Gold and Silver track their current patterns – By Todd Horwitz, Bubba Trading


Interestingly enough, gold and silver continue to track their current patterns. Gold continues to hold the uptrend on track with a move to 1600 April futures. Silver in a down trend on its way to 17.50 March futures and below.

One thing we have learned about markets is they break into 3 different patterns spending most of the time consolidating. Both gold and silver are in consolidation however they are developing trends within their consolidation ranges. Gold in an uptrend and silver in a downtrend inside their ranges.

Eventually the metals will breakout to a longer-term trend, as they sit now gold higher and silver lower. There are obviously no guarantees, but the patterns are clear. We will stay short silver March futures, long gold based on April futures. When trading, watching price action and direction gives you the highest probability of success.

Todd Horwitz
Chief Strategist

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.