Metals Pull Back Before New York Open as Traders Watch Reversal
The post Metals Pull Back Before New York Open as Traders Watch Reversal appeared on BitcoinEthereumNews.com. Metals came under pressure today as gold, silver, copper, and platinum all dropped before the New York session. Analyst Ian Cooper said gold was down 1.9%, silver lost 6%, copper fell 3.2%, and platinum declined 2.7% at the time of his update. However, Cooper warned that he does not fully trust early moves before New York opens. He said the drops could still reverse during the day, so traders are watching whether the current declines hold after U.S. markets become active. Gold Bull Flag Comes Under Pressure Gold showed the weakest short-term structure among the charts Cooper shared. The metal fell back below the upper orange trendline, which had supported the bull flag idea in recent sessions. The daily gold chart showed price trading near $4,561 after a drop of about 1.88%. Gold had already been compressing inside a narrowing structure, with resistance near $5,092 and lower su