Here is a chart from yesterday morning’s NFTRH subscriber update showing the breakdown from a short-term topping pattern and the relevant support areas at the SMA 200, 1240 and 1215. I have been and remain short GLD with the sounds of the February bullhorns still ringing in my head.
Silver (also from yesterday’s subscriber update) is the one I anticipate buying first (actually, Platinum already holds that distinction as it recently hit a buy area we’ve been tracking) because it has dropped toward key support harder than gold and because its CoT situation looks to mature sooner.
If that is a little bear flag forming beneath the SMA 200 it can easily lose current support and register 14.50.
Finally, Doctor Copper has still not written the macro prescription. It looks constructive above the SMA 50 but the signal comes if it breaks above 3. A very different signal comes if it fails the 2.85 area.
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