Gold reversed to short before yesterday’s open and has been going lower since. Silver and Platinum never reversed and remain short under pressure. This is the advantage of trading the trend mechanically, we follow the rules without emotion

Metals appear to be under pressure and could easily break hard from here. All rallies to resistance should be sold with the recent weakness. When markets are in downtrends, the path of least resistance is down which should take the metals to the next major support level.

Although we are short April Gold many are still in December, next big support is 1850 and a violation of that opens 1800. Silvers support is 23.50, violating that level brings 22.5 – 23 in play and January Platinum support is 840 and the 800.

Follow the path of least resistance without emotion, look for rallies to sell. We are trading with our algorithm which has a 66% success rate. Follow the rules, avoid the news and be in the best position. 

Todd Horwitz Chief Strategist
Stop being a prophet and make profits

Futures and Commodities with Andy Hecht and Technomental: Our webinar on Saturday was fantastic, here is the recording

Saturday Recording: 2020-11-07 Techno Mental Futures and ETF Recording