Oil Up, Yields Up, Gold Cracking... And Everyone Is Chasing Calls

Heavy

Gold is printing a monster down candle as we write. The major trend line that has defined the move since 2025 is being tested right here.

We are already well below the 200-day MA and are now breaking the 50-day. A close below the mega trend line would be a major technical deterioration, with $4,000 the next obvious downside level to watch. More here.