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Gold Spot / U.S. Dollar
Short

Blowoff seasonal top $GC_F $GLD

By mortdiggiddy
Updated
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.
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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.
snapshot
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GDXJ smacked Year CAM R3 here as well and non stop selling. snapshot
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Excellent. snapshot
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Important block. Bearish below

ETF Blocks
📈 IAU 🥇 #Gold
📊 959,330
💵 15.81
💛 +0.02 | +0.13%
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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. snapshot
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Silver killed on Month R4 and JAN high. Big money to be made. Platinum destroyed. snapshot
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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
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Target reached already. Miners completely destroyed. snapshot
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Silver crushed. -7% snapshot
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Lower target is 1440 gold. We may get there by the Fed statement March 18 to follow seasonality snapshot
GLDGoldPivot Points
mortdiggiddy
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