Although gold and silver have yet to show much, if any, upside volatility amidst the Japan crisis, the patterns carved out during the past several sessions strongly suggest corrections are ending and new uplegs about to emerge.

Given the uncertain and chaotic environment in the financial markets, this move could be powerfully higher -- towards $1525 in gold and $40.00 in silver -- against a backdrop of a rising euro against the US dollar. ETF's that would be benefit include the SPDR Gold Shares (GLD) and iShares Silver Trust (SLV).

 

Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com.