Crude Oil and Gold, Silver Precious Metals Link

Trading position (short-term; our opinion): Short positions (with a stop-loss order at $54.51 and initial downside target at $45.43) are justified from the risk/reward perspective.
On Tuesday, crude oil moved lower and lost 1.66% after data showed that OPEC production rose to about 34.2 million barrels per day in Nov, hitting another record high. In this environment, light crude slipped under $51 and approached the barrier of $50, and thus the short position that we had opened early during yesterday’s session were already profitable at its end. Will we see a drop below the key $50 level in the coming days?