Play it again has been the mantra of the metal’s markets over that past couple of days. Once again, we see solid consolidation as Gold and Silver await the next big move, all signs point higher. The pattern for Gold and Silver remains bullish.
We are already seeing the cries that Gold and Silver are manipulated, which is false under any circumstances. It takes money to try and manipulate any commodity market but at the same time even manipulated markets require price discovery. Too many traders and investors forget the most important fact of markets: they are always right.
We watch the price action and the trend, the past couple of days the action has been lousy explaining the lack of real movement. However, the bigger picture looks very bullish and point to a big run up. This could be fueled by the selloff in the crypto world.
The bottom line is simple, price discovery will drive the markets up or down whether they are manipulated or not. Right now the trend is higher and we are long – it’s that simple.
Todd Horwitz Chief Strategist BubbaTrading.com
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