For an accumulation of reasons:
1.
DXY
Firstly did a fake breakout retest previous support. It got rejected and finally it will continue to go above106.8$ up until 108$.
2. According to technical analysis, gold is forming an obvious divergence when compared to RSI in the 1 hour timeframe. A strong correction is highly probable.
3. Michael Burry was right. Let’s take a minute to admit the fact that inflation is not as under control as analysts are trying to convey. Economic data proves the opposite.
4. Fed rate hikes I are certain for 2023, making Q1 2024 a certain hike period for the Feds with a new roadmap.
5. Gold have reached its all year liquidation levels compared to the volume of Sell postions taking place by VCs. (Read the news)
6. T-Bonds seems to grab investors’ attraction making gold seem having a lower ROI for the long term.
(This is not a financial advice nor financial analyst but rather my opinion supported with facts from the economy and news)
1.
DXY
Firstly did a fake breakout retest previous support. It got rejected and finally it will continue to go above106.8$ up until 108$. 2. According to technical analysis, gold is forming an obvious divergence when compared to RSI in the 1 hour timeframe. A strong correction is highly probable.
3. Michael Burry was right. Let’s take a minute to admit the fact that inflation is not as under control as analysts are trying to convey. Economic data proves the opposite.
4. Fed rate hikes I are certain for 2023, making Q1 2024 a certain hike period for the Feds with a new roadmap.
5. Gold have reached its all year liquidation levels compared to the volume of Sell postions taking place by VCs. (Read the news)
6. T-Bonds seems to grab investors’ attraction making gold seem having a lower ROI for the long term.
(This is not a financial advice nor financial analyst but rather my opinion supported with facts from the economy and news)
