posted on
Feb 02, 2011 10:16PM
Nice indeed...if that 2.5 year channel holds, as gold is riding the support line, a gradual rise in the price of gold from this point could easily project upwards in the neighborhood of $2000/oz possibly before touching the resistance line of the channel in the much anticipated next rally. That would definitely coincide with Eric Sprott's forecast of $2150 in his recent interview with KWN. He also presaged a $50/oz silver sometime this year which would equate lockstep with a 40:1 gold/silver ratio. Sucks to be a short.