In this report I cover the early market action from London on Monday, June 11th, 2018. I look briefly at the the dollar, the stock market and the bond market. I also note that the Federal Reserve's FOMC will be meeting on Wednesday, June 13th and that hey are expected to raise their target for the Fed Funds rate.
I look closely at the technical picture for silver and gold and note that the precious metals are waging a mighty battle against the central banking forces or the bullion banks. Silver especially is trying to breakout from a long term triangle formation that could see its price move sharply higher if it happens.
My conclusion is that we are close to a breakout and that if it happens the FOMC meeting on Wednesday could be the catalyst and I also think that silver would lead the way and that the gold price will follow.
I also go overt the current EOS BP voting that is taking place to pick the inaugural 21 BPs or Block Producers necessary to validate the EOS chain and get the network going.
