ok enough talk let's come to our analysis,overall our long term bias is short in gold and silver and below we are listing the reason why
1- The USDX moved to new 2018 highs in terms of both intraday and closing prices
2-the USD is now likely to move to the next resistance or even higher
3-The next two target prices are at about 94 and 95. The former is provided by the December 2017 top and the latter is based on the October / November top
4- during yesterday’s trading, the USD didn’t move back below the previous May high. Instead, it closed a bit higher. This means that the breakout is being confirmed and that the mentioned implications for PMs are getting more .
5-What’s significant about gold is that the decline took place on enormous – the last time we saw a daily decline on that was even bigger, was in November 2016. That was the beginning of a powerful and sharp decline
6-The factor here is the rising, long-term support line based on the December 2016 and December 2017 bottoms. It was just reached yesterday, which means that gold could show some temporary strength
summary- we can expect a sharp decline in the coming days and weeks in gold , silver and mining stocks