by Avi Gilburt
When I peruse the comments on our Elliottwavetrader site alone, I am seeing a myriad of “beliefs” as to what the metals are doing and will be doing. Most of such beliefs seem to be driven by feelings, and quite a number of them have been fighting this metals rally. Yet, some are even driven by various forms of analysis.
Of late, we are seeing so many become fearful of the metals market due to the COT report being so “bearish.” But, I have already dealt with this issue last week, yet I am going to repeat why that report is really of lesser consequence, especially when viewed relative to the structure of the market and support and resistance: