In looking over this intermediate term chart, and surveying its current bear market, I have noticed that since its peak near $1900 some three years ago, the metal has only ONCE managed to CLOSE out the week BELOW $1200. See the arrow…..
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjWlMerEbgEs-fhMKh_k3eFijGpM1HKTPyCdbqIIbpvShB-uazgj26cQHGwt1MNIEgsushjitPkYuq-OK4gAYh3_0nuTR_R_P0qwMQG2vIwKxLjR_I0s-B0CZeLeV9fDp8AQDBBWIOvDDzl/s640/Chart20141030093358.png)
The close this week will therefore be critical in determining whether or not we are going to be more downside follow through and another test of the key $1180 level or if we are going to sit and grind sideways for a while longer yet.
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