Usually gold and the dollar move opposite directions, but both XAUUSD and DXY are up since late June. The dollar index is holding above its upward trend line and poised to possibly bounce higher in the coming week.
Meanwhile, gold is in overbought territory on the RSI and making bearish...
RSI reaching higher highs @70. How long can we keep it overbought?
DUST is reaching SMA(100) which has been the on a YTD downtrend. Hopefully we can brake through the 25$-26$ to change the direction of that main trend.
DUST looks ready to fly. Wouldn't be surprised if there is a small, short-term pull back, but I also wouldn't be surprised if DUST just starts shooting straight up. All depends on how quickly GOLD falls to 1220.