Contrary to what most investors believe the initial move out of a coil tends to be a "false" move about 70% of the time. After the initial break the larger and more sustained move is usually in the other direction.
Precious metal investors should be hoping for a break lower. That would give investors not only a better entry but put the odds in their favor that price will soon be moving up.
Of course one could always buy into a flashy bear market rally if they believe CNBC and think the bear is finished.
Personally I would rather buy an oversold correction in a bull market than an overbought bear market rally.
The negatives are starting to build against this market rally continuing much further. I'm going to go over those negatives in tonight's report.