gold, page-97178

Folks should have a look at the monthly candle for gold, expiring in 3 days. A 2 bar reversal forming yet another lower high.

A break of $1676 will be bad unfortunately becoz it would indicate the RSI confirming most likely falling below 50 neutral level, obviously dependent on how fast price drops assuming.

My "gut" is signalling I should be looking at the price action in the last euphoric run in 2011-13. Besides that, one can refer to NCM, NST & EVN which are mostly displaying H&S patterns or a tapering off in the bull momentum.

What this means for bond yield, inflation or state of the economy is not what I am anticipating but more a symptom of gold performance I think. Stagflation, Deflation, inflation or growth with no inflation are the possible scenarios. I favor the last one which is occurring post pandemic.

Are we going to have another major equity crash? Or a melt up? I think the latter is in play. Don't pick tops!