 CHARTWORKS
- APR 8, 2010
A Short Pause Would be Good in Gold and Silver
Bob Hoye
Institutional Advisors
Posted Apr 12, 2010
Now that gold has rallied ten trading days from the March 24th bottom and the Silver/Gold ratio has turned we would anticipate a short pause of four to nine trading days before staging the advance into new highs. I prices top right here ($1152) then a test of $1125 would present an attractive buying level. If there is a pop in the next day or two into the key resistance level around $1182 then the correction should be limited to $1140.
The junior miners ETFs (GDXJ & ZJG.TO) continue to do well. Any 50% correction of the rally from the March 25th low could be bought.
(Click on image to enlarge)
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Apr 8, 2010
-Bob Hoye
Institutional Advisors
email: bobhoye@institutionaladvisors.com
website: www.institutionaladvisors.com
Hoye Archives
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