As I wrote last week and the week before last, as metals cratered, the trade opportunity was still to the long side for a retrace to respective support/resistance levels in the metals.
Traders can decide if they are content with profit on the long side as we approach said resistance, which un-coincidentally transects with the now downward-sloping 50-day moving average. Stackers who bought the dip gave themselves a cushion, whereas more prudent, bullish participants can continue to wait to see if the $1885/1900 is reclaimed with conviction.
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