10 YR Yield, Silver, DAX and Crude Oil Forecasts – Multiple Markets Moving on Thursday

US 10-Year Yield Technical Analysis

The US 10-year yield is the first thing I’m paying attention to on Thursday as it does continue to climb. We’ll have to wait and see if we can break above the 4.10% level because that could have a major influence on the US dollar against multiple other currencies, but it also can have a bit of an influence on some of the other markets that I’m watching during the session.

I do think that the short US dollar position is unwinding a bit, so watch that. I do think that the 4% level is important. If we break down below there, that could lead to a huge rally in bonds, obviously, and it could, depending on the context, have a major influence on other assets.

Silver Technical Analysis

The silver market is the next market I’m watching and $80 seems to be very important. It’s really not until we break above there that I think we start to pick up a bit of a bid. My question here is: are we finding a tighter range? I think we are and that range could be $80 on the top, $70 at the bottom, with $85 being the midpoint.

If we can break above $80, then it opens up a move to $85, but right now it certainly looks like we are making successive lower highs. We’ll just have to see if we can make a lower low. In the short term, I suspect you stay range bound.

DAX Technical Analysis

The German DAX is something I’m watching as well. This is one of my favorite indices long term and we are seeing a bit of support here at the 25,000-euro level after a significant fall. It’s worth noting that there was a gap on the previous session and now it looks like we are jumping in as we have filled that gap to try to push to the upside.

25,600 remains my target. I do like buying dips. We’ll have to see if we get a little bit of momentum and probably be looking at 1-hour charts or something like that to take advantage of a continuation of what’s been a pretty strong trend recently.

Crude Oil Technical Analysis

The chart that everybody is going to be paying attention to, or I should say the asset, is going to be the crude oil markets. Right now, the light sweet crude oil market is struggling with $66.50, a level that’s been important multiple times going back to 2021 at the very least.

If we can break above there, that opens up a bigger move, maybe to $70. There’s a lot of tension out there with the idea of the United States attacking Iran, and of course, we are heading into summer driving season, so I think a bit of an elevated price makes sense. Watch for failures, though; that could lead to a pullback. I’m not looking to short the market; actually, I like the idea of buying dips.