Curiously sufficient, gold and silver proceed to trace their present patterns. Gold continues to carry the uptrend on monitor with a transfer to $1,600 within the April futures. Silver in a downtrend on its method to $17.50 and under within the March futures.
One factor we now have realized about markets is that they break into three totally different patterns, spending more often than not consolidating. Each gold and silver are in consolidation; nonetheless, they’re creating traits inside their consolidation ranges. Gold in an uptrend and silver in a downtrend inside their ranges.
Ultimately the metals will get away to a longer-term pattern, as they sit now – gold larger and silver decrease. There are clearly no ensures, however the patterns are clear. We are going to keep quick silver within the March futures and lengthy gold based mostly on April futures. When buying and selling, watching worth motion and course offers you the highest chance of success.
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