Gold looking to break out, Silver at resistance – By Todd Horwitz, Bubba Trading

 

2019-02-18

As we watch the latest developments in the metal’s gold looks like its prepped and ready to make a run at 1600. That level should fail but eventually breakout through. We are looking for a test of the January 8th highs, with a breakout to the upside possible.

Silver is higher this morning but still in a trend that look lower. We would be surprised if silver can get above 18.00 March futures and will continue to be short until something changes in the pattern. The last two weeks silver has been in a consolidation pattern.

The simple fact about all markets is they continue to run the same patterns repeatedly. With gold in an uptrend and moving higher expectations are that should continue. Silver in consolidation should resume the trend which is lower.

We don’t typically trade Platinum but for those who do the pattern looks bullish. Platinum is consolidating at support in an uptrend. There is a solid chance that Platinum test the recent highs.

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.