$1851 in gold: We talked about it holding support and it did, exclaims Phillip Streible of Blue Line Futures.
Using a Fibonacci retracement, and connecting the contract high to the triple bottom, we saw the action reach the 38.2% retracement, and it could be looking at $1900.
Platinum was a little disappointing, but we would be looking to enter longs at this current up trendline, as price action pulls back into it.
Copper broke support, stochastics are rolling over, all potential signs that it could be headed lower. Copper does have a seasonality to it, so I’m looking to purchase in November and sell in December (Tune in for the exact dates!).
The Dollar Index made a new high but failed to perform yesterday. (We do believe this had something to do with the inflation numbers in the UK.)
Which currencies make up the weighting of the Dollar Index? Tune in to see how we are playing the SPR release in crude oil, and what is going on in natural gas, soybeans, and more!
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