Now we have been writing for weeks that gold and silver have been at important ranges of assist. These ranges have been should maintain, or they might get flushed. Certain sufficient, on Monday, they each failed and dropped huge. Gold
This morning the promoting continues with gold down an extra 28.00 and silver .40. As soon as once more, each have come to a different determination level. The ranges are: gold $1,800 December futures and $23.00 December silver. A violation of these ranges may create the identical motion with a tough quick sell-off.
Clearly, we’re nonetheless holding our brief positions and assume these ranges might be violated. Nevertheless, after this morning’s early push all the way down to $1,803 gold and $23.08 silver, a useless cat bounce wouldn’t be a shock. We anticipate a small bounce however will add to our shorts at 23.5 silver and $1,840 gold.
The following main targets we’re in search of are: gold $1,750 and $22.5 silver. The pattern is decrease and there’s no expectation that the bottoms are in. We anticipate the promoting to proceed and sell-offs to be arduous and quick.
Futures and Commodities with Andy Hecht and Technomental: Our webinar on Saturday was incredible, right here is the recording
2020-11-07 Techno Psychological Futures and ETF Recording
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