Mon 07 May 2012 11:39:09 CT
A big range down extension in July silver once again extended the pattern of lower highs and lower lows on the charts. With copper prices managing to claw their way back into positive ground this morning, it would seem like part of the high anxiety off the French leadership change has come under control and that in turn might take some pressure off industrial commodities and the equity markets. However, for silver prices to recover consistently, probably requires definitive hints of easing from the US Fed, action by the PBOC to ease or suggestions from the new French leadership that they don't intend to go back on fiscal promises made to the EU. Since silver is trading like an industrial commodity market, it might continue to be under pressure until the overall macro economic outlook improves. #END:
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