Are the Bottoms in for Gold and Silver? – By Todd Horwitz, Bubba Trading

 
2019-01-17

Gold and Silver continue to consolidate at higher lows trying to make a decision of which way they are going to go next. This brings the question, are the bottoms for gold and silver in place?

We can never say with a 100% certainty whether the tops or bottoms are in place, we can only follow the footprints that the markets leave. Because we use proprietary algorithm that never reversed leaving us long the gold and silver markets. Combine the algorithm with the footprint and we can make a case for the bottoms to be in.

We will remain long although we do have some concerns. The blow off pattern that we witnessed on Tuesday January 17th usually signals a market top. Magically the last support held, building a support level that leads us to believe the bottoms are in and gold and silver go higher.

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.