Outrageous Predictions
Executive Summary: Outrageous Predictions 2026
Saxo Group
Read Saxo's Outrageous Predictions for 2026, our latest batch of low probability, but high impact ev...
You can access both of our platforms from a single Saxo account.
Technical Update - Metals ripe for short-term correction
Kim Cramer Larsson
Technical Analyst, Saxo Bank
Summary: Metals are ripe for a short-term correction before the medium-term uptrends are likely to resume.
Gold could dip below 1,800, Silver below 22 and Copper could test 400 before buyers are likely to regain control
Today's Saxo Market Call podcast.
Today's Market Quick Take from the Saxo Strategy Team
Copper seems ripe for a short-term correction. A correction that could take Copper down to test 400 i.e., 0.382 of the January move.
However, Copper is in an uptrend both short- and medium-term and buyers are likely to come back in making the possible correction a minor and short one.
Daily RSI is showing positive sentiment with no divergence indicating Copper to move higher.
Copper has retraced more than 50% of the Q2-Q3 2022 downtrend (see weekly chart) and is now back above 55 weekly SMA. Bollinger bands are expanding and RSI is currently above 60 threshold. If RSI closes the week above 60 medium-term sentiment is positive and will indicate higher Copper prices in coming weeks and months.
0.618 retracement at around 431 could be reached early in Q1 but there is room up to resistance around 447-457 .
For Copper to reverse this bullish scenario a close below 370 is needed.
Uptrend in Gold is short-term a bit stretched and the precious metal is ripe for a correction. Gold has broken the resistance at around 1,875 and could spike up above the 0.618 retracement of the Q2-Q3 2022 downtrend and above 1,900 before selling initiates a correction. A correction that could take gold down to 1,850-1,825. However, short-term intensified selling pressure could dip Gold down to 0.382 retracement of the past couple of months uptrend at around 1,783.
Daily RSI is still showing divergence and needs to close above the horizontal line to cancel that. If rejected the correction could be larger possibly down to test 1,800.
Medium-term trend is up however, supported by Bollinger bands expansion and RSI above 60. All Moving Averages are rising further underlining the medium-term bullish sentiment. A bullish sentiment that could take Gold to 1,970-2,000 going in to Q2.
Silver has step danced sideways out of the rising channel it was forming in November and December. A 0.382 correction down to 22 and a change is in the cards. RSI divergence supports this scenario.
However, if Silver breaks above 24.55 the uptrend is set to be extended.
Silver has almost reached its potential inverted S-H-S target and the above mentioned correction could test the Neckline from the upper side. However, there is room for higher silver levels with no strong resistance until 25,85-26. RSI is above 60 and no divergence supporting the bullish scenario.
However, if Silver breaks above 24.55 the uptrend is set to be extended.
Silver has almost reached its potential inverted S-H-S target and the above mentioned correction could test the Neckline from the upper side. However, there is room for higher silver levels with no strong resistance until 25,85-26. RSI is above 60 and no divergence supporting the bullish scenario.
Gold/Silver ratio is bouncing off strong support at around 74.57 and could move to resistance at around 82.20. A close above 82.20 and above 55 and 200 daily SMA’s is needed for further upside.
If Gold/Silver can break to close below 74 a sell-off down to 65-62 is likely.
RSI divergence explained: When an instrument price is making a new high/low but RSI values are not making new high/low at the same time. That is a sign of imbalance in the market and an weakening of the uptrend/downtrend. Divergence or imbalance in the market can go on for quite some time but not forever. It is an indication of an exhaustion of the trend
Latest Market Insights
Outrageous Predictions 2026
-
-
Outrageous Predictions
A Fortune 500 company names an AI model as CEO
Charu Chanana
Chief Investment Strategist
Can AI be trusted to take over in the boardroom? With the right algorithms and balanced human oversi... -
Outrageous Predictions
Despite concerns, U.S. 2026 mid-term elections proceed smoothly
John J. Hardy
Global Head of Macro Strategy
In spite of outstanding threats to the American democratic process, the US midterms come and go cord... -
Outrageous Predictions
Dollar dominance challenged by Beijing’s golden yuan
Charu Chanana
Chief Investment Strategist
Beijing does an end-run around the US dollar, setting up a framework for settling trade in a neutral... -
Outrageous Predictions
Obesity drugs for everyone – even for pets
Jacob Falkencrone
Global Head of Investment Strategy
The availability of GLP-1 drugs in pill form makes them ubiquitous, shrinking waistlines, even for p... -
Outrageous Predictions
Dumb AI triggers trillion-dollar clean-up
Jacob Falkencrone
Global Head of Investment Strategy
Agentic AI systems are deployed across all sectors, and after a solid start, mistakes trigger a tril... -
Outrageous Predictions
Quantum leap Q-Day arrives early, crashing crypto and destabilizing world finance
Neil Wilson
Investor Content Strategist
A quantum computer cracks today’s digital security, bringing enough chaos with it that Bitcoin crash... -
Outrageous Predictions
Taylor Swift-Kelce wedding spikes global growth
John J. Hardy
Global Head of Macro Strategy
Next year’s most anticipated wedding inspires Gen Z to drop the doomscrolling and dial up the real w... -
Outrageous Predictions
SpaceX announces an IPO, supercharging extraterrestrial markets
John J. Hardy
Global Head of Macro Strategy
Financial markets go into orbit, to the moon and beyond as SpaceX expands rocket launches by orders-... -
Outrageous Predictions
China unleashes CNY 50 trillion stimulus to reflate its economy
Charu Chanana
Chief Investment Strategist
Having created history’s most epic debt bubble, China boldly bets that fiscal stimulus to the tune o...