OASIS FORUM Post by the Golden Rule. GoldTent Oasis is not responsible for content or accuracy of posts. DYODD.

… with only a 1600 contract increase in open interest … suggestive the bankers are not stepping in front of the rally.

Metals Daily Exchange Volume & Open Interest – CME Group

This week could still see some giveback however depending on broad liquidity conditions.

That said, the Fibonacci signature on the Gold / Silver Ratio is suggestive silver could move to $50 rapidly under the right conditions.

What’s more, the head and shoulders pattern in the trade measures to 66, a 20 point move from here, which could propel silver well above $50 even if gold remains rangebound.

Matched with breakouts in several silver stock indexes this past week, one can lean on the bullish side until the Gold / Silver Ratio is vexing the 70’s if the bankers continue to allow silver to run.

Mornin all

We’ve stumbled at the end of the month in 3 of the last 4 months. The chart of the HUI looks like it may be set to do the same this week with the RSI at 68 and its 50 pts. above its’ 50 dma. Doesn’t mean it has to but seems likely. We are still in the pm market.

So, we start with the dollar up a bit, rates up 1 bip, SM a little lower, oil a little higher, and Bitcoin taking it on the chin for $2K after a huge day on Friday. Crypto has not been strong for the last couple of weeks.

Our pm’s are a little lower, nothing scary. PM shares are on either side of flat.

No eco data worth noting really. Just a plain vanilla day where we hope they don’t pull the usual low volume bleed.

Accident Prevention
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