While Gold is stuck in consolidation and churning around the 1800 August futures level. The overall pattern continues to suggest higher prices are coming, although some will make the case for Gold to breakdown from here. The bottom line is simple, Gold goes higher until it doesn’t.
Silver is like Gold with a slightly stronger bias to the upside. The key support level in September Silver futures are 19.00 – 19.20 which we consider to be major support. We never know when the pattern will reverse, but for now the rally should continue.
After last week’s spike in Platinum, it has resumed the downtrend. Platinum is trending down and should test 800 October futures. The key to successful trading and investing is recognizing trends and price action. Unfortunately, too many investors would rather be right than make money. Learn to profit and quit trying to be a prophet.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
Saturday Micro Mini Recording: Saturday did a great webinar on our micro mini futures portfolio models. I have attached the recording for your viewing pleasure.