Gold has bumped its head on a historically strong resistance level at ~1560.
USDJPY has not confirmed gold's move since Dec '19.
USDJPY breaking out higher itself (bearish gold) so we should expect gold to readjust itself.
DXY in general has regained an important historical level + 61.8 fib of most recent trend which points the dollar higher (bearish...
Burford has broken out from its post-Woodford drop. Clean air up to the resistance and fib area, around 1050-1100p. I'd expect a few early opportunists to sell out here though, and have it retest the breakout area.
Pound strengthening, breaking the 0.382% retrace. An hour left in the monthly candle but it's finishing strong which usually indicates a continuation into the next month. Target 0.500%.
(...just in time for booking a driving and safari holiday!)
Gold broke out of its pennant pattern a couple of days ago. Either we have a breakdown or a shake out (caught me out at break even) occurring right now just below the 50ma. A similar shake out occurred during the last pennant just before it exploded north.
I have bullish leanings for gold, given all the stimulus and extra stimulus coming out of the US. I'll be...