Gold, silver and platinum are like a soap opera

New York (Sept 9)  Gold, silver and platinum markets are as dramatic as soap operas as they continue to turn around support. The trend is lower, and we are short, but the support levels have held, not allowing a breakdown yet.

This morning gold and platinum have had had 20 Dollar ranges; silver has not been as volatile. All three hover around support within the longer-term downtrend. The consolidation pattern that they reside in now will eventually end. Based on our algorithms, we expect the trend to end with a sell-off.

However, we do not predict markets; we play the math. Our algorithm diagnosing patterns continue to repeat repeatedly. The pattern they now suggest sees lower prices sooner rather than later.

Unlike soap operas, this pattern will have an ending. The current action is scriptwriters are writing in an ugly down move as the ending. However, we also know that patterns can change in the as always, will manage our trades carefully.

KitcoNews