Sell rallies in gold, silver and platinum

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 […]

About the author: StockMan
Any information posted on the website has been prepared without taking into account your objectives, financial situation or needs and as such, you should before acting on the information or advice, consider the appropriateness of the information or advice in relation to your objectives, financial situation or needs. Please be aware that any information posted on this site should not be considered to be financial product advice.
Posting Guidelines
Do
  • Do contribute something to the discussion
  • Do post factual information, analysis and your view on company valuations
  • Do disclose if you have an interest in a security
  • Do take our Terms of Use seriously
Do Not
  • Do not make low-content posts, unsubstantiated ramps or untruthful/misleading statements
  • Do not complain about a post unless you have reported it first, and not on the forum.
  • Do not post financial advice
  • Do not advertise or post sponsored content

Get involved!

Get Connected!

Come and join our community. Expand your network and get to know new people!

Comments

No comments yet