Like the soap opera’s, Gold, Silver and Platinum are keeping is on the edge of our seat. In recent trading action rallies have failed but left us close enough to consider reversing to the long side of the market. However, everyday has ended the same keeping us short.
We know for a 100% fact that one day we will be long again. For now, the price action remains negative and there is no reason to get long until price action indicates to do so. We have indicated many times that our trading decisions and investing decisions are not always in sync. We are always long the metal via physical metals, trading decisions trade either side of the market.
Gold resistance has changed and is now 1940 resistance December futures. The underlying pattern does not look bad and gold may be getting closer to changing. December Silver, like Gold, continues to fail, however the same underlying bullish appearance is there. At his point Platinum is much closer to reversing, for today we are short across the board.