Silver chart TA, page-8

historically silver (and gold, but silver particularly) likes a steeper rate curve - once the cycle flips to a new global growth cycle and king usd/weakening emerging markets phase is over

ie precious metal investors should probably be hoping for exactly what we saw overnight

i wont make any predictions as there's a lot on the go with basel 3 etc tat would argue for an extended period of paper market tiddlywinks - but a sharp initial spike down followed by a reversal higher is quite possible even textbook

as id expected the fomc reaction has taken paper futures gold price back down to the top of its descending handle - from the cup and handle formation

question is whether the reversal is immediate or if it gets back in that channel handle for a while before breaking out again

as always the difference in usd oil reaction to usd gold is hysterically funny