Well, this should have been on twitter. Nothing technical. Surprisingly high CPI may cause FED to be unexpectedly Hawkish tomorrow. If this plays out, then gold could see a final washout before ripping upwards as inflation rips through the financial system.
However, notice there are also other signs showing that perhaps FED will end its rate hike soon. This includes price actions recently from rate sensitive sectors such as XHB, REITS, etc.. Also, Kudlow having a heart attack may not be that of a coincidence. Something big is coming.
However, notice there are also other signs showing that perhaps FED will end its rate hike soon. This includes price actions recently from rate sensitive sectors such as XHB, REITS, etc.. Also, Kudlow having a heart attack may not be that of a coincidence. Something big is coming.
Note
I'm expecting a relatively quick flash crash after FED rate hike.Note
Energy in gold is building up now, however the momentum is shifting away from the upside.Note
Gold broke 1290 support. Potential downward move to 1270-1280, worst 1240-1250.Note
I didn't expect my drawing to be hit so perfectly :pNow let's see if this is merely a bounce or something major.
Note
Didn't expect my first part of drawing to be hit to the tick. Now let's see if the second part is correct :pWish me good luck.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.