Gold & Silver Coiling As Risk Comes Off

Italian PM Renzi has resigned on the result of the referendum. There has not been much reaction in market futures or precious metals at this stage. Gold and silver are at very key levels. Lets have a look at what we might expect in a potential risk-off trade.

gold-silver

UVXY daily VIX volatility ETF gave an entry on my template on Friday. Looking for a followup when this week.

uvxy-temp

On daily UVXY we can see that price spiked sharply above the kumo in the first week of 2016. This tipped me off to my best January ever.

uvxy

We can see that precious metals rallied very strongly for the first half of 2016. SLV daily is on a key support level.

slv

SIL daily silver miners ETF is on key Fibo support.

sil

Silver daily in $USD is on key Fibo support.

silver

GDX daily gold miners is on key Fibo support.

gdx

IAU weekly on key Fibo support.

iau

GLD weekly is on the falt bottom kumo support.

gld

Gold daily in $USD is on key Fibo support.

gold

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