This is interesting. The chart was in much better shape in October in terms of bouncing from the support levels. As Trades notes, the current chart is very bearish. I don't know enough about investing to understand the full implication of the commercials reducing their net short position. Have they done this in the past few years without moving the price of gold up?

With gold and silver just moving sideways the last several days, it appears, as Trades noted, that it is losing steam here and heading lower. I was waiting for a bounce up in silver to the $31 resistance in order to then short it with ZSL. I am starting to think, however, that the top might have already formed since the silver chart looks even more bearish than gold's.

You guys are great and I really appreciate your input, especially the in-depth charts and anlyses by Trades.

Merry Christmas and Happy Holidays to everyone!

Andrew