Gold getting ready to breakout. The tightening of the range tells us there is a move coming – By Todd Horwitz, Bubba Trading.

 


The ranges in Gold and Silver are narrowing which tells us they are getting ready to breakout of the trading range they have been in. The levels have changed from 1280-1320 to 1290 – 1310. The tightening of the range tells us there is a move coming

Based on the current action although we know a move is coming there is no way to determine the direction of the next move. We will continue to observe the action and let the market tell us what their intentions are.

Although we lean to the long side as an investor or short-term algorithms still indicate the move should be down. The conundrum for investors is do they get out and try to time the market or stand pat knowing the metals will move higher.

For now, the metals markets are a traders market, investors should sit back relax and observe. We are bullish long term and will hold longs while trading from the short side

Todd Horwitz
Chief Strategist
BubbaTrading.com

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.