Joe Friday….Will QE3 cause Gold & Silver to break above channel resistance?

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Gold & Silver find themselves back at the top of their year long trading channels at (1) in the above charts.  Bullish sentiment levels in Silver has increased from 35% to 75% bulls.

Are enough investors/traders concerned about the effects of QE3 to hope on board the metals and take out these resistance levels?  Today's job report going to impact their decision process?

A breakout of this channel would reflect a good deal of concern from the metals traders about QE3!

 

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