gold, page-77719

XAUUSD and DXY is again moving in sink, unusual. The money (FOMO) has rushed to equities (risk).

XAUUSD range between 1750-1700 circa. Price briefly intraday dipped below 1700 but recovered. We will find out during the NY session. Bear scenario, a small H&S pattern, bull case is just distributing within the top before another rally.

Equity markets are getting a bit too extended, I have heard commentary implying XJO volume has dropped off significantly as it rallied post crash suggesting a short squeeze. Is the crash over and recovery to the top of Q1 in equities? I took the opportunity to get out of some equity positions in circa breakeven as well as gold exposure. XAUAUD has broken a significant support this week having rejected it last week. They could be some weakness in the gold sector so waiting for the pullback to renter.