Gold and Silver: Testing former resistance.

One of the axioms of Technical Analysis is that once a resistance is broken through, the former resistance becomes a new support level. And one of the more significant breakthroughs is the breeching of the 200 DMA. So, here is an early test of the breakthrough of the 200 DMA for Gold and Silver.

And here is the test for Silver:

In the case of Gold, the 200 DMA was tested and the price bounced off the 200 DMA. In the case of Silver, the test occurred above the 200 DMA. These early tests suggest that PM prices will continue to rise, especially silver.

Zinc is also forecast to rise. Since, silver miners also produce Zinc, such stocks will rise even faster.