The interesting part is that gold has yet again broken the recent highs, which like we were discussing in the 'Key Hidden Levels' chatroom, might be warning us that there is a Megaphone type pattern unfolding here, contrary to popular belief that this is a consolidation before a giant uptrend starts in Gold .
The gap up in ZN1! is really remarkable here as well, it might give way to a very strong topping pattern soon.
has hit a monthly resistance, but is currently above it. I'm waiting for the month to close to more precisely determine when to short it (if at all). For now you could maybe trade shorter term long setups in it, although it might be dangerous in this climate.
The bottomline is, that for gold and 10 year notes to top, we needed mass hysteria to reach the boiling point and I think this might be it. We'll need confirmation to enter shorts, but if you're long, look to trail your stop or get out, that's my personal reccomendation. The same is true for longs.
I'll update the chart once we get a good short setup in either of these instruments.