Gold (XAU) Short to Long

Looking at DXY, SPX and even Bitcoin - the Dollar needs a move up. Stochastic, Elliott and various other tools all say the same thing.

This move will come with Dollar strength once Biden is fully integrated. Then Dollar will drop pushing this up (we might even see a new high) and then what also makes sense is for the SPX to drop a fair way and it might drag gold back down before it becomes the safe haven again. Stocks will get converted to Gold and then we could see a bigger Rally as a whole.

Overall sentiment is Long - but I expect a short to the order-block, a rise as the dollar dips back before a major move based on SPX and not DXY pushing Gold Long for some time.



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