Testing The Metal’s Mettle
It is not surprising that after the strength exibited by gold and silver since last Friday, there would finally be a pullback. Now comes the test. If I am going to be correct that both metals will target their respective mvg. avgs. (as posted at their Fri. bottoms) then this pullback will be short and sweet. I expect the rally to resume tomorrow and reach those converging mvg. avgs. by the end of next week.
Who knows but for now I am considering this as a strong shake out. Everyone I know thinks PMs are going lower. A perfect backdrop for them to end up on the sidelines and sucking their thumbs.
I agree. Either you believe the manipulation continues forever OR if you are going to see a big move higher, it isn’t going to happen when everyone is looking for it.(Late Nov. seasonals that have worked for years) It happens now or November will just be more of the same.