GOLD and NEM - Market Analysis for Apr 13th, 2020

While I do not track them unless I have a need to due to the lack of clarity in the GDX chart, once we broke out over the resistances noted last week, there is no bearish bias I maintain in these charts unless we see a break back below those break out levels.  So, while I still think it is reasonable to expect a pullback in silver, as long as these two charts remain over their break out points, I will continue to look higher in the coming months.

GOLD
GOLD
NEM
NEM
Avi Gilburt is founder of ElliottWaveTrader.net.