Gold ~ Snapshot TA / Bear Channel Breakout
GOLD seizing on relativeness weakness from Bond Yields across the long-ended spectrum.While Bullish momentum is encouraging, a definitive close above ~1913 (61.8% Fib) will be transformational.
Resurgence in Bonds will most likely pressure Gold back into downward trend towards Gap Fill/78.6% Fib, or further capitulation towards $1800 territory.
Traders will be paying close attention to Jackson Hole Symposium.
Note:
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DXY has also been rallying while Gold shows relative strength - demonstrating that Bond Yields are indeed the underlying driving force, interesting.Boost/Follow appreciated, cheers :)
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