If DXY stays above $93.5 its to Golds Dimiss !!
If the Dxy finishes the day out higher than $1950 today you CAN EXPECT Monday & Tuesday to have bearish trends as well and very negative price points for the miners & Etf's of Pm Gold & Silver alike. So my advice don't buy into any pull-backs until a solid bull trend in The Prime Metals hAS FORMED ???
The recent giant leaps in Gold & Silver were not conducive to anything solid and Imo nothing for a logical risk reward trade ?/!
The recent giant leaps in Gold & Silver were not conducive to anything solid and Imo nothing for a logical risk reward trade ?/!
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If price Point falls Below $2010 today then $1975 could be the next major price point we should be looking at in the very near future, M & T would be prime candadites ???
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If the Usd/jpy finishes above less say $106 today M & T will have a bearish cognatation to them !
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Correction to DXY first comment $93.5. Sorry about the mix up ! :-) Yes samzhran pointed my error out thank you.
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The Dxy failed to make it back up past $93.5 level & USD/JPY failed to regain past it's $106 level, is a strong indicator that Gold has not Quite developed a bearish trend yet we will watch Monday & Tuesday for any indication of Gold's furthering weakening while also keeping an eye out on currency strengths and or weaknesses.
Just remember new & old traders alike for every time you miss a possible opportunity there are hundreds more waiting around the corner !! So be patient don't move to you see it, and make wise trading decisions . :-)
P.S. if you want to know what i'am feeling about PM metals, i post comments in the chat room regularly!! This should open your thought processes & thinKing with some Clarity. As Always Good & Fruitful Trading !:-)