The Frightening “Stairway To Hell” Gold & Silver Are Climbing
August 29, 2013
To follow up on yesterday’s viral interview with King World News, today top Citi analyst Tom Fitzpatrick sent KWN 4 amazing gold, silver, and debt charts which helped to illustrate the massive 150% surge he is predicting for gold, and the enormous up-move in silver he has called for as well. Below are his 4 astonishing charts & commentary.
Fitzpatrick: “The move lower in Silver was more aggressive than that seen in Gold. In fact, in both the trending moves higher and corrections lower, Silver has tended to move more than Gold. As a consequence we would expect that Silver may well outperform on this next move up. Good resistance is met at the prior breakdown point ($26-$26.40) and above here just below $28 (55-and-200-week moving averages).
Above this latter resistance would suggest that Silver could accelerate further within this move with the next good resistance levels at $35-37; 50; $37.50; $44.20 and ultimately close to $50.