gold, page-76380

Gold is all fx quote this morning seems to be either breaking out of ST resistance or approaching including in USD quoted price. XAUUSD has prices 'winding' since the April initial high print and I have seen these continuation pattern forming. The longer the sideway or prices refuse to hit the top then pullback down to support, the more the burst through the resistance will entice aggressive breakout. The problem is which swing will cause this and in a sidewayit is a very binary event.

One thing I have learned through many 'mistakes' or high risk low reward contrarian punt is to pick a top then revert to some math indicators to find the divergence and second guess the market.

The macro coming out of US regardless of the Covid19 is most likely just a quickening effect on the economic numbers. The equity markets though I am getting some windfall generally, is not reflecting what is ahead. I still recall Q1 when US equity making record runs and even Trump gloated!