Help Me Make Up My Mind
For the last couple of weeks, wehave written about the torture of consolidating markets. Monday proved onceagain how challenging they are. After rallying early to $1,353, gold spent therest of the day giving back gains and although it closed higher on the day, goldlooked weak.
Silver is in the same boat as gold;every rally is met by sellers. There is a unique pattern developing in themetals. Although they have been unable to break out to the upside, the factthat they are making higher lows and narrowing the range sets the metals up fora big move.
Based on the higher lows and theascending pattern, the big move should be up. However, in this pattern, failureto take out the top could lead to a big fall, which brings us back to thetorture of consolidation. We are observing the metals and waiting for a solidfootprint before making our next move.
Keep those stops tight.
Contributing tokitco.com
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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.