Gold joins silver, breaking down

New York (Sept 23)  Gold has now joined silver’s party and is breaking down this morning. After holding support for the last couple of days, gold is under pressure this morning. The big question is if this is the final blow-off down or just the beginning of a much more significant selloff.

We do not predict markets into the future. We trade the patterns we have in front of us, looking at support and resistance levels, one at a time. As you know, we have been short all metals since the beginning of August and that trade has paid off handsomely.

With gold and silver falling lower, platinum is next. A close in platinum at $860 January futures or lower would signify a breakdown there as well. As our algorithm remains short, we do not predict markets. We play the mathematical edges that are built by the algorithm.

For now, it is down they go, key support now in gold 1850 December futures, $23 December silver, and 825 January platinum. In other words, we are short, staying short until it is time to buy.

We are now offering a comprehensive commodity report that complements our other services. The Technomental Commodity Report comes out on Wednesday evenings and provides comprehensive fundamental and technical coverage of most commodities that trade on the futures markets in the US and UK, as well as stocks, bonds, and digital currencies.  There is a summary report on Friday after the markets close, and robust quarterly reports on each of the six commodity sectors and a general overview that recaps the past three months and offers projections and suggestions for the next quarter. Andy Hecht, the author of the report, has been a commodity trader since the early 1980s and has vast experience in markets across all asset classes.

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