Markets Continue Lower on Trump Tariff Confusion! Gold At $3,000! Silver Flying Higher!

In today’s GCI Market Outlook let’s take a look at Forex Trading on WTI Crude Oil, Silver, XAGUSD, Gold, XAUUSD, the S&P500, and the NASDAQ.

We looked at the NASDAQ chart last time and here it is with a perfectly formed bearish trend line as the sell-off continues.

Investor’s least favorite word is Uncertainty and we are still here.

If we look at the S&P500, we can see that we are now at levels of last September so any gains, post-US elections, have been wiped out and more.

So, where is all the money going if there is a sell-off?

Ironically, USD is getting weaker, not stronger.

This tells us that investors are turning to bonds as opposed to cash.

Here is another clue: Gold!

We may just be looking at that magical $3,000 mark.

The market uncertainty, along with Vladimir Putin’s casting a shadow over Ukraine peace talks, has boosted price action on gold.

As I said last time, we will need to hold off on technical indicators until the insanity in Washington subsides.

Silver is following gold on the way up and we are aware of the last spike in price action.

Just below $35, price action formed a double top and fell back down.

WTI is rallying a little bit but price action is approaching an upper trend line.

We may be looking at a technical short trade IF the fundamentals make sense at the same time.

We have a tremendous amount of economic news on next week, including Interest Rate Decisions from the Bank of Japan, the US Fed, the Swiss National Bank, and the Bank of England.

The central banks will be very confused now so, be careful.

That’s all for now.

CFDs and FX are leveraged products and your capital may be at risk.