Gold, Silver and Platinum push higher. “..buyers are suffering from FOMO..” By Todd Horwitz, Bubba Trading

 
2019-02-20

The huge rally in metals rolls on, there seems to be no stopping them. All three are in the blow off phase, the buyers are suffering from FOMO (fear of missing out). This pattern and the huge rallies will end; however, this has triggered a buy signal making us bullish gold, silver and platinum.

We have been bullish gold and platinum all the way up and have added silver to the fray. We will be looking for a pullback to support levels to create additional buys. Silver was the last to confirm and up move, depending on how the patterns develop the possibility exists for a major bull market.

Looking into the future we would like to see a small pullback by an extended period of consolidation. This type of action would be the best for a bull market run, if the metals continue at their current pace they are doomed to fail. Support levels are Silver March futures 18.00 -18.10, Gold 1590-1595 April futures and Platinum 990.00 -995.00 April futures

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.