11am update - metals trying to stabilise

Whilst the main indexes see further very minor chop, the metals are trying to build a secondary floor. SLV is offering a potential back test against the broken channel..with a higher low. A daily close anywhere in the low 22s would probably be enough to cement a short-term floor. Oil is weak, now -0.6%.


SLV'60min

USO'60min

Summary

*I am long SLV from the 21.40s, best hope for later today is somewhere in the low/mid 22s.

I honestly don't know how the metals..or the broader market will react to Bernanke tomorrow.

Oscar - who is sure right a lot of the time, would probably be inclined to say Benny will be the excuse market wants to sell down into the 3 day holiday weekend.
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