Gold and Silver... again

Based on last night's movement, Gold has once again pushed up higher with its high of 1959 for Gold Futures. Looking at the GLD ETF that tracks Gold, it also moved up 0.76%. 

However Silver did not follow the uptrend and there's likely profit taking with a fall of -0.52% for Silver Futures and SLV ETF dropping 0.88%. 

Daily charts: Gold has been gapping up and Silver seems to be topping out or consolidating but likely more of topping out since its gap up from $17. 

Weekly charts: Looking at both GLD and SLV charts, it is already a parabolic move and it is likely the news will continue to talk about Gold and Silver which may draw retailers to push it higher while the big boys may take the opportunity to offload at the same time. 

Wait for pullbacks to identify support levels. Take real caution if you want to enter these two precious metals at this moment. 

GLD Daily

GLD Weekly

SLV Daily

SLV Weekly

Disclaimer: Whatever posted here is purely my personal view. It is not an inducement to trade and not responsible for any losses. Tips and News might just be rumors in the market. I take no responsibility for any gains or losses as a result of reading my analyses, judgement and opinions. Trade with care and diligence please!