Gold pushes to the 0.618%
Technicals
*Gold and the USD are inversely correlated (When the USD goes up, Gold goes down since the USD is not backed by gold.) And the USD is bullish.
*With an impulse of that magnitude previously a shallow retracement is not likely.
*The trend lines just represent a wedge coming to an end and a dramatic move in a direction.
Its not my favorite chart this week but relevant enough to talk about, happy hunting guys.
*Gold and the USD are inversely correlated (When the USD goes up, Gold goes down since the USD is not backed by gold.) And the USD is bullish.
*With an impulse of that magnitude previously a shallow retracement is not likely.
*The trend lines just represent a wedge coming to an end and a dramatic move in a direction.
Its not my favorite chart this week but relevant enough to talk about, happy hunting guys.
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