So the pet rocks have finally broke out after 2 months of consolidation. 4:1 risk/reward trade from here. Long with stops, ride it. Seeing pretty much the same picture for silver: Also for XAUEUR, but a much much clearer chart:
Oh my. That's it. Copper has been turned into gold. The philosophical stone has been found. It looks like gold smells like gold and has the same properties of gold industry wise. Everything computer and phones manufacturers need in gold is present in the new creation. And I have heard copper was not as expensive as shiny pet rocks. Also, electricity is required...
Top it all off with a hammer daily candle. Let's go
As the MACD looks to roll over in TY1 and the rise in yields looks to resume, gold is in a bind given the two have a notable inverse correlation!