Remarkable how price reacted on the cross formed by the red median schiff and the blue parallel. The same gs, who called the slump, closed the call a week later.
Asian demand remains strong and seasonality now suggests that the reaction might take gold back into the green channel and then approach the upper blue parallel.
Note how correlation with the SPX is still weak as May approaches.
The chances for this setup to turn into a neckline are under 50% so take it as a draft..
Asian demand remains strong and seasonality now suggests that the reaction might take gold back into the green channel and then approach the upper blue parallel.
Note how correlation with the SPX is still weak as May approaches.
The chances for this setup to turn into a neckline are under 50% so take it as a draft..