Here is a look at double bottoms plus gold and silver price targets.
Gold & Silver Double Bottoms
September 10 (King World News) – Top Citi analyst Tom Fitzpatrick: The patterns on Gold and Silver are increasingly looking like bullish triangles with double bottoms suggesting that the next impulsive rally is likely to be higher. (See charts below).
GOLD & SILVER BULLISH TRIANGLES:
Next Move Should Be Higher
Gold Price Target
Appears to be forming a firm base now at $1,902 and testing the triangle top around $1,962. Above here there is a double bottom neckline at $1,992 with a break suggesting a re-test of the all time high at $2,070. An additional double bottom neckline at $2,015, if broken, suggest a move towards $2,125-$2,130.
Silver Price Target
A similar pattern exists here with the top of the triangle around $28.52 and a double bottom neckline at $28.90. A break of that latter level would suggest a move towards $32.
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