Loading ...Tomorrow is going to be an important day for silver and platinum…
$silver needs to hold above $16.80 to stay above weekly cloud support.
It’s interesting that $plat was in the same boat as $silver at the beginning of the week, but as of today is still well under weekly cloud support. $plat would need to close at or above $890 tomorrow to make it back above cloud support, which means it needs to tack on about $25 tomorrow. That is a tall order, and is a bit concerning since $silver and $plat typically pivot simultaneously.
Cloud support is not the end all be all, especially in metals, but typically, trending bull markets tend to respect cloud support for long periods of time. In platinum’s case, all of the work that has been done over the last 2 years to finally get on the top side of the cloud looks to be in serious jeopardy.
Rows and flows of angel hair
And ice cream castles in the air
And feather canyons every where
Looked at clouds that way
But now they only block the sun
They rain and snow on everyone
So many things I would have done
But clouds got in my way
I’ve looked at clouds from both sides now
From up and down and still somehow
It’s cloud’s illusions I recall
I really don’t know clouds at all