Gold weak, Silver and Platinum failing at expected levels – By Todd Horwitz, Bubba Trading

 

2020-03-23
One would have thought that the turbulence in the markets, shutdowns everywhere and the destruction of equities, the metals would be flying higher. One would be wrong. The action in Gold, Silver and Platinum remain bearish and selling rallies seems to be the ticket until further notice.

Gold tried to rally on Sunday nights open and has spent the last 9 hours working back towards the unchanged level. Silver and Platinum tried to rally but have failed although Silver is slightly higher Platinum is lower. The price action is weak, there is no fear.

As we write about almost everyday all markets are really a matter of fact, price determines price its that simple. Those that get caught up in the news cycle are wrong over 90% of the time, we only care about price. We are short all metals and will stay there until the price action suggests otherwise. We are sellers of rallies

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.