goldenBear88

Bond notes / messenger that Gold collapse is near

Short
TVC:US05Y   US Government Bonds 5 YR Yield
Despite the rise on DX, Gold is extending it’s uptrend move / Buying pressure is evident, but still Gold is showcasing the strong underlying Bearish trend. What keeps Gold ranged is the Bond notes Trading near Resistance, and above almost an Yearly high on the Stock markets. Also, on the E.U. opening, I spotted also side Swing movements as I am only expecting Gold to Buy the every dip under these conditions. More specifically with #1,919.80 as the Hourly 4 Resistance (and with the Hourly 1 #1,895.80 well Supporting) if it breaks I am expecting an aggressive gap fill at towards #1,927.80 within #2 - #4 sessions, of course if Stimulus hopes arise. The Daily chart is slowly turning Bearish today and can support the downtrend (in my reports I have mentioned that the Daily chart Bearish confirmation is what I have been waiting for). This #2 - #4 session horizon coincides with today’s release of the U.S. Fundamental events, so all the parameters support a speculative downtrend on Gold amplified by a rise on the Bond notes. Keep in mind that Gold is surely Bearish on the Medium-term, what keeps it ranged is current events on the correlating assets (Stock markets especially). I am expecting decline on Bond notes which can postpone ultimate Gold meltdown aiming the last Yearly Low of this cycle (as current configuration is Bullish for Gold), but once Bond notes break the psychological barrier / Resistance (June #7 Top), it is a sign that Gold should be sold on Medium-term towards #1,800.80, and #1,750.80 extension.

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