The Dec10USDX is last at 77.96. A break of 77.60 would probably send us back to 77 and, from there, 76. Obviously, $ weakness will help the PMs and the stock "market".
Friday, November 12, 2010
Watching the USDX
Metals look to be once again testing 1385 and 26.50. Key to support, besides the buying of the buyer(s) of size, would be the USDX, which is rolling over.
The Dec10USDX is last at 77.96. A break of 77.60 would probably send us back to 77 and, from there, 76. Obviously, $ weakness will help the PMs and the stock "market".
The Dec10USDX is last at 77.96. A break of 77.60 would probably send us back to 77 and, from there, 76. Obviously, $ weakness will help the PMs and the stock "market".
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ReplyDeleteany thoughts on the low AU's shoulder?
ReplyDeleteTurd, any comments on the action so far in Silver. Dollar appears to be rolling over but the mini bear raids keep coming out of the woodwork.
ReplyDeleteSilver's getting KILLED. 25.96 as I type. Any additionals thoughts or comments?
ReplyDeleteComex close is around 26. This means we had a down week. Not terrible news but certainly not great, either. We'd have to close next week below 23 before I'd have concerns.
ReplyDeleteThat said, I'm quite sure you'll get a chance to buy some silver near 25 intra-week next week. If it gets there, I'd buy with both hands.
I'll try to do a silver post in a few hours, Lots more to say on that one. Keep checking back.
ReplyDelete