With the looming "confidence" vote in Greece, I expect the PMs to be rather quiet again today. Greece, however, will not likely be quiet. Here are three articles to consider.
First, Gonzalo Lira sums up the situation quite nicely:
Next, the BBC questions whether the Greeks will make a move for outright revolt:
And if you think that sounds crazy, read this:
Two quick charts to start your day. First, here's an updated silver. For the past 3 or 4 expirations, we've had great fun and made quite a bit of money trading options. This time...not so much. Maybe the fun and games will begin anew in August, as we move toward September delivery.
As we discussed yesterday, I think it's going to be tough for the PMs to get any real traction until/unless crude gets back above $96. Unfortunately, this will be no easy task. It looks a lot better than yesterday but still has quite a bit of work to do.
OK, that's it for now. As I finish, the metals are rallying so we'll see if they can continue to catch a bid. Be sure to watch how gold acts as it approaches 1550. TF
TF Metals Report is supported by voluntary subscriptions and donations. DONATE TODAY!