Gold ~ Snapshot TA / Bear Channel Breakout

23 באוג׳ 2023

GOLD seizing on relativeness weakness from Bond Yields across the long-ended spectrum.

While Bullish momentum is encouraging, a definitive close above ~1913 (61.8% Fib) will be transformational.

Resurgence in Bonds will most likely pressure Gold back into downward trend towards Gap Fill/78.6% Fib, or further capitulation towards $1800 territory.

Traders will be paying close attention to Jackson Hole Symposium.

Note:
- DXY has also been rallying while Gold shows relative strength - demonstrating that Bond Yields are indeed the underlying driving force, interesting.


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