Bearish momentum is building in bullion as more longs bail out..

Not quite as emphatic as yesterday’s gravity-defying feats, yet, but the Greenback embarked on another recovery mission to trade mixed against major counterparts and the DXY at new session highs of 92.566 compared to 92.138 at the other end of the spectrum before fading. US Redbook and house price data via CaseShiller and the HPI were all better than previous or above consensus, while consumer confidence missed consensus but came with an upward back month revision. However, the latest Buck revival looked more to do with position squaring and short covering ahead of Thanksgiving, as month falls on the Monday after the long holiday weekend. Conversely, bearish momentum is building in bullion as more longs bail out and spot prices teeter above Usd 1800/oz where stops could be tripped to test key technical support just below the psychological level in the form of the 200 DMA.

Possible next stop is looking like 1780 USD per Oz.