Crazy overnight action in thin liquidity lacking markets. Gold, Silver and Platinum get crushed early, Gold was down 65.00 with a lower of 1677 overnight, Silver over 1.00 at 22.95 and Platinum down 18 at 953.00. These are all the characteristics of a panic bottom.
Although we are now short Gold, reversing today, Silver and Platinum the price action suggests the lows could now be in. The rally we are seeing now with recovering at least half of their losses. We will not be changing from the short side but can see a higher close today; tells us the lows could be in.
Market patterns tell many stories, the overnight price action suggest lows could be in. One concern is the light volume and the illiquidity of overnight trading, but the pattern is the pattern. This is a great time to observe patiently and let markets show you the way.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way. Guessing the next move is a fool’s game.