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Can A Dollar Decline Lift $GLD & $SLV? | Midday Market Minute | 5.16.22

Posted: May 16, 2022, 12:11 p.m.

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Key Takeaways:

-3970-3975 held in the S&P (Major 3 Star Support)

-12,200 is major support for the Nasdaq.

-Market is overdue for a reflexive bounce across the board (Crude Oil is above $113.00)

Morning Express Research Highlights All Support & Resistance!

-$1786 was the overnight low in Gold, holding support, but needs to gain traction.

-If the US Dollar reverses, we think that will be the catalyst for the metals to gain some positive footing.

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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

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