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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (56615)	4/11/2019 2:14:54 PM
From: Goose94	Read Replies (1) \| Respond to of 202931

Silver: on Sale? July ’19 silver futures started the day with sharp downward momentum following the weak international equities data and a jump in the U.S. dollar. Global equity markets demonstrated weakness overnight except for the Russian market. Expectations of a continued delicate approach in U.S. Fed policy and possible soft economic data is feeding the fear of poor earnings ahead. The lack of confidence in the global equities may be responsible for the early gains in the U.S. dollar with safe-haven play favoring the dollar over metals. The strength in the U.S. dollar inflicted chart damage in silver; therefore, the metals continue to be vulnerable for near term correction. The technical outlook looks to favor the bear market with the price looking to extend into mid-14.00. The bulls wouldn’t have momentum in their favor unless July contract jumps near 15.30. As of last Friday, the commitment of traders with options (COT) showed the non-commercial and non-reportable traders held net long near 33K contracts. With current price action, weak longs probably eased out of silver. Silver Daily Chart Eli Tesfaye