Head and Shouders on US10Y DAILY - neckline broken
Updated
A head and shoulders formed on the US10Y Daily chart and the neckline was broken. US10Y is now heading lower which should provide as a push higher for Precious Metals, notably #XAUUSD and #XAGUSD.
If US10Y and break 1.52 watch out for a strong push higher both of the Metals. DXY looks weak and has tried to rally repeatedly only to be rejected lower every time. If the DXY joins the US10Y and US30Y lower , then Gold and Silver will begin higher and look to break to new levels. $1930, $1965 and pierce through $2000 and then run to a new ATH whereas $30 is the level needed to forge higher, eventually to $42 with overshoots even to $50, before a pullback and consolidation, The next level will be $70 towards the back end of the year or higher. I think there is a distinct possibility SILVER will overshoot and run past $70 and then consolidate as it hs been suppressed for much longer and has built up a sizeable head of steam. LOOK TO JUMP ON THE SILVER MINERS BANDWAGON.
If US10Y and break 1.52 watch out for a strong push higher both of the Metals. DXY looks weak and has tried to rally repeatedly only to be rejected lower every time. If the DXY joins the US10Y and US30Y lower , then Gold and Silver will begin higher and look to break to new levels. $1930, $1965 and pierce through $2000 and then run to a new ATH whereas $30 is the level needed to forge higher, eventually to $42 with overshoots even to $50, before a pullback and consolidation, The next level will be $70 towards the back end of the year or higher. I think there is a distinct possibility SILVER will overshoot and run past $70 and then consolidate as it hs been suppressed for much longer and has built up a sizeable head of steam. LOOK TO JUMP ON THE SILVER MINERS BANDWAGON.
Note
I am referring to being long on PRECIOUS METALS AND NOT LONG the US10Y and US30Y. Let's see what is in store for the upcoming month.
The Deeper The Better
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