Federal Reserve Meeting.!
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Dear Investors. The Federal Reserve will start its two-day meeting, to discuss the U.S. economy, and President Biden's $1.9 trillion dollars Covid relief package. The bond market is waiting for results from the meeting. Silver technical analysisMonthly chart. |
The price is meeting support and expectations are for a continuation higher from the monthly perspective. |
Weekly chart. |
The weekly time frame shows that the price is meeting the resistance of a 38.2% Fibonacci retracement from which a downside continuation into the demand zone would be expected. |
Daily chart. |
However, on a break of the weekly resistance, the daily chart will be well on its way to test higher resistance and forming a W-formation. Credit: FXStreet
What is Wall Streets' biggest fear: inflation...!!! Inflation is now the top risk cited by portfolio managers polled by Bank of America.
Much success to all...!!! |
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