trading Monday, on some safe-haven demand and short covering by futures traders as the market place is not as panicky as seen on Friday, but by no means upbeat, either.
The marketplace is a little less spooked about the new Omicron strain of Covid than it was Friday, but by no means can trader and investors attitudes be termed upbeat to start the trading week.
The general sell off in the raw commodity futures markets Friday, led by crude oil, has some wondering if the inflation scare has peaked.
Bears’ next near-term downside price objective is pushing futures prices below solid technical support at the November low of $1,761.00.
The next downside price objective for the bears is closing prices below solid support at the September low of $21.46.