by Jordan Roy-Byrne, CMT
The Daily Gold
Gold broke-out last week on Brexit while Silver waited a week to join the party. The miners, meanwhile cleared 2014 resistance today. There are breakouts across the board in the precious metals space.
The weekly candle charts of Gold and Silver are plotted in the image below. Gold appears to have digested the Brexit pop well as it gained another 1.5% on the week to $1339. If it holds above monthly and quarterly resistance ($1330s) then it should be on its way to $1380-$1400. Meanwhile, Silver surged 9.9% on the week to $19.59. It has broken out from an inverse head and shoulders pattern to nearly a 2-year high. The pattern projects to a target of $22.