Precious metals appear to be setting up for another rally higher, with Gold and Silver consolidating recent gains.
I like the price action of both gold and silver as they have turned up from price support zones.
Gold and Silver futures are holding just above the trend lines so I still need to see the recent price lows hold to remain bullish.
Both Silver and Gold saw their oscillators near or drop below zero, which tends to indicate where pullbacks end (during bullish trends).
In any event, precious metals are volatile so we are using a stop at the trend line.
See the Silver and Gold futures charts below.
The author has a position in the mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
