Metals Edge | 11.23.21



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Big sell off across the metals complex ahead of the Thanksgiving holiday. We believe it could be due to some panic selling, thin markets, margin clerks not allowing people to hold negative positions through the holiday ect..


Gold is hitting a major 3 star support, (meeting the down trendline on this pullback) and if it falls below $(Tune in to see the level), we would be a little more concerned for a bigger selloff.


The technical levels we see approached in Gold and Silver could be correlated to the open interest in 2 particular option strikes, as we just had options expiration. Could we expect a snap back?


Platinum went on sale today, with talks of slower growth, slower demand, lockdowns, ect...


There is some data coming out tomorrow, (GDP, Durable goods, FOMC minutes) so stay on your toes!


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