Gold pattern pointing up, page-402

I don't know if 1140 will hold but I do know that the double top on the DXY is saying the market does not wholesale thinks rates are rising any time soon beside token message. After such a big DXY rise it will take time for the distribution phase and slowly grind lower. In between there will be spikes like anything no such thing as straight lines in either direction.

If you take the view that US economic recovery is still too weak for interest rate rises then whatever gold is doing is just noises. However the 10 TB sold off so you have to say the market thinks interest rate is more likely sooner.

If crude keeps selling off now hitting a swing high then inflation is well tamed. I still favor a later rate rise than sooner so definitely will wait for good quality goldies to sell off then get in.

I have been buying some industrials past 2 days but some of these health care stocks are just guess work regarding the support after such a strong run!