Silver markets have rallied rather significantly during the trading session on Monday to kick off the year, as the US dollar continues to struggle overall.
IndustryTraders remain optimistic ahead of the first trading session of the year.
IndustryOne new concern for OPEC+ is the change in the balance of risks to oil demand due to the surge in global coronavirus cases.
IndustryJapans factory activity ended a record 19-month run of declines in December as output stabilized for the first time in two years.
IndustryAUD/USD gained strong upside momentum and is trying to settle above the nearest resistance level at 0.7730.
IndustryGBP/USD settled above the resistance at 1.3665 and is trying to get to the test of the next resistance level at 1.3710.
IndustryThe direction of the AUD/USD is likely to be determined by trader reaction to the first pivot at .7697.
IndustryIn 2021, the Aussie and Kiwi are most likely to be supported by a number of factors but most hinge on control of the coronavirus.
IndustryThe focus will be on the two January 5 Georgia runoff races that will determine whether Democrats or Republicans control the U.S. Senate this year.
IndustryAs the world progresses in its fight against the pandemic, energy markets will get more support.
IndustryIt was a bullish final week of the year for the European majors. Vaccine updates and Brexit delivered support.
IndustryThe minor range is 102.886 to 103.899. Its 50% level at 103.393 is controlling the near-term direction of the Dollar/Yen.
IndustryTaking out .7742 will signal a resumption of the uptrend. If this creates enough upside momentum then the main top at .7812 becomes the next target.
IndustryThe crude oil markets have gone back and forth during the last couple of weeks, as we are trying to break out to the upside and make a bigger move.
IndustrySilver markets have printed a green candlestick for the week, as we have clear the $26 level and it looks like we are going to challenge significant resistance.
IndustryThe US dollar initially tried to rally during the week but gave back the gains to show signs of weakness against the Japanese yen.
IndustrySilver markets gapped higher to kick off the trading session on Thursday, but then fell to fill that gap before finding buyers again. Not much has changed.
IndustryThe US dollar has done very little during the trading session on Thursday, as most traders will be paying more attention to New Years Eve than anything else.
IndustryThe Euro will come into 2021 with a bullish head of steam, but its gains could be limited if ECB officials express concerns over its high value.
IndustryThe near-term direction of the February natural gas market will be determined by trader reaction to the retracement zone at $2.519 to $2.579.
Industry
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