I was expecting dxy to reach 95 and reverse down on nov 24th with a massive drop for gold in nov, however dxy failed to stay above the white trend-line on that day lol. Currently dxy is forming a falling wedge with potential target to 88 zone around mid-late Jan, which is also the timing that I think gold will fall again.
Daily chart starts to show bullish divergence today, it will confirm bullish if this weekly candle close in green. if breaks out, then it shall test the white line first to see rejection or continue the bullish trend.
Daily chart starts to show bullish divergence today, it will confirm bullish if this weekly candle close in green. if breaks out, then it shall test the white line first to see rejection or continue the bullish trend.
Comment:
first tp reached, next tp is around 94.2
so far looking good, dxy should visit the white resistance line first to decide the next move, above 93 will see more upside movement.