps an early reflection of China slowing, Copper has been in the sell mode from 3.51, next target 2.964.
silver triggered a long term buy at 17.40 to 20.18, but the daily is showing significant pressures down thru the 11th.
Gold
Long term –
while still in the long term down move the retracement up has reached a long term target and is consolidating. next target up is 1228.71.
Daily –
in the move up from 1145 and reached the 1189.60 target. the retracement begun today at 1176 could take us to 1153 then 1130.