The saga continues as gold and silver hover near the bottom and of their trading range. On Wednesday when it looked as if both gold and silver were ready to break down, in came the buyers, reversing the metals from lower to much higher, settling the day higher.
Gold is the weakest of the bunch with the succession of lower highs for the last couple months. However, the fact is that gold has been able to hold support and maintain the bottom near 1900 to 1920 December futures. It could be possibly showing strength.
The silver pattern is almost identical to gold with the exception that silver looks stronger than gold, as does its pattern. Silver’s consolidation is much tighter and is also in mid-range of the most recent highs and lows.
We do not predict, panic, or get into the day to day swings of the metals. All our decisions are made by our algorithm, without emotion, without opinion, just mathematical facts. The trend is lower, we are short, nothing will change that until we get a signal to reverse.
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: Hedging Presentation Recording