Gold - unstoppable bid?
Gold has not closed here since that huge down candle in early Jan.
We have seen gold transform from hated to loved over past two months.
Momentum remains strong, but we are getting close to the first big resistance at 1920. If it takes out the 1920, next big one is at 1950, which is the local highs we saw last autumn and in early Jan.
Note RSI getting rather overbought.
Second chart shows gold vs US real 10 yield inverted. The gap is getting a bit wide here...
We have seen gold transform from hated to loved over past two months.
Momentum remains strong, but we are getting close to the first big resistance at 1920. If it takes out the 1920, next big one is at 1950, which is the local highs we saw last autumn and in early Jan.
Note RSI getting rather overbought.
Second chart shows gold vs US real 10 yield inverted. The gap is getting a bit wide here...
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