Gold’s Moment of Truth – Again
Last week we titled our commentary, the moment of truth/ Once again today gold and silver are at the key level. The metals will hold support here or breakdown, it’s that simple.
The key levels to watch are 1495 gold and 17.30 silver. That doesn’t mean we immediately sell at these levels however a close below would indicate a possible pattern and trend change. There is danger of a breakdown here but as always patience to wait for the footprint is the key to success.
There are many reasons the metals could be breaking down but there is only one we care about, the price action. Since reaching their highs in early September gold and silver have struggled. What the price action and the levels, there could be a reversal as early as tomorrow. We will know after the close today.