Gold and Silver Update

 Both Gold and Silver Closed up a bit yesterday, Gold closed up 5 dollars to $1457.70 Silver rose 20 cents to $39.38. The open interest in Gold was up a huge 20,941 contracts and in Silver it rose again by 1745 contracts. These are HUGE numbers.

As you have read in my previous posts, I believe Gold breakout leads to 1520-1540 in the short term (Resistance was at 1440, is now SUPPORT).

For Silver we have resistance at 40 and major support at 38.20.

LONG: PM SILVER, buying any dip! 
Trading around: AGQ (40% position right now) time to get defensive. It could drop 30 points very quickly, will re-enter around that 38.2 spot level