Gold, silver, and platinum much like the soap opera, these are the days of our lives. Metals continue to turn around support. The trend is lower, and we are short, but the levels of support have held not allowing breakdown, yet.
This morning, gold and platinum have had 20 Dollar ranges; silver is not been as volatile. All three hover around support within the longer-term downtrend. The consolidation pattern that they reside in now will eventually end and based on our algorithms we expect them to and with a sell off.
However, we do not predict markets, we play the math with their algorithm diagnosing patterns continue to repeat repeatedly. The pattern they are in now suggests we will see lower prices sooner rather than later.
Unlike soap operas, this pattern will have an ending. With the current action, scriptwriters are writing in an ugly down move as the ending. However, we also know that pattern can change and as always, we will manage our trades carefully.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
On Saturday September 5th we presented our Hedging Model. Here is the recording from the event