Really Fat Pizza, page-83

@CaptainGrumpy

just some pure speculation, and wondered what you (or @cha ) thought........or anyone else with a comment.....

I have been looking through some of the Futures charts, and the Gold Futures chart in particular, as it threatens to breakdown.

Interestingly, I note that the Silver Futures have not responded in the same fashion as Gold at all, even though the Silver Futures 'overall' are acting much weaker than Gold.
Now I know that an individual market can outperform another market over a short period, but usually that would be when considering an up move, not a down move, although I guess it could still happen. Anyway, for me this is a bit of an anomaly, as you would reasonably expect the weaker market (Silver), to lead the charge lower, not resist the move.

I do know for sure - that of all the Futures markets, Gold easily holds the most retail traders, and the professionals in the market often spend time wrong footing those traders (as it can be beneficial to them at times, and in this case potentially 'clear the decks' prior to a (decent) move). And because of this high retail involvement there are sometimes exaggerated moves - sort of similar to an ETF's, but not Quite as pronounced.

So with Silver resisting the move lower so far, and knowing false moves can sometimes occur in the Gold market, it makes me wonder if the current sharp pullback will eventually become some sort of 'engineered' reversal or (multi bar) shakeout.

Below is a side by side view of the incomplete Weekly charts, which offers a wider view of the two charts, where the potential breakdown below previous support on the Gold chart is obvious.



cheers