PPR - Awakening of precious metals?

Published : March 27 2013 at 14:24 ET

Precious metals ETFs GLD (gold) and SLV (silver) both look to have pocket pivots if GLD can trade at least 8,221,900 shares and SLV can close even or better. While GLD faces resistance from its 50- and 200-dmas, the overall structure for a pocket pivot is sound. One benefit is both are in basing patterns near their lows but one caveat is that both are still in soft downtrends within their basing pattern.

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