Gold Continues To Fight
Kitco Commentaries | Opinions, Ideas and Markets Talk
Featuring views and opinions written by market professionals, not staff journalists.
Round two of gold’s battle to hold support was once again taken by the bulls. As we have written many times in the past, the torture of a consolidation pattern creates a lot of bad decision-making by the traders and investors involved.
The key to recognizing the consolidation pattern is a big step in making and keeping profits. All markets become untradeable at certain times -- the ability to observe the market and let the footprints guide you go a long way to better decision making.
As the metals churn in this congestion pattern, keep in mind support in gold remains $1,310 and silver $15.65. The pattern itself remains bullish and there is no reason to sell here. Until the pattern fails, the best trade is the one of patience. Until consolidation ends, the best trade is no trade.