unusual action.. not for the first time in the past week gold broke down out of that ascending triangle, oil and silver were both down but the DXY was not up.. either someone is playing with the markets to suppress commodities, OR they are trying to trigger short term traders stop losses before taking it higher.. a wash out.. which would make sense if a drop in the DXY is coming. I suspect the latter to be the case, gold was in a bullish formation to go higher before the israel iran war broke out, so i dont think its a reversal of that. I think this is a wash out .. a false breakdown.. there is a bit of a lower wick on the candle.. I also see Northstarbad charts had picked this point in their road map for a consolidation point.. personally (from EW counting which aint that reliable) i though we might have one more wave up before a consolidation. maybe a year bewteen 4k and 3k.. im still leaning toward that.. a spike up to just below 4k. but my lucky streak of guessing the trend could be over
BCN Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
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