Real yields are the main driver of precious metals. Currently, the Fed is transitioning to a dovish stance while inflation is expected to remain above 2% over the coming 6 months, this is extremely positive for Gold.
65% of crude oil demand is derived from gasoline, with economic conditions weakening we are now switching from supply side issues to potentially demand-side issues. Watch for lower levels of demand for Crude over the coming weeks.
Silver has formed a bearish pin bar setup. There is a bit to be desired in this setup, but I think it does set up an opportunity for price to break lower and retest the 14.80 region. In regards to the pin bar, the real body is sitting a little bit high with a little too much bottom wick. I think it weakens the pattern a bit, but it is a fake out none the less...
Dollar index is testing its lower support channel and could have a strong bounce, which in turn would send precious metals tumbling. Gold miners are looking bearish on the daily chart and I expect a move lower this week. See more videos at www.TheTechnicalTraders.com