By Patrick MontesDeOca
The gold and silver market have met all expectations for a major bottom to take place towards the late part of December 2013. The spiked lows and the subsequent rally to the target and resistance zones published on Seeking Alpha have fulfilled our multi-year downside objectives preparing the market for a multi-year rally that could last until July 15, 2016.
The action in the silver market that lead to the bearish sentiment last week is increasing the possibility that the lows of 18.97 made on January 30 potentially was the capitulation and completion of the long-term downside objectives. This confirms that silver and gold could ultimately extend this rally into the late February time frame as published previously.
The gold market came down to the bottom of the range projected by The VC Price Momentum Indicator. “Cover short on corrections at the 1242 to 1231 levels.”
On January 26, I also made the following comments, “Since then we have seen a test of the 1181.4 low on December 31, and rallied to the high we saw last week of 1273.2. This validates the probabilities that the expected bottom has taken place. Any corrections towards the 1241 to 1215 price should be used to add to your long positions.”
After making a second attempt to break above the 1273.2 resistance level, the yellow metal made a new high of 1279.8 before correcting to the lower end of the price range and subsequently triggering a Buy signal at 1241 for the February futures contract.
Are low prices for gold and silver creating a shortage of physical supply
read more @ http://www.investing.com/analysis/prepare-for-a-shortage-of-physical-gold-201095
MAKE SURE YOU GET PHYSICAL SILVER IN YOUR OWN POSSESSION. Don't Buy SLV, or Futures or Pooled Accounts or any other BS paper silver product .Remember anything on paper is worth the paper it is written on. Go Long Stay long the bull market have even started yet