That will depend what time frame charts you are viewing. In all honesty the weekly is still only a small blip in this trend reversal but it is showing promise. The historical past post 2012 is demonstrating there are many sucker bull spike each one had many investors with the same sentiment.
This is the logic I am getting confused using the so called textbook relationship. In the past aggressive inflation makes gold a natural hedge. Currently NIRP is making it a hedge as the opinions go. So exactly, is inflation gold friendly? If US is the centre of global growth then you would want a good economic US recovery to stoke inflation. In the current scenario, US economic recovery = stronger USD = weaker gold, so I can see why gold bugs are praying for market meltdown and armageddon. In reality I rather hope for peace than war if we speak conspiracy since that is the popular belief among conspiracists that war is a profitable exercise for corporate America.
Gold still have a lot of headwinds ahead wrt Resistance and I take it each step of the way. Emotionally I don't believe that USDX would just cave in and let the floodgates open for bear control. NFP coming up this Friday I think and the dynamics can just as easily shift with a set of good numbers. I would not even be bothered to make an educated guess because the market needs a surprised to be in full control.
