The above chart is that of Gold in hourly. After touching the $1800 level, Gold is having a reaction. But obvious. Now we have to wait and see when this reaction ends since this is a buying opportunity. GOLD REMAINS A BULL.
Silver charts are little less chery compared to the Gold. We remain long term bull in Silver as well, the fact remains that it had a wonderful run up and then fall down hence will take lot more time to digest the energy spent and gathered.
One thing to note is that emerging markets like India topped in November - Hence they have become the leading indicators compared to Dr. Copper. Hence should be included in the dashboard of daily analysis.
Heres a chart WTD. Gold is but natural mover in this situation. The thing of significance is that Natural gas had a great week and needs to be watched of the possible bottoming formation it would be making in the charts.
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