TEHRAN (Iran News) – Monday was just another normal day in the markets, a new vaccine was announced helping the equities explode higher. However, the metals saw some extreme volatility initially getting hammered on the news but managed to close higher on the day. Gold and silver had small gains while platinum rallied enough for us to reverse to the long side. January platinum has solid support at 900-910, first resistance should be about 960. Platinum has broken out of the trading range, if the breakout is real, we should see a market move much higher from here.
Gold remains short with silver and still look weak. We have been short for an extended period. We look for a breakout to the downside with some acceleration. The key here comes at the end of the month, both gold and silver could have key reversal patterns to the downside which could extend the selling.
- source : kITCO
