In order for gold and silver to maintain their Stage 2 breakouts they should not violate the resistance level they broke out through, which should now act as support. For GLD this level is around 128 and for SLV it is around 15.
Interestingly these levels are also significant for the last 3 years for both GLD and SLV with multiple tests of both levels so a break of support will be even more bearish from a longer term perspective if it occurs.
Disclosure: I am long SLV and GLD.
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