New Zealand’s central bank will be closely watching inflation expectations to determine whether it needs to raise interest rates at a faster pace.
Trade accordingly with your risk.
Silver posted a low above 23 last week, and on that it is now starting to make good on forming out the right side of an inverse head-and-shoulders pattern. A clean daily close above 24.86 will have the neckline of the pattern broken and confirmed.
Looking at the depth of the pattern, the projected target based on measured moves is up around 28. You get this by adding the depth of the pattern to the neckline. The first big test, though, will arrive at the 200-day moving average at 25.36, and declining.