Expecting a Bullish Continuation all the way to 33.294
Buy Silver now @ 33.120
Stop Loss - 32.979
Take Profit - 33.294
Risk to Reward - 1:2
*Manage Risk Responsibly*
Fundamental Punchline: In the short to medium term, we expect OPEC+ activities to be the key driver of crude oil prices as a broader escalation in the Israel-Palestine crisis seems to be secondary in the minds of investors at the moment.
Some key points from the OPEC + meeting yesterday:
- Brazil joins the group as it has a goal of substantially increasing its...
Fundamental Punchline - Recent weak US inflation data hurt chances of another US interest rate hike in December. In the US,
consumer prices rose 3.2% y/y in October, slowing down from 3.7% in the previous reading, and below estimates of 3.3%.
Technical Bias - After a healthy retracement from hitting 2000, the yellow metal now seems to have found support a ready...
Fundamental Punchline - Gold saw some strength last week as weaker-than-expected U.S. nonfarm payrolls data, coupled with less hawkish signals from the Fed. This spurred deep declines in the dollar and Treasury yields. However, the yellow metal opened the week with
a slump from the Asian session into the London session as any relief
over a potential pause in the...
Fundamental Punchline - Just like Gold, silver is also considered a
safe haven asset. It, therefore makes sense why silver
has been on a massive rally in the past three weeks as the instability
in the middle east rages on. The bias remains clearly bullish and so I am looking to go long.
Technical Bias - I'll be looking for price action confirmation for buys...
Fundamental Punchline - The yellow metal remains the world's
number one safe asset. It is, therefore, a no brainer that in times of
uncertainty and global instability as we have now wih the political
instability created by the Isreal-Palestine crisis, investors will continue
to scoop up gold as the conflict intensifies.
Technical Bias - Gold has been on a...
Fundamental punchline - Instability in the middle east! If the current Isreal-Palestine crisis widens to other states in the region, then oil production will likely be affected, therefore, increasing the chances of an oil rally.
Technical Perspective - Bullish trend plus fresh bullish weekly price action from support area
