On Friday we wrote that Gold was in danger of breaking down. We saw a heavy sell off on Friday and overnight into this holiday trade Gold traded 1800. We expect the selling to accelerate to our new target of 1770.
Silver has now joined Gold for a deeper sell off. Although Silver is slightly higher this morning the heavy overnight selling caused some damage. Our new downside targets on Silver are 23.5 and 23.
Although Platinum remains stronger and we are long, a break below 1060 would suggest a breakdown there as well. For now, we are short Gold, Silver, and long Platinum. The metals have the appearance of getting ugly.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
Here is the recording of Options Training Session 2 – The Next Step. We have also included a registration link for session 3 on Saturday January 23rd at noon est.