As the dollar continues to fall, capital must flow into other assets and due to the FED shooting dollars with a bazooka, gold and even S&P could increase in value as banks, governments, corporations and institutions look to allocate capital out of the dollar in order to preserve value... however, this background info is all to ensure that the trade can be possible(fundamentally) but what really gets us to open orders is the price action on the chart! which now shows us that bigger players could be done taking profit and buying could resume soon
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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.