Gold and the FED “However, the FED news could be a catalyst which we believe would be higher.” By Todd Horwitz, Bubba Trading.

 

Over the last couple of weeks our message on the metals has been the same, they are in consolidation. One thing to remember about this pattern, we have no expectation of change until it does which means it breaks out in one direction or the other.

Because markets don’t announce their intentions, we have continued to monitor the market footprint looking for answers. Our bias remains bullish but are not involved within this trading. There will be a breakout but when and which way are the answers we are waiting for

Today is FED day where the group of 12 FED governors will tell us their decision on interest rates. Market expectations are that the FED will remain accommodative which has already been priced into these markets. There is talk that the FED could talk about cutting rates instead of hiking. We don’t know if gold and silver will breakout of their ranges today. However, the FED news could be a catalyst which we believe would be higher.

Todd Horwitz
Chief Strategist
BubbaTrading.com

Financial Markets and Political Commentary
 

Tags

, , , , ,

Related Posts

About the author

Todd Horwitz - Author of “Average Joe Options“. Todd began his trading career in 1980 at the CBOE. He was one of the original traders in the OEX & helped start the SPX. He is a member the CME where he trades S&P futures as well as foreign currencies & is a regular contributor to CNBC, Bloomberg, BNN, Fox & many other major news networks.