Positive follow-through following our recent flags.
Gold: Massive move lower from 02 June where I flagged the 200-day starting to slope down while suggesting the reward-to-risk not being attractive on the long. From the time of publication to Monday, we saw a $200 price decline. Possibly some big selling during Monday's Asian session.
Silver: I suggested closing the prior short however the strong selling continued, with the price declining from $27 to $22.
Platinum (Part 1 and 2)
Part 1: In May I highlighted the bear flag via my research which played out as the price decline from $1200 to this week's low of $968.
Part 2: Most recently I also had an idea to go long above 1063 however that level never triggered as the price continued to decline on the back of a stronger USD.
Going forward, what's the view on the gold & plat prices in particular?
LD_Perspectives
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@unclecool787, In the ultra short term they could to rebound, as we have been seeing gold in the past few sessions however, I revert to my USD call for higher levels as the FED increases it's taper talk and shorts continue to cover their USD positions. On the back of this, a foresee metals struggling despite the potential for moderate rebounds.
unclecool787
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@Lester_Davids, solid process & thinking - lets see what unfolds in the next few weeks
unclecool787
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Good calls Lester you read the market quite nicely there
LD_Perspectives
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@unclecool787, Thanks Sven - hope you were able to take advantage of some of these opportunities.