Treasury Yields are Pushing Higher and Metals Remain Resilient!

Transcript:

Good afternoon traders. It's Chris Chavez with blue line futures and it's your daily, midday market minute, continuing to see higher treasury yields and precious metals remaining resilient. Before we get to it, if you're watching this video, like and subscribe, if you're on our website, there's a link to directly to YouTube. And you can subscribe that way. We would love for you to follow us and we would love for you to help us build our following. Yeah, looking at the metals here, we're continuing to remain resilient, slightly in positive territory when looking at the gold market silver outperforming and platinum and palladium really pushing higher here today catching a bit of a bid. And I do think that this is really interesting, again, continuing to see weakness in treasuries higher yields. And despite that metals are remaining firm. Now Bitcoin also showing a very strong day here today really want to see us break and close above 72,575. On the front month futures contract that's April, but it's definitely looking like the trend in you know, Bitcoin prices and crypto is still pushing higher after today's pop, again, want to see us break and close above that level, this week is going to be very important for interest rates, we're gonna get bank earnings at the end of the week, and also CPI. So you know, depending on how this week shakes out is could be a pivotal moment for the metals, you start to see maybe weak bank earnings coupled with hotter inflation data potentially, you know, that may actually provide more strength in the metals to continue to run, even though inflation is coming in hotter. And you see yields potentially would push higher off of that, if you see some weakness in bank earnings, you know, that could provide a little bit of a safe haven bid to to some of these traditional safe haven assets like gold and silver. This morning, we didn't get a lot of economic data, just New York Fed one year inflation expectations that did come in at consensus estimates of 3% Not a lot of data to pay attention to tomorrow, but we will get a Chinese loan data so very important metric there to pay attention to specifically for the metals can see a little bit of volatility there looking at some of these levels to pay attention to three star overhead resistance for the s&p 50 to 60 and three quarters to 5263 and three quarters three star resistance level for the NASDAQ 18 372 18 375 Gold crude oil rather three star support 8464 to 8493. And looking at the silver market, if we can manage to stay above 2693 to 2697 really just shy of $27 there I think we continue to see higher price prices we continue to carve out you know some some higher, higher lows in in the near term here. And if you have any questions reach out to our trade desk we're here for you. Remember, futures trading involves substantial risk of loss and is not suitable for all investors.

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