Sell rallies in gold, silver and platinum

Platinum has now joined gold and silver in breaking its major support levels. Much lower prices are coming; however, bottom pickers will attempt to buy and rallies will start to show after the recent selling pressure. When they do, they are opportunities to sell.

Metals are in a significant downtrend; in other words, the path of least resistance is lower. As traders, the best side of the market to be on is the one with the easiest path. Until proven otherwise, the move is down. This is where many make mistakes by exiting too early, trying to predict, or trying to guess the bottoms.

There is no doubt that gold, silver and platinum will go higher at some point. However, for now, everything suggests that they continue down. We remain short and will not cover until the markets show us that the current pattern has changed.

Futures and Commodities with Andy […]

Click here to view original web page at www.kitco.com

About the author: StockMan

Please remember:

The information provided here is for general knowledge and educational purposes only.
It is not intended to be a substitute for professional financial advice.
Every individual's financial situation is unique, and what works for one person may not work for another.
Before making any investment or financial decisions, you should always consult with a qualified financial advisor who understands your specific circumstances and goals.

Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, should never be acted upon. Please be aware that any information posted on this site should not be considered to be financial advice and i am not a financial advisor.