While traders look for reasons to buy gold and silver , there is no reason to step in here. The precious metals remain in downtrends, with a higher probability of breaking to the downside until proven otherwise.
What I find interesting is marketing campaigns continue to tell us how high the metals are going. However, we know for sure that eventually, gold, silver and platinum will reverse and trend higher. Trying to guess when without price action and proof that becomes a fool’s game of hope.
Traders must learn that trading is never based on hope or false promises, but price action and trend. Add to that, when those who sell promises and hope are playing on the emotions of traders. Hope is a losing proposition when it comes to trading; price and trend will guide you.
Recording: Hedge your Portfolio: On Saturday we had a webinar on Hedging your Portfolio. […]
October 27, 2020 (updated October 27, 2020) Published by StockMan