It’s true, gold is breaking out to the upside

Gold has finally broken out to the upside with Thursday’s bullish action. It has been attempting to break out for weeks but kept failing, leaving a bearish tint around the yellow metal. We have reversed gold to long

Silver and platinum are still struggling to hold critical levels and Thursday’s action, until proven otherwise, was a dead cat bounce or short-covering rally. Silver and platinum are quite a distance from breaking out to the upside and we remain short.

Our expectations are mixed; the gold rally could fail, reversing gold back to short, joining silver and platinum. Or the bearish trends in the others could reverse, and we could belong across the board. There is no real way to tell but watching price action, which is split.