darth.stocks

Gold: postponed correction but not yet cancelled

FX_IDC:XAUXCU   GOLD / XCU
56 0 7
Last Fridays Payroll data were "some bit" of surprising. But any 5 sigma deviation should be.... The probability of a rate hike in June was discussed to be back to 0% so DXY             was tumbling "a bit", JY strengthening, Gold             rising and GDX/HUI exploding to the upside. Well, is this reasonable ? With Fib-TZ analysis last movement was anticipated, but in the different direction. With a reduction of 30% (net short %) of JY and COT Index rising this movement is some bit of surprising. I will certainly change my mind if we get above my max. Target, but till then I have the impression that someone want's to shake-out the bears....
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