Gold and Silver Lower – By Todd Horwitz, Bubba Trading

 
2019-02-11

Since the jobs report last Friday gold and silver have churned back and forth, basically they have gone nowhere in a hurry. There are a couple of differences in the patterns of the metals, gold looks to be headed higher and Silver lower.

This morning both metals are slightly lower, but the overall trends have not changed. Gold is in midrange between the recent highs and lows, while silver is at the higher end of the range. In other words, gold can go to either end of the range while still being in a bullish pattern as silver approaches resistance.

These patterns typically resolve themselves in the direction they were headed indicating gold should test the highs of the January panic high and Silver the recent lows. In the general the metals have seen declining volume as the equities make new highs. The fear is gone, the metals should continue their recent trends We are targeting 1600 in Gold and 17.50 in Silver

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.