Gold and Silver setting up for a big move – By Todd Horwitz, Bubba Trading

 

For weeks the metals have been in danger of breaking down and reversing trend. After the beating and the push down, support held and now appear to be setting up for another move to the upside.

The patterns are once again starting to show some clarity, Gold a little stronger than Silver but both setting up for a big mover. Gold has lifted from support and showing very positive signs of another up move. Silver has narrowed into a pattern that will lead to a big move in either direction. Since Silver has held support, we expect that move to be higher.

Remember, price determines price and the next move. For the most part news is worthless and for those who trade the news always lose. News is almost always price in ahead of time. Conspiracy theories which have circulated around the industry for years are simply news which brings us back to, price determines markets

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.