The adventure in metals continues, Gold, Silver and Platinum could not take out resistance, now it looks headed to support. The technical patterns remain in place, metals continue to consolidate moving up and down failing to take out resistance or support.

Thursday saw Gold, Silver and Platinum get hammered. All three tested support and bounced. This morning they are higher which is expected based on the pattern and price action. Remember, patterns repeat until they breakout one way or the other and start to trend.

The pattern in all metals is consolidation within a downtrend. Which means we are short and until the tops of this pattern can be taken out, we will stay short. Do not be fooled by news, the FED or anything else. Price action is the only thing that matters.

Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits


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Recording from Saturday

Hedging Recording from Saturday October 17th