claydoctor

Gold, Oil, USDJPY, and stocks compared

COMEX:GC1!   GOLD FUTURES
247 2 4
Historically, they relate. Oil             HS right shoulder completes (or not), doesn't matter, the FED need inflation, the world needs inflation, the deflation war is raging, and we just don't feel it here yet. Gold             will bounce first as a safe haven when USDJPY             falls with the markets. Oil             will follow soon enough, and Gold             has preceeded commodity bottoms. Gold             could see a solid double bottom to confirm, or just head higher from here and not wait for it, same with oil             . Desperate times call for... Dollar falling will help the big caps, and international trade, and everything US. But not in time for 3rd qtr earnings to make this market fall hard. When Gold             breaks through that 200 day MA, its off to the races. BTW, oil             staring at breaking though its 200 day ma, and USDJPY             and spx500             all fighting and failing to break through theirs, finding them ultra resistance.
Killy_Mel
a year ago
Gold and JPY really have an interesting negative correlation... Thanks!
Reply
claydoctor Killy_Mel
a year ago
Yes, inverse.
Reply
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