The gold price action on Friday was solid as any move to block it was brushed aside and there was no attempt on $1300 which means to me that will come this week,probably during Asian trading on Monday.
Silver is a concern as it is well overcooked on the daily and moving to overcooked on the weekly.
XAU is seriously overcooked on the weekly and overcooked on the daily as is the HUI,GDXJ and GDX.
To look at a couple of stocks that became seriously overbought and spent time consolidating their gains take RMS which hit its high in early march and is only now looking to join the party.
BLK is another that hit its high in early march and is also looking to join the party only now.
An example of a stock that is overcooked is RSG.Anyone buying this stock after tomorrow is risking it for a biscuit.
Early next week looks to be good but this thing needs a rest.
On a risk reward basis things are beginning to look a bit stretched.
