***TRANSCRIPT***good morning it’s Thursday October 5th about 6:00 a.m. Central Time overnight the precious medals are mixed after yesterday’s lackluster performance you have gold up $21 1837 Silver’s up 15 2129 Copper’s up one at 357 and platinum’s down three at 871 so bond yields had subsided yesterday and overnight you’ve got the dollar Index facing about a two-day correction I believe that new new Longs coming into the gold and silver market they’re a bit skeptical at this point you would naturally think that these pullbacks with silver below $21 would ignite a fury of buying at these lower levels same thing with the gold market pressing those March lows you would see a lot of Traders come in anticipating a longer term stance on the FED where they begin to cut rates I think that they’re looking at this as a party and how I put it in that perspective is is that when you go to a party and especially your wife will she’ll address it this way you always want want to arrive fashionably late you want to meet with all the guests you want to enjoy all the food you want to socialize as much as possible but when it starts getting a little bit too late you’re going to have to leave before the police come and I put that in perspective with the crude oil Market we saw the breakout in crude oil above the 7250 level crude oil Futures rallied up well over $90 pushing new contract highs it was a great party while we were there however the house is on fire right now and we’ve got some substantial correction you saw crude oil price break about 5% two days in a row they’re down a bit here today they are coming back to support as the fire department is putting that fire out so we’ll be looking at crude oil back to the long side now if you look at some of the economic data that’s coming out today you have us trade data you’ve got initial claims we want to see an uptick in you initial claims as we saw that payroll data yesterday coming a bit weaker now there are several speakers that are coming out from the FED later on today so there will be some volatility and it’s kind of it’s some noise that’s in the background at the moment now the trend here on the gold market similar to the silver market are both bearish this is according to the trend following system that I utiliz and programmed the resistance level here is 1842 1848 and 1854 on gold so right around you see anything in those High 1840s to the 1850s be on the lookout you’re a little bit overweighted you might want to take Just a Touch off here on the support side 1824 1811 and 1798 so we have that dreaded 17 handle it still strikes again the trend reversal point on the gold market it’s coming down remember it was over $100 a couple days ago now it is only um we about $90 away so it’s 1928 so it’ll come down and especially as the gold market consolidates so look at the 3-day price action we haven’t broken a newer look new lows so um that’s what’s going on on that Trend reversal point on the silver market Trend reversal Point 2367 so still way up there over $2 higher the 200 day moving average is 2407 your resistance levels here 2141 2166 and 2190 so quite volatile uh to the upside so there’s these big Pockets here where prices could really run and I do think that silver is going to be the one how Platinum was kind of the leader before now I believe that it’s silver is the one that’s going to lead us out of the charge the reason why I say that is the gold silver ratio 8868 7 it was in this consolidation range about 83 to 85 so it’s on the upper end of the band I think it overstretches and it breaks to the downside and one thing to note a lot of people were talking about silver manipulation things like that I think really the problem with silver at the moment right now is that one of the big demand structures that had been leading prices higher the 25 26 level recently has really been um some of the green energy technology some of the green energy energy initiatives that that different various countries have been taking and as you get Rising interest rates those types of projects tend to be paed because they are intensely Capital uh Capital intensive they require um lower interest rates in order to stimulate that because they’re often paid by government subsidies which remain flat so as you get those higher yields the borrowing costs go up and the cost of doing those projects is greater so I think that that’s really the thing with cver you get the retrieve the reprieve on the interest rates you’re going to see silver lead us out of this thing so um looking at the outside markets they’re weaker here after yesterday’s short covering rally in the NASDAQ and then the US dollar down five now down 7 10646 you got crude all Futures down a150 I like the March contract trading at $77.64 right now I think it’s a good longer term positioning if you see the uh inflation start to pick back up again that’ll be the one that is most susceptible to a rally and then finally you got 10-year treasury yield sitting down one at 472 you got any questions give me a call I’m going to launch a um technical analysis video here today I’m going to probably shoot that out around like 2:30 record it at 2 kind of just break down the four metals that we’re looking at Gold Silver Platinum and copper maybe even throw Palladium in the mix as it’s about a sixe low and uh just like two minutes on each one flip it out here the reason why I don’t do charts on this one is because of the fact that it is mainly geared as a podcast so it goes on Apple podcast goes on Spotify and all over where a lot of people listen to it internationally that don’t have that video content feed so you got any questions give me a call 312-8581 3 remember Futures and option trading does evolve risk loss being not be suitable to all investors good luck and good Trading