Monday was an ugly day in metals, especially Gold. It was apparent early that gold was in for a long day and had little chance of going higher. Of course, that was exactly how Gold traded, down all day trading in a range at the lower end.

This morning is a completely different story, gold is up 16.00 based on the February futures which is the mirror image of Monday. We are long and expect a rally, however since we became buyers about a week ago, gold has struggled. We will stay long because our positions are determined by our Algorithm.

Silver continues to churn in a tight range, we are short but close to reversing. We will not act early as we wait for confirmation, but it does look like the bottoms are in. Silver has been in more of a consolidation range than anything else and a big move is expected, at this point we expect lower based on our position but would not be surprised if it were higher.

We are long Platinum, and the trading action has been bullish right down to the small pullbacks we have seen the last few days. We look at dips in an uptrend as buying opportunities. For now, we are buyers on dips in Gold and Platinum. Silver we are short but will not be aggressive as it looks very close to changing. 

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


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