The Gold rush has begun with a weekly breakout. The next major levels to watch are 1880-1900 December Gold futures. The buying has been on volume giving two weeks of higher prices and higher volume. A pullback to 1840 would be no surprise but it would be a buying opportunity.
Silver looks very similar to Gold and could launch farther and faster. There is no way to know for sure however; the next resistance is 26.00 December Silver futures. The slow grind from 22.00 has the prospects solid for a move to 26 and beyond.
Platinum is like Gold and Silver, with 1160 January Platinum futures as the next big level. Remember, there are no guarantees that the rally will last but I’m happy we are long. The markets have been strong as they push higher.
In all markets price action determines what will happen in the next day, week or months. Keep the two strategies separate, the worst trade anyone can make is turning a trade into an investment hoping for a way out. Traders must learn to take their losses and move on to the next trade.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
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