Herr Dr, I dont suppose you have any weekly spot charts of...

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MrOctane

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18/08/18

15:57

Post #: 35013731
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Originally posted by Dr.Who ↑

For those that like straight and squiggly lines the spot gold close is very interesting.

Gold recovered to close 'on the money' of a shallow trend line extending on the weekly. Touch points 2008 and 2015 would suggest a close this week at 1185 and that is exactly what we got. Particularly interesting given it pulled back to 1185 from 1160 - almost destiny! Is that the base for the next leg up? All down to the $$ it would seem. The two are so connected at this time but hereon I suspect gold is going to be a lead indicator for the $$ and start pulling away as a greater rate of knots while the $$ slowly sells off. Reason? Just a hunch - the US is becoming increasingly uncompetitive to the outside world. Extremely complex though with all the protectionist and retaliatory manoeuvrings.

If one finds gold an interesting short/med term proposition at this juncture, I feel it is extremely
important not to over extend - need to watch like a hawk.

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Herr Dr,

I dont suppose you have any weekly spot charts of XAU/CNY.
Some have been suggesting an increased correlation between the two recently.

Reason why I ask, is that the Chinese trade delegation is coming to Washington for a chin wag. I wonder if a short reprieve from the down trend is based on factors such as that, rather than USD strength or weakness.
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Herr Dr, I dont suppose you have any weekly spot charts of...

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