Gold, silver and platinum prices headed lower

New York (Nov 11)  Gold reversed to short before yesterday’s open and has been going lower since. Silver and platinum never reversed and remain short under pressure. This is the advantage of trading the trend mechanically; we follow the rules without emotion.

Metals appear to be under pressure and could easily break hard from here. All rallies to resistance should be sold with the recent weakness. When markets are in downtrends, the path of least resistance is down, which should take the metals to the next significant support level.

Although we are short April gold, many are still in December; the next big support is $1,850 and a violation of that opens 1800. Silver’s support is $23.50; violating that level brings $22.5 – $23 in play and January platinum support is $840 and the $800.

Follow the path of least resistance without emotion. Look for rallies to sell. We are trading with our algorithm, which has a 66% success rate. Follow the rules, avoid the news and be in the best position. 

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