Disagree. My range $13.9-$13.1 with closer to $10 possible long-term.
TruKING852
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Euro could have another 100pips rally, therefore supporting metals in the very short term.
FUNTRADER-Vera
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@howard1127, hmm, I think on daily chart, EURO is bullish now .
TruKING852
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though we could see a quick short cover to $15 level, fundamentally metals sector still have lots work to do
FUNTRADER-Vera
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@howard1127, I think $15 has a bigger chance.
TruKING852
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@FUNTRADER-Vera, sure while $15 is achievable on a short squeeze, but a sustainable break above $15 requires some fundamental change.
but with trade war, upcoming fed hike, year-end tax loss selling, it's hard for me to see it break above $15 and stay above.
maybe you are right, im just focusing more on fundamentals than just look at chart and price action. =P
TruKING852
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@FUNTRADER-Vera, the best bet for a sustainable close above $15 is if they strike a trade deal with China, which i very much doubt at the moment..but who knows...Trump is full of surprises...
TruKING852
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i actually see $14 retest first. Still a lot of headwinds fundamentally for the metals imho..