Gold, Silver take out key resistance
And they are off! Gold and silver have broken throughthe key resistance levels and could run a long way. Platinum looks prepped todo so today. Today is Veterans Day, which could slow market action becausebanks are closed. However, the patterns are solid and poised to reach the nextbig levels.
Platinum, which was the first to find the bottom,will be the last to break out from resistance. Platinum appears to be strongand a value play. Nothing is ever cheap because market participants are pricingthe assets, but in comparison to Gold and Silver, Platinum looks like the bestvalue on the board.
We remain long gold and silver with the trends.Because platinum is less liquid from a trading standpoint, we no longer tradethe futures but do buy physical and would be long here. We assume nothing, butwe expect a pullback to support soon, which would be another buyingopportunity.
In all markets, price action determines what willhappen in the next day, week, or month. Keep the two strategies separate. Theworst trade anyone can make is turning a trade into an investment hoping for away out. Traders must learn to take their losses and move on to the next trade.
Patience, discipline, and money management always winthe day. Let the map of the markets show you the way.
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