The posted gold chart shows a time square projected from a couple of important swing points. Gold and especially silver are getting overdone with sentiment getting extreme on the bullish side in some readings. I also have some time projections pointing to 4/27/11 and 5/12/11. So I don't know if this 4/11 time square is significant, but the metals are due for meaningful retracement. Whether it's done with the advance yet or not, my analysis suggests important cycle lows are due sometime between mid June and early July 2011. Don't know if it will happen, but would like to see lows in silver somewhere between 20 and 28 in that timeframe.
Kim Rice 4/11/11
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