Some signals are beginning to reverse the hard downswing with Silver showing a better reversal pattern. Gold is not far behind but lagging Silver on the charts. Considering the last run up with silver if the bottom is in it is showing an more aggressive drop possibly in a very oversold position. Another rise could take place without much room for hesitation. It looks like a time to dollar cost average or wade in with a position.
The 50 MA has crossed over the 200 MA with Gold ( Goldencross ). With todays action it looks like the price wants to go back up to it putting in a temporary bottom. $1310.00 is a good possibility as that is where the 50 is presently. Both Gold and Silver are in a fairly well oversold position at this moment.
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