Gold, Silver and Platinum remain weak and should continue lower. Although there has been attempts to rally, they are continuously met with sellers. Monday saw another failed attempt.
This morning the metals are lower and reaching key levels: Gold 1800 December Futures, Platinum 1050 October futures and 25 Silver futures. A break below those levels would bring new levels into play.
The quiet trade is a concern, thin markets can lead to false moves in either direction. Until the underlying trends change, we will continue to stay on the short side of the trade. You must remember that we are always prepared to reverse but watching the current action lower is the path of least resistance.
There is always time to buy; traders try and benefit from short term movement in either direction. The current trend is lower, and all evidence points to a continuation. There are many bulls calling for much higher, but down they go until the trend changes.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way.
Todd Horwitz Chief Strategist BubbaTrading.com
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