DXY rising.. gold rising.. breakout in motion
my gut feeling is we will have a run in gold for 2 or 3 months followed by a year long consolidation between current levels and the new top.
I think it will blow through the targets that most of the pro traders are predicing from 2800 to 3300.. close to 4kUSD by march april is my guess.. which might not be a bad place for a hedge.. but wouldnt really be earmarking that until we saw what unfolds and if we see any reversal signs such as a RSI divergence on a bigger timeframe.. say quarterly chart. or a reading close to 93 showning extreme overbought..
mucking around with some ratio charts yesterday as potential rotation indicators
NDX to XJO has some interesting negative divergences
SPX to XJO also has a bang on the nose rising resistance line.. could we be finally on the doorstep of our long awaited rotation event?
(20min delay)