March 26, 2021 - (Gold Market Wire) - The metals markets are in play. Of that there can be little doubt. Silver's performance yesterday has all the hallmarks of a spike low that could set thestage for a recovery. The fact that the spike low has happened in the face of a very strong US Dollar rally only confirms our opinion that it is time to start thinking about establishing trading length in Silver. Spike lows like this have been good indictators for follow on rallies, and yesterday's turn-around from what looked like a rout should be considered as a turn in sentiment, that was obviously accompanied by some strong buying. The chart:

Of course, there are more instances within the above chart, but the picture should be clear. Yesterday the following/weak money shorts got routed. They are going to have to buy back now. As we pointed out yesterday, Silver was approaching a real 'do or die' with the trend line yesterday, and the late rally showed that it was ready to 'do' and not 'die'... at least not yesterday. As ever, today's close will be critical. While we feel hampered by the continuing vacillations of the equity markets, we believe that Silver is ready to perform to the upside, and so length is sought if we can get some Gold market confirmation.

No doubt the metals need to get a move on, and, hopefully, we may have just signaled that that is (finally) about to happen. The chart below of Gold, shows how important this juncture actually is.

No doubt about it - Gold is in a bad way and needs to meet this challenge. We will look towards the $1750 level today to confirm what we think is an emerging reversal.

We're setting up for an interesting session. Silver has shown some settle yesterday. Let's see if Gold can do the same.