It was on a Sunday night, if I recall correctly, that the recent Silver parabolic peaked. I awoke in the morning and was in disbelief when I looked at the real time silver futures chart and the True Strength Index (TSI) indicator readings.
For better or worse, gold looks to be skating on thin ice - and on a Sunday evening, no less. I know it's been a cat with nine lives and this could just be it's use of life number seven, but it could also be life number nine.
Here is a very recent 4 hour chart of the Gold Continuous Contract (/GC). Even as I type this the red candle is getting a little bigger and brighter as the TSI is now beginning to pierce through its trend line. Then buyers come in and just barely keep the trend line from being broken. The situation looks precarious.
Whatever happens, from my vantage point it appears as if gold is skating on thin ice.