According to renowned analyst Todd ‘Bubba’ Horwitz, gold, silver and platinum are positioned to be bearish. Gold, silver and platinum are positioned to make another move to the downside. The trio remains weak and de-energized, suggesting lower prices are ahead. According to the analyst, there is nothing to indicate that this pattern will change anytime soon.
“A drop for gold appeared”
While metals remain solid long-term fixed asset commodities today, they look set to drop further. Sellers have control and continue to push at every opportunity. It should be noted that all markets are trending according to the time frame. According to Todd ‘Bubba’ Horwitz, daily charts show lower prices to come. Analyst says:
Looking at the year in gold and silver, we saw one of the tightest trading ranges in recent history. This kind of action indicates that a much larger movement is coming. No one knows when the move will happen and in which direction it will go. We know the daily charts are trending lower so here is the short article.
According to the analyst, 5-10 years from now, we expect prices to be much higher, but until the trend changes, we will continue to buy physical while staying on paper in the short term. The analyst continues:
In all markets, price action determines what happens next day, week or month. Keep the two strategies separate. The worst trade one can make is to turn a trade into an investment with the hope of a way out. Traders must learn to take their losses and move on to the next trade. Patience, discipline and money management always wins the day. Let the map of the markets show you the way.