GOLD $GLD AND SILVER $SLV MAY BE READY FOR A SHORT TERM DROP

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With worries in Europe settling down  and US stock market ramping up, there is  a strong case for a retracement in gold $GLD and silver $SLV. The money flows in gold and silver futures this afternoon have been negative. The technical pattern traced out by both gold $GLD and silver $SLV   this afternoon  is also negative.

If dollar is not weaker tomorrow morning, we will scale in shorts on both gold $GLD and silver $SLV tomorrow morning. Otherwise we will wait for strength in dollar for a trigger.

See also  PRUDENT INVESTORS PAY ATTENTION: GOLD MAKING A NEW HIGH AT A TIME NVIDIA AND BITCOIN ARE MAKING NEW HIGHS

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