Silver & Gold: noted support holds for time being.

I noted yesterday that major support levels were just below current price for both Silver and Gold. Both metals have flirted with these levels overnight but are back trading just above these respective support zones.

Silver: the $15 is key support here and Silver dipped down near this overnight but is managing to hold above for the time being. Any weekly close below this level would be very bearish though and suggest a trip down to near $8 (as per notes from yesterday):


Gold: the 61.8% fib of the 2008-2011 bull run is down near the $1,145 level and is strong support. Price dipped below this overnight but is back just above $1,145 as I type. As for Silver, any weekly close below this level would be bearish and would suggest a move down to $1,000 and then $945 (as per notes from yesterday).