Founder & Chief Market Strategist - SAV Markets, SAV Markets

Shyam Devani

Shyam Devani provides key market commentary encompassing analysis of Foreign Exchange, Fixed Income, Commodities, and Equities globally – both in G10 and Local Markets. He takes a multi asset class approach incorporating fundamental, behavioural, and historical trends as well as technical signals.

Shyam has delivered strategic market insights to a number of trading desks and institutional clients internationally (funds/corporates/banks) through written publications, presentations, face to face meetings and conferences. He has had numerous appearances on CNBC, Bloomberg, and Singapore Radio providing his short and medium term views on markets while being the front office media commentator during his time at Citi.

He has been commentating on financial markets since 2004. Since 2006, he was running one of Citi’s top market products, CitiFXTechnicals, initially in London followed by Singapore where he took a lead role in enhancing the coverage of markets in Asia.

Founder & Chief Market Strategist - SAV Markets

Cross Asset Strategy

Multiple Countries / Cross Asset Strategy

The price of Silver has closed below the 200 day moving average for the first time since May 2020. This development draws some attention. While it is not a break in itself, any lower through $24.05 on a close basis would be meaningful bearish sign.We also review the weekly Gold chart which continues to look concerning as we sustain below the 55 week moving average .As Bonds remain stable and the USD looking increasingly bid across many pairs, it is perhaps no wonder that both Silver and Gold are under pressure.

The price of Silver has closed below the 200 day moving average for the first time since May 2020. This development draws some attention. While it is not a break in itself, any lower through $24.05 on a close basis would be meaningful bearish sign.We also review the weekly Gold chart which continues to look concerning as we sustain below the 55 week moving average .As Bonds remain stable and the USD looking increasingly bid across many pairs, it is perhaps no wonder that both Silver and Gold are under pressure.

No Silver Lining, No Golden Egg