This should hopefully serve as a continuation to my previous 'bearish' gold chart. I am long term bullish, but expect a DXY bounce out of oblivion to put commodities in general under pressure.
I think once our long-term EMA is crossed we may expect another chop around below that level into July/August. Gold base should form around 1660/1680, highs will come swiftly once back above the 200 EMA. DXY may reach 100+ where bond yields continue to rise.
Good luck out there!
I think once our long-term EMA is crossed we may expect another chop around below that level into July/August. Gold base should form around 1660/1680, highs will come swiftly once back above the 200 EMA. DXY may reach 100+ where bond yields continue to rise.
Good luck out there!
Comment:
See my latest thesis, where I predict the MARCH ARCH, providing support before resumption and re-test into JULY. Consolidation over/breakout in August.