Triple Top for Gold if a Strong Move Back Up from DXY

19 thg 5, 2023

I've posted about this for a while now, DXY is presently negatively corresponded with multiple markets: Gold, Bitcoin, Dow Jones, etc.

Should that negative correspondence continue and DXY makes a move back above 105, confirming a failed Head & Shoulders and then heads to 112 -> 118+:

- Gold may confirm a bearish triple top and lose nearly half its value.

If you zoom out to 3 month chart on DXY, the current Head/Shoulders looks more like a long term falling wedge that has broken out, re-tested the top, continued up and is now re-testing the top of a W pattern breakout.

The long-term DXY chart looks incredibly bullish. That said, it could instead drop in the interim and give Gold and other markets a chance to run to new ATHs, first.

Let's see what happens.

26 thg 5, 2023

Ghi chú

Lots of reasons why DXY could just be getting started on a move up. It could drop down to 89-90 first and provide more recovery, but if it continues up - we may be in for some deep corrections:

29 thg 9, 2023

Giao dịch đang hoạt động

If DXY remains above the shoulder, expecting gold to drop hard. Hoping to see DXY move back down to 101-102 instead.