Metals: Current Rally Likely in Consolidation Phase; Ira Epstein's Video for 4-22-2026

Añadido: 2026-05-04

[00:00:14]Well, good evening all. I wrap seeing with your metal market wrap-up in this wrap-up is for the evening as we're here now on Wednesday the 22nd of April 2026 6:10 p.m. Central time. You know, I did an update this morning my morning flash and it was no voice in it again. We're aware. So what we've started to do is buy new equipment to try to locate isolate which piece of equipment is bad. So we began that. The software looks like it's doing what it's supposed to so it's going to be one of the many connections that you do in order to do this. I mean it's a full studio. So we're replacing the pieces that we think might be failing. There's no way to tell. They act like they're working and they do and then they go out and then they do. So we've begun that.

[00:00:56]So I apologize and the way my schedule goes in the morning once I record, I'm on to the next thing that I'm doing between 5:00 in the morning and 9:00. I don't have the time to breathe.

[00:01:08]All right.

[00:01:09]When we look at the markets, you know, we keep getting the news of the politics and so on. We're going to get both in the morning jobless claims, the Chicago Federal Reserve March national activity index. We're going to get P Global Group the April preliminary and these are prelims manufacturing and service sector PMIs. That's going to be important. EIA natural gas storage, another one that everybody will look at. How much are we getting abroad and I'll come to that in a minute moving our products and the KC manufacturing composite and business activity indices. The funny part to me was today my wife went and she filled up the car and she calls me. She goes, "Do you know what it cost to fill up the car today?"

[00:01:53]And I'm going and she told me and I'm going, "Well, this is what we're dealing with." And she goes, "Wow." She doesn't remember it costing her that much and we're in a one of the areas. It's not Chicago prices, thank God, and it was expensive. So that's what we're all dealing with and this is, you know, put the Trump administration, no question about it. They're on the ropes. If you look at their ratings, it's not strong and if you look at how they're handling inflation and so on, they're getting very poor readings. He's He He can't point to that. Here's what he keeps pointing to, the stock market. It keeps going up. It makes those that are invested, but not everybody owns stocks.

[00:02:32]Yes, the corporations are necessary.

[00:02:34]They're the ones with the jobs and so on. So we see all that and and it all ties in and I apologize if sometimes you don't like the politics that I talk about. I am not on either party. I'm not a Republican. I'm not a Democrat and I'm not an independent.

[00:02:50]I'm where I think things belong. I I I was with a party for a long time and I started saying, "Why am I not crossing over?" Those are the things that I like better and I did that and I crossed back and that that's everybody's personal choice. But when you say, "Don't pay attention to politics." What is wrong with you?

[00:03:10]What do you think you're trading?

[00:03:11]You're not trading right now if you're in the oil market. You're not trading oil that's fairly valued at $95. It's up there because of the politics. The straight up or moves is closed. What's wrong with you? You don't get that? What do you think's moving some of the metals? The interest rates. So it's not that I want to talk politics. You can't avoid it, all right, if you're a futures trader. And unfortunately, ETFs, many of them are based on futures markets.

[00:03:39]Another thing going on, we're about to go to perpetual futures on cryptos.

[00:03:46]Very fascinating and that's giving some of these companies another run, too. So that'll be a fascinating part. It's probably why we put back the market towards the 80,000 level. That's probably my guess. It'll become more popular with that and we'll see how this all goes. All right.

[00:04:04]Energy markets should see pulling back a little bit. You're down 180 in the stock market. The S&Ps are lower, too. We'll come to those charts in a minute. Metals giving up a little bit of the gain. I like gold and the reason I like gold long-term, I'm about to do a gold study for you.

[00:04:22]And it's because I think inflation's not going away anytime soon. So as the market gets away from the war scenario, we go back to the inflation talk and we'll do that in the report that I put out. When you look at gold, am I surprised that we're hanging here in this 4785 level? If you've been watching what I've been putting out, it's what I said I think's going to happen. I think the market's overvalued up here, undervalued there and it wants to pull back here. And where might it go? Even my son called me about gold and he said, "Dad, wants to sell some of his gold. What should he do?" I said, "Read my report." Which I haven't done yet, but I did give him the end.

[00:04:59]I'm putting in pretty much my thinking.

[00:05:03]When we take a look at where you're at, remember when this market came down and we went from all the way up here and we came back here and I said, "I think we're going to make a 50% retracement and have to hang in there." That's what we're pretty much doing. The next step in the market, the pattern right now is bearish. You have lower highs lower and lows. Where's the market in relation to the 18-day average? We literally added.

[00:05:26]I said yesterday when that happened, you're already at the numbers. It's very hard to do anything right there, but the bigger story is right in front of you.

[00:05:35]Look at how the Bollinger bands are narrowing in. That means volatility is coming out of the market. The longer it can spin here, then I think the story develops. Takes a while. That's what I think's going to happen and that'll be in my report and you lost the bullish momentum way back days ago and that's why you're pulling back and that's I think hand in hand. Remember, I believe that momentum leads price, not price leads momentum. It's not every time that does it, but it's the majority of the time from everything I've seen in my nearly six decades in this game. And once you learn momentum and you apply it onto the charts and play with it, it helps. That's all I can say.

[00:06:18]When we look at the gold-silver ratio, as long as you stay under the 18-day average, that means that silver has a bit of an edge. The lower the number goes, the less ounces of silver you'd put up to get an ounce of gold. When we look at the silver market, like the gold market, it's in a corrective phase. It got itself up and over for the first time the 100-day average to the Bollinger band.

[00:06:42]Go to my videos here. I said, you know, that's where the pros I think are taking money off. You haven't gone anywhere.

[00:06:48]You're pulling back. Let it do its thing.

[00:06:52]In the copper market, this is stellar. I mean, these are the most recent highs.

[00:06:56]The market's not scared of it. Now, I don't think you're going to 680 on this run unless some world event happens, which could be strikes in Peru, Chile and all that.

[00:07:06]There could be that, but I'm not hearing that. So it'll be interesting to see.

[00:07:09]You've got your embedded reading. These breaks keep getting bought, but what did you miss if you didn't pay attention?

[00:07:16]Cuz I said with this I think the market will make a move. Let's see if I can get this to move on us. There. Let me see.

[00:07:22]There's a delay, but it There it comes.

[00:07:23]Okay.

[00:07:25]And this is what I want to show you. We talk and I teach in my full charting course crossovers.

[00:07:32]And this was a bullish crossover. The 18-day average to the 100 crossed and I said, "When that happens, it's often a prelude, not every time, often, that the market's going to try to go for the most recent high."

[00:07:48]You think that happened?

[00:07:51]Okay.

[00:07:52]So you get edges and that's what it is.

[00:07:54]It's putting pieces of a puzzle together and sometimes they work, sometimes they don't, but you try to teach things that work more times than they don't work.

[00:08:03]And then it's what the market does with it because at the end of the day, the market's very much a random walk. If it weren't, the AI systems that are out there should be having everybody's money and the game is over. I haven't seen that. I get all the ads with all we are ahead 300% on these and I go look at the stocks. Never even heard of them. You know, half of them. They So that's the reason. Some of these games are too thin to trade and so on and so forth. I'm not saying that's always the case. I'm giving the practicality of what I'm saying. You think I haven't seen in my career, I've got the holy grail and this is how things are going to work? Sure, I've heard those stories.

[00:08:43]Higher high, lower low, but you're also doing this. Higher lows, I'm sorry to say that. Higher lows, higher high. Bull trend stopped at the 100-day average to the Bollinger band pulling back and correcting an overbought market. Getting interesting.

[00:09:00]In the dollar, you lost the bearish embedded reading. So what do you do with that? Well, it doesn't have to go to the 18-day average. My rule is it goes to the closest main moving average and it did that when it lost it. It went to the 100-day. Anything beyond that is just gravy as I see it.

[00:09:17]So that's how you start looking at the markets from what I can see. And one of the things I like to do is teach it.

[00:09:23]Now, all you need to do is take out a week of your time, a half hour here, half hour there, two weeks, whatever it is. It's not a race. I'll teach you swing lines.

[00:09:34]I'll give you the charting software that puts it on. You can put any charts you want on it.

[00:09:39]Moving averages, show you how to use the ones that I use and the theory. Slow stochastics, the way that I do it. My charting software, the ones from QT and the one from Linn Group platform, both, LGP we call it, both have what? They both have my version of the slow stochastics in them, Bollinger bands, window envelopes. How do you use all this? And how it comes together. Now, it's all in a video. So, when you do a video by its own nature, anything you're showing in a video is past tense, right?

[00:10:10]So, I show you that. Our charting software will take you back to that point in time.

[00:10:15]Then I do something else. I give you 30 days of all my research with it. So, you're going to get the full if you're not a current subscriber, obviously.

[00:10:24]But, let's assume you're a subscriber to the morning uh futures video. I'm going to throw in the full research there and the ETF. If you're just the ETF, the other. If you're full research on uh everything, well, you already got it, but you're going to still get the charting software, which you probably don't have.

[00:10:41]So, there's something for everybody.

[00:10:43]This is not expensive.

[00:10:45]Just go to Ira Epstein.com courses.

[00:10:50]You can move your cursor right up here as well. We'll have a link there you can click. There'll be one here if you're watching me on uh YouTube. Ira Epstein.com, not difficult. I'm Ira. You have yourself a great evening. I'll catch up with one and all. First thing, in the other videos. Second thing, the morning flash. Take care.