There appears to be a short-term Wyckoff accumulation riding the front of a longer-term accumulation. While yesterday's pump seems premature for a "Spring" move, and we may even get a small, short-term dip in the next few days, momentum appears to be building for a big move up in coming weeks. The monthly support level, last visited in Feb., '18, seems firm as June begins.
Comment:
The momentum jump on such a small move, along with the possible hidden bear forming (13 May to 04 June) also insinuates a retest of 90.1xx before a final move.
Comment:
DXY is popping, as expected, though maybe just a little faster. Fingers crossed for a rejection down to the neighborhood of the monthly resistance before a bounce in the 91.3 to 91.5 range. If this is not the spring move from the accumulation, and we get the movement I've just described, I expect rockets on the bounce through July and maybe beyond.
Comment:
That last comment should have read, "...*from* the neighborhood of the monthly resistance..."