I get annoyed at analysts who use charts to justify gold and silver action. We all know it is 100% pure manipulation. JP Morgan knows where 200 day moving averages are and pulls it under so these analysts can say that we breeched the 200 day m.a. and its all downhill from here. Prognosticators like Gartman, Clive Maund and Edelson get advance notice that G&S are being taken down so they can forecast it and look good to their readers. Currently Edelson is saying gold could go as low as 1200. They all maintain that gold is a long term bull market but play the cartels game by calling for a major pull back when the Cartel starts to manipulate. The CFTC gave JP Morgan another 60 days to cover its shorts and I note that the Boyz have been taking gold out of the GLD fund to use in the short selling pull down. I guess they don't have to take silver out of the SLV fund because nobody covers any short selling in silver with anything but paper.

G&S will go up only when JP Morgan is ready to start covering some shorts. Maybe this will happen at $28.00 or maybe at $26.00. Only they know right now and its not looking good for today.