Precious Metals ‘Bounce’ Targets

This post is not a call to action because all of our orientations are different.  For example, a trader would have played the bounce.  An investor – especially in light of improving fundamentals – would probably be accumulating on the down days and weeks.

That said, I wanted to note to you that all items have now reached the original ‘bounce’ targets, with gold hitting 1140 this morning (1145 as I write).  This joins silver, which had previously registered the 15.50 target and HUI, which hit 130 this morning, just below the 50 day moving averages.

For sure, the sector can go higher.  But this post simply notes that initial bounce parameters are in the books.  What to do with that information is up to individuals.