Gold and silver taking a hit here, are we testing major support soon?

[ArthurByte]

Hey everyone, watching Comex close down another 1.4 percent on gold and silver getting hammered by 2.5 percent today. Ngl, price action is looking pretty heavy right now, especially with silver dropping three of the last four sessions. I am trying to figure out if this is just a standard liquidity sweep before the next leg up or if order flow is starting to flip bearish on the short-term charts. We are getting dangerously close to some massive daily support zones, and I want to know how you guys are playing this. Are you scaling in for a bounce here, or are you holding off to see if those key technical levels actually break?

 

[JulianCraft]

Not surprising at all. People keep expecting the Fed to pivot and save the day, but inflation is still way too sticky and they're going to have to keep rates higher for much longer than the market wants to admit. Stronger dollar is going to keep crushing metals, so I expect those support levels to snap. I'm staying on the sidelines for now.