If you checked my earlier yellow metal idea the case is same here!
Comment:
The Fed’s going to remain on hold for the foreseeable future, as long as GDP growth and inflation doesn’t move outside of the bands that we’re stuck in, anchored right around 2%,
Comment:
A rising wedge formed after an uptrend usually leads to a REVERSAL (downtrend) while a rising wedge formed during a downtrend typically results in a CONTINUATION (downtrend). A continuation chart pattern seems to be in play at this point reading the price action.
Comment:
The economic impact of limited international travel and trade as well as businesses closing their shops have weighed on high-yielding bets and boosted safe havens
