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Silver Weekly Technical Outlook + MORE

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This week, clients have been net buying gold, silver, and palladium.
Wednesday’s FOMC release seemed to spark more buying acitivity from our clients as they took advantage of the lower pricing in advance of the FOMC statement. Clients have also been net selling their platinum positions to take advantage of the current platinum price which has risen to over USD1,030/oz this week…

Continue Reading On .goldmoney.com »

Commodities rose across the board last week as US dollar plunged against major currencies. The USD index tumbled to as low as 93, a level not seen since August 15, last Friday. The Fed kept its powder dry in April and the conviction of a rate hike in June has not strengthened after the meeting.

Continue Reading On oilngold.com »

Natural gas’ choppy rebound from 1.611 continued last week and took out 61.8% retracement of 2.495 to 1.611 at 2.157. We’d now stay cautious on further loss of upside momentum and topping. Break of 1.950 support will now indicate near term reversal and turn outlook bearish for retest on 1.611 low.

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Silver’s rally continued last week and near term outlook stays bullish for 18.50 resistance. Break will target 161.8% projection of 13.62 to 16.17 from 14.785 at 18.91 next. On the downside, break of 16.835 support is need to indicate short term topping. Otherwise, outlook will stay bullish in case of retreat…

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Silver continued its spectacular run, and gold had a good week as well.
Underlying this performance was a weaker dollar. So far this year, measured in dollars, silver is up 28% and gold up 20%. On the week, gold rose from a low of $1228 to $1275 by early this morning (London time), and silver from $16…

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Gold’s break of 1287.8 last week indicates resumption of whole rally from 1045.4. Further rise should now be seen to 61.8% projection of 1045.4 to 1287.8 from 1228.5 at 1378.3 next. We’ll look for topping signal around there. On the downside, break of 1228.5 support is needed to indicate near term reversal…

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Saudi Arabia has been in the news recently for several interconnected reasons. Underlying it all is a spendthrift country that is rapidly becoming insolvent.
While the House of Saud remains strongly resistant to change, a mixture of reality and power-play is likely to dominate domestic politics in the coming years, following the ascendency of King Salman to the Saudi throne…

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Crude oil’s rise from 26.05 extended last week and broke mentioned target of 61.8% projection of 26.05 to 41.90 from 35.24 at 45.04. There is loss of momentum as seen is bearish divergence in 4 hours MACD. But there is no sign of topping yet. Further rally would be seen to 61.8% retracement of 62.58 to 26…

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