The Gold and Silver rally continue while Platinum continues higher. Looking at the group Gold and Silver are still a heavy favorite to fail while Platinum is now targeting 1100. Today is the key for gold with February futures trading at 1846 this morning.
Gold needs a close of about 1860 for a possible reversal, however we would not be surprised to see a total failure today with a potential lower close today. We are watching the close with interest, know today could be the end of the downturn.
Silver was never as weak as Gold with a close above 25.5 March futures could trigger a reversal. We will not react or run the algorithm until the close of the day. The earliest we would reverse would be tomorrow. One thing to remember, we never get caught up in the emotion of the day. Every trade is done the next day after a signal change.
Platinum which has been in a world of its own for the last month continues to charge higher is up over 10% since we reversed. Look for this rally to take out almost 4-year highs.