It seems that Silver has now pulled back to retest the inverted head and shoulders breakout. There are about 3 other key TA patterns that have also been confirmed just today. With a higher than anticipated US ECI last night, people are starting to realise that inflation isnt going away (https://www.cnn.com/2024/04/30/economy/employment-cost-index-eci-wages-q1/index.html).
With the FED rate hike decision tonight, we might have enough inflation for their continued pause in rates to justify a Silver and Gold breakout i.e. 1970s Stagflation breakout. If the FED signals that they are ending the MBS and treasury selling, that would add significant fuel to the fire.
It seems that Silver has now pulled back to retest the inverted...
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| Last trade - 16.10pm 21/05/2024 (20 minute delay) ? |
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