Quarterly Outlook
Fixed Income Outlook: Bonds Hit Reset. A New Equilibrium Emerges
Althea Spinozzi
Head of Fixed Income Strategy
Technical Analyst, Saxo Bank Group
Copper is breaking below both the lower short term rising trend line AND its support at around $420/lbs. RSI is below 40 and if the days closes here or lower down trend has been confirmed. Next support is around $405-400
Platinum is still holding on above support at around $892/Troy oz. Trend is down confirmed by RSI. However a rebound from support is not unlikely. A close below and the is no strong support before $842.
Palladium broke below its support at around $1.690/Troy oz resulting in accelerated sell off.
Next support is at around $1.500.
Gold XAUUSD is seems to be rangebound between $1.760 and 1.800. No clear direction before break out. Below next support at around $1.718.
Silver XAGUSD is trading in a short term falling channel and could be testing the support at around $21.42 with a few days. A bounce from here could take the precious metal to around 23.00. A close below and there isn’t any real support before around 20.00
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