In the Monday 9 Sept. Oceania & Asia session both Gold & Silver were slow to make traction.
Prior to London session today, the USDX edged closer to 101.50 & made it to this level again, before retracing and breaking out through this level at time of writing. USDX currently 101.60.
Today, I saw some divergence happening between Gold and the USDX, as it rallied...
I would not necessarily listen to certain You-Tubers who write-off important momentum indicators like Stochastics & RSI.
My observations of both is that they are wonderful at telling me what is overbought & oversold. When a commodity, currency or stock is in either of these phases, massive & fast swings in price can occur as price comes out of the overbought...
During the Thursday 29 August 2024, NY session of Gold & Precious metals trading, I noticed some good momentum in Long-positions, so priced looked to be headed up to test 2531.65 which is firm resistance (and below from 2528.50 & even beneath there), where on Wednesday during the Asian session a lacklustre performance in price-momentum of Gold relative to...
I have an alert set on the USDX to monitor its breaking of the 101.50 area. A few moments ago it nudged 101.30 and I see on this 15M there is a triangle that could give it some momentum on a jump.
