Gold and Silver Tormenting Trader’s and Investors – by Todd Horwitz, Bubba Trading

 


There are times when market patterns just torment their investors the metals markets are those markets now. The constant churning with lack of action always causes traders and investors to end up making a bad decision.

No matter what market or product you trade or invest in the patterns are always the same. Markets work through different phases and the metals are no in consolidation at the bottom end of the range. After being under pressure for the last couple of months both gold and silver are sitting on support in consolidation which is the time of most uncertainty to begin with

When markets are in the consolidation phase the best trade is no trade. This phase is known as the greatest time of uncertainty and is impossible to trade except for those that want to guess and gamble. The trend is down although but it’s possible a bottom has been made. The key here is to watch the levels, gold 1270-1280 and silver 14.80 -15.00.

Eventually these markets will breakout one way or the other, there is no benefit entering either side now, the edge is gained by waiting for a solid footprint or commitment in direction. We are long term bullish short term bearish and neutral right now. Obviously tormented by the metals inability to make a commitment. We are observing for now

Todd Horwitz
Chief Strategist
BubbaTrading.com

IN ASSOCIATION WITH

Financial Markets and Political Commentary
 

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About the author

Todd Horwitz - Author of “Average Joe Options“. Todd began his trading career in 1980 at the CBOE. He was one of the original traders in the OEX & helped start the SPX. He is a member the CME where he trades S&P futures as well as foreign currencies & is a regular contributor to CNBC, Bloomberg, BNN, Fox & many other major news networks.