Gold and silver breaking down kitconews gold silver finance economics metals mining investing
After an attempt to rally on Friday, the sellers have returned in force in gold, silver, and platinum. Many will be calling manipulation, which is laughable; to complete a trade, there must be a buyer and a seller. The strong hands may be putting pressure; however, there are buyers of the metals that would go to zero.
Until further notice, traders should focus on selling rallies that reach a resistance level. Resistance levels to sell are 1760 gold, 20 silver, and 920 platinum. Until those levels are reached, the best trade is to observe. Investors that are accumulating could be small quantity buyers on the way down.
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