The debt ceiling decision is on the clock with an early August deadline.  I expect a last hour agreement to raise the debt ceiling.  This may give the US Dollar a boost while gold and silver may sell off.

This, however, will just be a temporary event as the real debt problem is still not being addressed.  Kicking the can down the road will only be bullish longer term for gold and silver so I would expect those longer term up trends to continue.

The Dow hit the MTPredictor daily minimum wave 5 target while Goldman Sachs found some buyers at major support.

Check out the rest of the analysis featuring the MTPredictor Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex.

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Tags: commodities, Dow, elliott wave, elliott wave software, fibonacci, fibonacci trading software, forex, futures, gold, mtpredictor, mtpredictor market update, silver, stocks

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