Gold and Silver are in downtrends; every rally attempt has been weak. This includes Gold’s 20.00 plus rally on Wednesday. Silver is the worst of all and looks to have no bottom.
Here are a couple of must hold levels for the metals: December Gold 1720-1725, and December Silver 22.50 -22.75. If those levels fail, the downtrend could accelerate. We don’t predict past the levels we can see, but knowing where the battleground is usually helps for many.
Platinum appears to have seen the bottoms and is starting to move higher. The Blow-off action Sunday night/Monday morning has created the reversal and Platinum looks to be a great investing value. Platinum seems to be on sale but remember things may not always be as they appear. We did buy more physical.
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.
Todd Horwitz Chief Strategist BubbaTrading.com
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