Crude Oil sitting @ support 50.28

Inventory numbers will be out @ 10:30 EST ~ 50 minute time.

The way the tape has traded all week it seems the ESF/FED are concerned about this market running away on foreign inflows while US Banks park capital outside the US…

Yellen speaks on Sunday… suspect there is a surprise within her remarks.

A retracement is pending, a larger one that will provide opportunity when this market finally congests and lift’s off.

For now, it’s looking s great deal like we’ll be heading down into November/December – perhaps we make a new high, perhaps not… it’s not looking healthy for the Bulls.

Aggressive Bid under Au

Gold has been bid heavily since last Friday, there remains a firm hand under the market.

Pullbacks are to be expected – 1272.25 remains an important area. We did not see price dip-in to the 1240s – ideally 1246…

Silver has been outperfroming Gold – an excellent sign. The bid under Silver remains extremely strong.

Targets – barring a break of support, are north of 1400 for gold and 20 for silver.