Hiya Trades!
Thanks for the great chart...
It is interesting that it seems most of the analysts are warning of a possible correction here in the metals...and I see evidence that this pullback could be almost over actually...because of the modified macd has not rolled over 'yet'....and we are still holding $34 actually and still consolidating near the highs after such an extremely overbought situation...
And have you seen the action in the open interest? Still climbing steadily into this consolidation....looks explosive...
I bought another call option early this am....
And you can throw the seasonals out the window...this is late 2012 and major cycles are coming to a head very soon...
I still think $42 is very possible by election day...only a month away! And we could test the $50 mark easily by the end of the year...
Anyhow if you have the time could you post an updated weekly chart? Thanks in advance...
Cheers!