10-Year USTs need to fill the Gap and break out of the current ranges to initiate a decisive trend. Until ranges hold I remain cautiously monitoring the price action ahead of the end oof QE2.
Copper is consolidating inside a tight range and looks like a Descending Triangle is in the making.
It is a bit early to call a breakdown, however if we see a close below 407, Copper should slide to the next support at ~360.
On the upside the Major trendline (RED) is the important Resistance guide to price action.
Gold seems weary of the slow grinding higher and at a trendline Resistance with technicals screaming for a pullback if not Reversal.
Silver produced a large DOJI. Could be a blow-off top of just a temporary indecision.
Next Support comes around 42 and then will see which one is the case.
S&P 500 coils higher on low volume.
USD is trending inside the down channel.
Compalcency rules the market.
