Gold dropped after polls showing Macron at 62% v Le Pen 38% in a...

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Jezzamus

550 Posts.

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24/04/17

09:39

Post #: 24227475
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Originally posted by V* ↑

US dollar tanked today. Lots of currency swings around the Euro over the FRENCH Elections (will they leave the EU?)
Continue to watch for follow through, but that is a bearish dip and gives more strength to the recent downtrend.
Not good (for the US dollar) seeing it dip below what has been a longer/stronger uptrend.

So... POG normally gets a lift on a dip in US dollar, instead this morning it gets hit real hard.
Suggests it's a 'fear/sell everything' type sell off, or your typical POG smash to make US powerhouse economy look great and steer us all clear of safety.
Has actually fallen back into an uptrend so not damaging.

This morning is a bargain dip buy on some goldies if this up channel holds.

The upset for me today is US futures, do I hold or ditch the BBUS trade.
It's right at the exact levels where I would pull the pin.

Narrowly avoided for now what would be beating the previous lower high (potential "double top" resistance if you will, but wow, that's a very strong jump up out of the recent down trending channel so it's a tough call for me just now.

Very bullish Dow futures, but why? It reacts to POG dip or the other way around?
I didn't see any of this coming today, was thinking the exact opposite for Dow futures and POG to be honest.

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Gold dropped after polls showing Macron at 62% v Le Pen 38% in a two way run off. Nothing like the prospect of stability to send people back to the stock market. Looks like full steam ahead for the EU and ECB asset inflation.

BDR Price at posting: 27.5¢ Sentiment: Buy Disclosure: Held
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