On 1/4, the “Power of the Pattern” suggested that “challenges were ahead” in the metals complex. (see post here) What has happened in the past 10 days per the metals? See below for an update.
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Of these four, Silver looks the most vulnerable to sizeable declines. In this post last week I shared that the Silver stock ETF (SIL) was breaking key support, which was suggesting further downside action in this complex (see post here)
Game Plan….The patterns suggested on 1/4, that if investors were long this complex, to establish very tight stops to protect values. 10 days later, nothing has changed.