Tnxshort
Good spot for buyers on US 10y papertreasuries and bonds not acting inline with main markets....
expecting further downside on u.j so will be actively looking for positions alongside the imminent breakout we are witnessing in gold. 1250.xx was the key to pandoras box and 1320.xx, congratulations to those who took this trade and are still holding.
Eyes on the trigger to set things off here.
Gold looking to test 1250Today we got further confirmation of a golden-cross with gold, and even though we had a slight hiccup intra-day spurred by a USD bond sale, we closed above 1240 and made new highs for this run.
TNX is struggling to maintain above water, and it's RSI has been trending down since it's run up in November. We could potentially see a death cross as it's 5EMA makes it's way through it's 50EMA. Once it breaks trend I'm expecting a waterfall here, and the MACD is supporting this notion.
I'm not going to change my mind on my bullishness of gold as long as these technical factors remain in place. I will sell as soon as the climate changes, which may not be for a little while.
