Gold was in news off lately almost on hourly basis given its rapid advance to new highs. After touching a dew points above $1900 it corrected. The manner in which indicators are positioned enable Gold to take breather and correct for few days. Whats to be noted is that this correction should be used to accumulate GOLD not sell or short it. Its a bull market in the Asset and hence should be traded accordingly.
Silver is correcting as well, and as far as indicators are not in agreement with each other, we will continue to have the corrective phase - most probably a sideways basing action. Like Gold, the correction is happening at low volumes.
The US markets after being oversold in all the TF are staging a rally. Its a sell on rise and typical of bear market rallies is occuring at low volumes. 50MA is 1259 and hence we can reach that level possibly this or next week.
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