22.04.2013 - Potential “bear flag” patterns forming on gold and silver charts
The precious metals continue to consolidate after the major losses suffered early last week. Given the reaction to China GDP last Sunday, it will be important to keep an eye on HSBC China PMI due out on April 23rd at 2:30GMT. There will also be some important data to monitor out of the US this week such as Existing Home Sales, Durable Goods, and Advanced GDP. Given the recent misses in global economic data, any further misses will not likely bode well for commodities markets in the coming weeks. The US Dollar Index remains fairly range bound, but any strength would also be a negative factor for commodities prices in coming sessions...............................................Full Article: Source
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