Gold: The Bear Case...

If I were to try to make the bear case for precious metals, I'd have to point to these two charts as presenting the strongest arguments.



Comments: A bullish wedge with the RSI not confirming the recent downward price action. It looks like it is setting up to rally to the $86 to $88 area--if it can break out of the wedge. There is resistance between $82.5 and $84.



Comments: Silver looks VERY weak right now. MACD looks like it wants to roll over.

Coming to think of it, the HUI chart isn't looking all that swell right now either.