This latest coronavirus news cycle created a $30 gap up on gold just at the peak of the seasonal cycle. I believe gold and 30Y bonds have reached a crescendo and are due for a retracement. We hit the Year Camarilla pivot almost exactly at the top today. The retracement back to Year R3 is what the normal target should be after this kind of move.
Note
10Y gold seasonality chart shows that this date is correlated with a relative top. Gold usually descends to the March FOMC statement due on March 18. Note
GDXJ smacked Year CAM R3 here as well and non stop selling. Note
Excellent. Note
Important block. Bearish belowETF Blocks
📈
IAU 🥇 #Gold📊 959,330
💵 15.81
💛 +0.02 | +0.13%
Note
Hits the Day ATR stop target. Covered this short for now. Any rebound in the markets will further sink gold, it is not cooperating after the big surge monday. Note
Silver killed on Month R4 and JAN high. Big money to be made. Platinum destroyed. Note
Updates on equity futures, bond, commodity, and FOREX markets.Topics:
➡️ Big selloff in equities (again) from coronavirus related news.
➡️ Precious metals punished, near term targets reached.
➡️ Opportunities for rebound Wednesday. Top to bottom NAS100 nears 10% correction.
youtu.be/cSCNeXaXwfw
Note
Target reached already. Miners completely destroyed. Note
Silver crushed. -7% Note
Lower target is 1440 gold. We may get there by the Fed statement March 18 to follow seasonality 
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Find the edge.
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Related publications
Disclaimer
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.