Gold(en) reversal?
It was not long ago everybody hated gold and was chasing DXY longs. Since early April that trade has gone the other way, and suddenly gold is loved again and the DXY hated.
The set up is starting to look similar to what we saw in early Jan, after gold gained around 200 bucks quickly.
Gold is up some 200 bucks from recent lows and is currently putting in a shooting star candle.
For now this is just a possible "warning" sign for a short term pause at least, but should the DXY start taking out the short term trend line, things could actually move quickly.
The set up is starting to look similar to what we saw in early Jan, after gold gained around 200 bucks quickly.
Gold is up some 200 bucks from recent lows and is currently putting in a shooting star candle.
For now this is just a possible "warning" sign for a short term pause at least, but should the DXY start taking out the short term trend line, things could actually move quickly.