Gary Savage explains how market sentiment translates into trending moves on the chart. He says silver has reached the ballistic phase of an intermediate rally, and retail traders will start piling in.
Once through $2,700 successfully, $2,800 is next for gold. Targets are up to $3,050. Many are stating considerably higher targets, except at this stage there is little evidence to support that.
Lofty gold prices are generating huge record earnings for the miners, so gold stocks need to mean revert way higher. Herd psychology shifting to bullish will fuel that.
