Stock Market Manipulation Allegations and Commodity Outlook

Summary

Stock market futures dropped overnight following the cancellation of US-Iran negotiations, a sharp contrast to the rally on Thursday after news of a US-Iran deal was moved up. The speaker alleges that the president is actively manipulating the stock market by timing positive news, such as the Apple-Intel chip deal, to distract from negative market movements. This news, which was also released by the president's office rather than the companies involved, is seen as a second distraction. Looking at commodities, gold is in a downtrend, with key technical support levels at 4,000 and then 3,900, followed by 3500. Silver also exhibits a 'bouncy ball' pattern indicating a downtrend, with potential support at $54 and then $50 to $40. Palladium is approaching a buyable level around $1150. Platinum is expected to see a flush down to the $1585 to $1500 range before potential entry. Copper remains bearish, with expectations of further declines. Oil is seeing a bounce, with a target of $80-$82, possibly $84, before potential further downside.