The 'Real' Big Picture; June Top then July Breakdown
Hello traders,
The Gold market continues to press the 1765-1780 (hit 1779) range in the form of a high-top consolidation that I have posted about several times over the past many weeks.
While a lot of people may be confused as to why Gold should drop in this current environment, the reality is, Gold is a manipulated commodity (via algorithmic equations), and based on many additional fundamental aspects beyond "printing money".
Amongst many other things, commercial shorts remain far too high and this is ultimately supportive of the larger-picture consolidation pattern.
In this case, Gold will top out at current levels - or - re-test 1780-1785 and ultimately breakdown by the 2nd to 3rd week of July to 1660. Another sharp breakdown will come around September before the entire Gold market bottoms out sometime in Early October. This will be your 'Buy-Zone'. Moreover, the US dollar will not be 'weak enough' to offset the overall impending breakdown pattern in Gold through the Summer and early Fall months.
And contrary to what most people think, with floating liquidity and probably some sort of vaccine news (real or fake), the SPX will surpass 3390 and breach into record high status, to the short-term demise of Gold.
--
For more information on my daily analysis and stock-picks, please message me on Discord (zSplit#9971) to join my trading community.
--
zSplit
The Gold market continues to press the 1765-1780 (hit 1779) range in the form of a high-top consolidation that I have posted about several times over the past many weeks.
While a lot of people may be confused as to why Gold should drop in this current environment, the reality is, Gold is a manipulated commodity (via algorithmic equations), and based on many additional fundamental aspects beyond "printing money".
Amongst many other things, commercial shorts remain far too high and this is ultimately supportive of the larger-picture consolidation pattern.
In this case, Gold will top out at current levels - or - re-test 1780-1785 and ultimately breakdown by the 2nd to 3rd week of July to 1660. Another sharp breakdown will come around September before the entire Gold market bottoms out sometime in Early October. This will be your 'Buy-Zone'. Moreover, the US dollar will not be 'weak enough' to offset the overall impending breakdown pattern in Gold through the Summer and early Fall months.
And contrary to what most people think, with floating liquidity and probably some sort of vaccine news (real or fake), the SPX will surpass 3390 and breach into record high status, to the short-term demise of Gold.
--
For more information on my daily analysis and stock-picks, please message me on Discord (zSplit#9971) to join my trading community.
--
zSplit
