After strong and deep decline to 1800 back in February, metal is now once again turning bullish as yields are coming down with the USD. We have seen a strong move towards 2k, where the market slowed down, possibly for a new corrective pullback; ideally wave four that is now at first support here near 1940, so watch out for a continuation higher within wave 5 soon.
For more analysis on other markets check our Elliott wave video below, where we covered, FX, CRUDE, SP500, DAX and even cryptos.
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Plenty of hawkishness to go around
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We haven’t seen a lot in the way of volatility and price action this week, but what we have seen is a clear message coming from many central banks. That message is one of hawkishness.