Apologies for the delay in releasing technical comments and the Swiss team’s report this week. If you had experienced my travel arrangements (in sea storms) over the last 48hrs you would understand.
At these levels instruments could see a step change in volatility as ive been saying over the last few weeks. On yesterday’s price action we are below the “swiss” key level spx 2046. Major US indexes wise the small caps 600 (SLY) support is very close to hand. If she goes the 93 area would likely occur as a high volatility breakdown opening the door to a suburb asymmetric near dated entry. The bullion is very promising here and now technically. She needs to get above the prior high to really see momentum flood back into the instrument. On a macro level the bullion is one of the last assets that has not seen a bid. Its entirely logic that the asset class now sees paper inflows to mirror the physical inflows that have long been occurring.
Without delay here the report and apologies again for the delay.
All the best
Rich