Battle Of The Century
The metals are in the middle of a major bull-bear debate,as witnessed by the last few trading days. After breaking out on Jan. 2 andmaking recent highs on Jan. 4, metals have started to move sideways to lower.The pattern is typical of a market topping, and this should be the top in goldand silver for now.
Volume also peaked on Jan. 4, giving all the indicationsthat the metals were ready to take a breather. They haven't gone straight downas the bulls and bears battle it out, but it's obvious the metals markets areweakening, and the next big move is down.
Unless gold can find enough energy to rally and close above$1,330, expectations are for a test of the lows. The process should take goldto $1,300, $1,280 and eventually down to $1,240, where we will be waiting withopen arms to start buying again. For now, we sell rallies
By Todd 'Bubba' HorwitzContributing tokitco.com
Follow @Bubba_Trading
Bubba@bubbatrading.com www.bubbatrading.com/ Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.