06:45 Gold $2300, Silver Suge Continues to 2 year High : Oil eyes $90, Copper at 12 Month Highs, Dollar Index Below 104 as Basic Resources Continue to Outshine
Gold’s brief dip yesterday was quickly bought as it rallies to the $2300 level
Brent also rallied overnight to new 6-month highs while copper made a new 52-week high yesterday as the dollar index eased back below $104
The UK indices started yesterday in red but rallied into the close as the US opened in green breaking a two day sell off with a weak rally back to the 8EMA in the S&P which was rejected as tech sold-off – green in the UK concentrated in oilers, miners and banks – see heatmap
US similarly showing strength in Energy, basic Materials and Industrials as the rotation gather strength and inflation leading indicators continue to flash
UK Heatmap Wed 3 April 24 EOD
US Heatmap Wed 3 April 24 EOD
Oil rallying towards $90
