With action in the gold and silver markets heating up, today top Citi analyst Tom Fitzpatrick sent King World News four incredibly important charts which show that gold, silver, platinum, and copper are now set for stunning advances.
An important break seems to have been confirmed on Copper. The weekly close above the trend line and 55 week moving average now suggests we could be on course to test the 200 week moving average at $7,927.
Platinum closed above horizontal levels at the end of last week and now likely to test the double bottom neckline and trend resistance at $1,554-74. A weekly close above there would point towards a test of $1,792 which is 18% above current levels.
Gold is also breaking higher through resistance around $1331-$1334 and a weekly close above there opens the way initially towards $1392 (2014 high) and then $1433 (August 2013 high).
Gold has already decisively broken through the long-term trend line and 55 week moving average. The 55-200 week moving average gap dynamic suggest a test of the 200 week moving average at $1500 can be seen.
Silver has already decisively crossed the long-term trend line and the 55 week moving average. A break above $22.18 (2014 high) confirms a double bottom which would then target $25.60.
Source King World News
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