Bonds rallied and the POSX puked so you would have expected the Comex metals to rally today. And they did. However, not as much as we would have liked.
As discussed yesterday, this is not unusual at lows for price and sentiment. Rallies are sold into by liquidating longs and adding shorts. This will turn…eventually…but it obviously hasn’t turned yet, as shown in today’s price action.
Tomorrow will be another volatile day across all markets as the data release at 8:30 ET will no doubt have an impact on the forex and bond markets. Let’s see how the Comex metals respond…
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