I saw those separately but not in combination. I will explain in more details in a private message.

Silver closes at 2:40pm Eastern, not at the 4pm as the indexes do. At 5pm the move was already under way.

However, this entire move looks like a huge stop run (deliberate manipulation by bullion banks). Was there a good reason to buy technically after a 3.4% drop? Were any of the indicators supporting a buy? Thanks for the info.

Thanks, Steve.. but I cannot do that intraday: I have a day job. I need a lot more information than just candles, as I trade futures with $10 per point.

This EW could be true although I do not believe it fully: https://www.insidefutures.com/article/3127836/Elliott%20Wave%20View:%20Silver%20Has%20Scope%20for%20More%20Downside.htmlThe indices may go lower from here.

it is too late to buy now for a trade after a large move has already taken place.

$silver.. It posted a bullish hammer at the close at 2:40pm yesterday, and the algos ramped the price up overnight. I did not have a good conviction to buy the low a day before, as it was not oversold. Now it is back to the prior levels. Could somebody explain why algos bought it strongly?

I hold no hopes for the .61 fib. number. $gold has not traded technically recently, it may follow $silver down. Or $coffee or \cl to exceed its .61 fib level. I would welcome this scenario to buy lower.  FWIW.

Edit. $gold should post a seasonal high in February before the 10th.

SaharaCharts , thanks for the updated charts. On $silver, what is a good support if the current 17.50 on March contract futures fails to hold? I am scaling back into a position on micro silver contracts today after having sold the pop on Sunday night.

SaharaCharts, could you please update us on trailing stops for both $gold and $silver? The 4-hour chart of both futures is constructive and suggestive of further upside. I would like to add on a small pullback on Sunday night. Thanks in advance!

Could you program it into an indicator for Tradestation? I did not go long in October, and then it was too late. I have missed the entire move. If I have it on my computer, I could closely follow it.

The breakout was also retested yesterday. Yet a break-out is not strong enough to move higher. PPLT provides no leverage, so one must have enough capital to buy it and hold it in order to make some good money on the trade. IMHO, platinum futures are more attractive although more complicated. I never trade futures only based on the charts.

The average true range for palladium is something like 25 points. That is $2,500 on a single contract of palladium futures. Trading it is not for small accounts, below $50K. One also must be comfortable with momentum trading by adding contracts as it moves higher.

Platinum is a lot cheaper and has more upside potential.

Palladium market is blowing up for the bullion banks. The details are here: https://www.zerohedge.com/news/2020-01-21/magic-palladium-bullet-2020-craig-hemke

Is platinum or gold going to be next?

Sorry, I got it backwards. It is SPY options with 0.5 delta which you use for your 1st entries. Options on SPY with 0.9 delta behave like MNQ. Both MNQ and MES are worth about $15,000 of the underlying index.

Options with 0.9 delta. One difference though is that options require a constant margin while MES contracts eat the margin slowly but relentlessly. However, for hedging overnight between market closes that is not a problem. If there is a trade at 4pm but it disappears by 5pm, selling one MES till the next morning as a hedge will do.

Then there is a slight difference between MES and MNQ: MNQ moves more than MES nowadays. One could combine a SPY option with one MNQ contract for a fine hedge.

In my experience, one MES contract is roughly equivalent to one SPY option. MES trades 23 hours per day. and can be used to hedge SPY options, or vice versa, a position in MES can be hedged with SPY options in heavily trending markets. 1 MES is one tenth of a one ES contract.

that should tell you who owns the TSLA  stock.

Matt, The weekly chart of @PL is outstanding, and it should go higher to $1,092 at least. I did not have guts to buy it yesterday on a pullback, as the trailing stop on daily chart was at 978ish. that's risking about $1K on a single contract. @PL did reverse at the R1 support yesterday, but that is if  one is able to watch it during the day. I have a day job, unfortunately.

Do you have an indicator that displays the strength of the current move? DVI in Tradestation and ADX in stockcharts, perhaps?

The source of this information, please?

SaharaCharts, Thanks a lot for your charts and quality TA. I missed the move on \PL this am, to be honest with you. Is there a buy level for it in case the move is retraced early next week? Thanks in advance!

Majority of professionals make wrong conclusions about this market. This fact has held true for the last seven years or so. The majority are always wrong on the market, this is how it works.

What has worked for me in these conditions is automated systems, which deliver unbiased conclusions. Even technical analysis does not always work in this market.

Gold has behaved like a currency lately, and it does not always trade technically. It seems that the indexes behave like a currency too recently for reasons that no one is willing to speak loudly. Very few understand what is going on in Europe, and that's a big hint. Good luck!